The Ghana Gold Board (GoldBod) achieved a net profit of GHS 896.5 million in 2025. This figure represents a substantial increase from the GHS 178.5 million recorded in 2024. President John Dramani Mahama commended GoldBod for this strong financial performance.
This impressive turnaround stems largely from record purchases of gold from artisanal and small-scale mining (ASM) operations. GoldBod bought 104 tonnes of ASM gold in 2025, surpassing large-scale mining for the first time. These purchases generated nearly US$11 billion in foreign exchange for Ghana.
GoldBod's performance highlights the growing importance of the small-scale mining sector to Ghana's economy. The sector's contribution to national gold output and foreign exchange earnings has become increasingly significant. This trend aligns with broader government efforts to formalize and regulate artisanal mining activities, aiming to maximize national benefits from gold resources. The overall surplus for GoldBod reached GHS 5.44 billion in 2025, further underscoring its financial strength.
President Mahama, speaking at the 2026 Governing Boards & CEOs’ Conference, emphasized the strategic importance of GoldBod's transparent structures. He stated, “This performance reflects the strategic importance of building transparent, accountable, and nationally beneficial structures around Ghana’s gold trade.” He also stressed that sustained performance, not just a one-year improvement, remains the ultimate test for the institution.
The significant increase in GoldBod's profitability suggests a positive outlook for Ghana's gold sector and its contribution to national revenue. Decision-makers will closely monitor GoldBod's ability to sustain this growth, especially through stronger core operations. The government will likely continue to support policies that enhance the productivity and formalization of artisanal and small-scale mining. This performance could also influence investor confidence in Ghana's mining industry and its capacity for value addition.
GoldBod's audited 2025 financials show an operational surplus of GHS 909.7 million. Non-tax revenue also surged from GHS 307.7 million in 2024 to GHS 970.8 million in 2025. This occurred despite an increase in staff from 114 to 450, indicating improved efficiency and expanded operations. Total gold purchases from January 2025 to May 2026 reached 135.843 tonnes, with 98% originating from the ASM sector. This sustained high volume from small-scale miners demonstrates a consistent supply chain. The strong financial health of GoldBod provides a stable platform for future investments and expansion. It also strengthens Ghana's position in the global gold market. The focus now shifts to ensuring these gains are not solely dependent on external factors like exchange rate movements. Instead, internal operational improvements must drive future success. This will secure long-term benefits for the Ghanaian economy and its citizens.