By Ashiadey Dotse
The Ghana Gold Board (GoldBod) has rejected claims that Ghana lost 214 million dollars under the gold-for-reserves programme, describing the reports as false and misleading.
The Chief Executive Officer of GoldBod, Sammy Gyamfi, said the board has not made any losses since it was established. Instead, he said GoldBod recorded profits in 2025.
“GoldBod has made no losses. We have made a significant profit under our gold trading programmes in 2025,” Mr Gyamfi said.
He disclosed that, based on unaudited financial statements, GoldBod is expected to declare an income surplus of not less than 600 million cedis for the year 2025.
Mr Gyamfi explained that GoldBod’s role in 2025 was limited to buying gold locally, testing its quality, and exporting it for the Bank of Ghana. He said the sale and trading of the gold is the sole responsibility of the Bank of Ghana.
According to him, GoldBod is not aware of any loss of 214 million dollars by the Bank of Ghana under the programme.
He also dismissed claims that GoldBod charges off-taker fees. Mr Gyamfi said GoldBod does not deal directly with off-takers and does not charge any such fees.
“For the record, there is nothing like GoldBod off-taker fees under the programme,” he stated.
He explained that the only fees GoldBod receives are a 0.25 per cent assay fee and a 0.5 per cent service charge, which were inherited from an agreement signed in 2023 between the Bank of Ghana and the former Precious Minerals Marketing Company (PMMC). He added that these fees have not been increased in 2025.
Mr Gyamfi further noted that GoldBod generated over 10 billion dollars in foreign exchange for Ghana in 2025 through the local purchase of more than 100 tonnes of gold from artisanal and small-scale miners.
He said that from January 2026, GoldBod will fully take over the artisanal and small-scale mining gold trading programme, which he believes will address concerns about fees and alleged losses.
Mr Gyamfi stressed that GoldBod remains committed to supporting Ghana’s economy through efficient and transparent gold trading operations.
