The Ghana Gold Board (GoldBod) recorded an overall surplus of GHS 5.4 billion in 2025. This figure comes from its audited financial statements. GoldBod Chief Executive Officer, Sammy Gyamfi, confirmed this financial position. He stated the institution also achieved an operational surplus of GHS 907 million.
These declarations directly challenge claims made by Minority Leader Alexander Afenyo-Markin. Mr. Afenyo-Markin, also the Effutu MP, argued that GoldBod was incurring significant losses. He questioned the financial management of the state entity. Speaking at a press conference on August 18, he insisted that gold trading should always be profitable. He attributed any reported losses to management and policy failures, not market conditions. Mr. Afenyo-Markin described the alleged losses as evidence of "crass incompetence" at GoldBod. He also criticized the government's policies regarding the institution.
This dispute brings renewed focus on the management of Ghana's valuable gold resources. Gold is a critical export commodity for the nation. Its trade significantly impacts the country's foreign exchange earnings and overall economic stability. Ghana is Africa's largest gold producer. Therefore, the financial health and operational efficiency of GoldBod are crucial. The institution's performance directly affects public finances and investor confidence. Past discussions have often centered on ensuring maximum value extraction from gold for national development. This current disagreement adds another layer to that ongoing conversation.
GoldBod CEO Sammy Gyamfi dismissed Mr. Afenyo-Markin's claims as "blatant lies." He called them a product of the Minority Leader's "hallucinatory imagination." Mr. Gyamfi emphasized that the audited 2025 financial statements clearly show a positive financial outcome. He stressed that these official documents provide the true picture of GoldBod's performance. This direct rebuttal underscores the severity of the disagreement between the two parties.
The conflicting reports raise questions about transparency and accountability in state-owned enterprises. Stakeholders will closely monitor how this dispute evolves. They will watch for further evidence or clarification from either side. The public and financial markets will seek clear, verifiable data on GoldBod's financial standing. This situation could prompt calls for independent reviews or increased parliamentary oversight. Ensuring accurate reporting is vital for maintaining public trust and investor confidence in Ghana's economic institutions. The outcome will influence perceptions of economic governance. It will also shape future policy decisions regarding the gold sector. This ongoing debate highlights the need for robust financial reporting standards. It also emphasizes the importance of clear communication from state entities. The nation's economic future depends on effective management of its key resources. This includes the gold sector. Therefore, the financial integrity of GoldBod remains a top concern for all Ghanaians.