GoldBod generated GH¢970m in non-tax revenue from assay fees in 2025 – Sammy Gyamfi
The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, says the institution generated GH¢970 million in non-tax revenue for the state in 2025 through assay fees charged on gold transactions. According to him, the revenue was generated from fees paid for the assaying of gold, including transactions involving the Bank of Ghana […]
In 2025, the Ghana Gold Board (GoldBod) generated GH¢970 million in non-tax revenue from assay fees, as reported by the institution's CEO, Sammy Gyamfi. The revenue was amassed from fees levied on gold transactions, including those conducted with the Bank of Ghana and licensed gold-buying entities. Assaying, the process of analyzing gold for purity and other essential characteristics, plays a crucial role in determining its market value.
Gyamfi emphasized that the GH¢970 million collected in 2025 underscores GoldBod's significant role in generating state revenue beyond its primary responsibilities of regulating and formalizing Ghana's gold trading sector. He further highlighted that the fees are integral to GoldBod's operations, paid by institutions and licensed operators utilizing its assaying services.
The CEO also noted that the substantial revenue underscores the gold industry's potential to contribute additional funds to the state when the sector is appropriately regulated and accounted for. Beyond the assay fees, GoldBod aims to formalize domestic gold trade, enhance foreign exchange mobilization, and bolster the accumulation of Ghana's gold reserves.
The institution's reforms are designed to ensure that a larger portion of the value derived from Ghana's gold resources remains within the country.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
