The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has dismissed claims that the institution recorded losses of more than US$1.7 billion in its gold trading operations in 2025.
Speaking at the government’s Accountability Series on Wednesday, August 19, 2026, Mr Gyamfi described the allegation as false and challenged Minority Leader Alexander Afenyo-Markin to provide evidence to support the claim.
According to Mr Gyamfi, GoldBod’s audited financial statements for 2025 show an operational surplus of GH¢907 million and an overall surplus of GH¢5.4 billion.
He further stated that the Auditor-General’s review contained no adverse findings against GoldBod for the 2025 financial year.
Mr Gyamfi was responding to allegations made by Mr Afenyo-Markin at a press conference in Parliament on Tuesday, August 18. The Minority Leader claimed that the Domestic Gold Purchase Programme, operated through GoldBod, incurred losses exceeding US$1.7 billion, equivalent to about GH¢22 billion, in 2025.
Mr Afenyo-Markin, citing an IMF report, argued that the alleged losses represented a significant burden on the national purse and called for greater scrutiny of GoldBod’s pricing and trading practices.
He also questioned whether some transaction costs associated with the programme were absorbed by the Bank of Ghana rather than reflected in GoldBod’s financial statements.
GoldBod, however, maintains that its audited accounts show a strong financial position and no such losses.
The disagreement has therefore centred on how the disputed transaction costs are accounted for and whether they should be reflected in GoldBod’s books or those of the Bank of Ghana.
