GH¢5.44 BILLION SURPLUS! Sammy Gyamfi Slams NPP Claims, Says GoldBod Is "Winning, Not Bleeding"

GH¢5.44 BILLION SURPLUS! Sammy Gyamfi Slams NPP Claims, Says GoldBod Is "Winning, Not Bleeding"

The Ghana Gold Board (GoldBod) has mounted a strong defence of its financial performance, with Acting Chief Executive Officer Sammy Gyamfi dismissing allegations by some members of the Minority Caucus in Parliament that the state-owned institution is making losses and mismanaging public funds.

In a sharply worded statement, Mr. Gyamfi described the claims as false and misleading, insisting that GoldBod remains financially strong despite challenging conditions in the global gold market.

According to him, GoldBod recorded an operational surplus of GH¢909.7 million and an overall surplus of GH¢5.44 billion for the 2025 financial year.

He said the figures are contained in the institution's audited 2025 Annual Report and Financial Statements prepared by the Auditor-General and published on GoldBod's official website.

Mr. Gyamfi further disclosed that GoldBod has continued to post strong operational results in 2026 despite a more than 23 percent decline in international gold prices since February and a reduction in pricing incentives from about 14 percent to 6 percent.

He said the Board remains on track to meet its 2026 surplus target while expanding gold purchases, generating foreign exchange, supporting Ghana's gold reserve accumulation, promoting local value addition and financing sustainability initiatives.

The GoldBod CEO urged the public to disregard what he described as a campaign of misinformation by some members of the Minority Caucus.

Without holding back, Mr. Gyamfi accused the Minority, led by Alexander Afenyo-Markin, of making what he called baseless and politically motivated allegations that GoldBod is recording losses and siphoning public funds.

He maintained that the accusations are not supported by the institution's audited financial statements and insisted that GoldBod would remain focused on executing its mandate despite the political criticism.

Mr. Gyamfi expressed confidence that the Board's performance and contribution to Ghana's economy would ultimately outweigh what he characterised as attempts to discredit its work.

The Minority Caucus has previously questioned aspects of GoldBod's operations, but GoldBod says its audited accounts and ongoing performance demonstrate that the institution remains profitable and financially sound.