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 […]
As reported by the Ghana Gold Board (GoldBod), the organization generated a substantial GH¢970 million in non-tax revenue for the state in 2025 through assay fees levied on gold transactions. Samuel Gyamfi, the Chief Executive Officer of GoldBod, highlighted that these fees were collected from the Bank of Ghana and various licensed gold-buying companies.
Assaying, a critical process in the gold industry, involves testing the purity and other relevant characteristics of gold, which is vital for determining its value accurately. The fees charged for this service form a crucial part of GoldBod’s operations. Samuel Gyamfi emphasized that the GH¢970 million earned in 2025 underscores the significant potential of Ghana’s gold industry to contribute additional revenue to the state when the sector is effectively regulated and accounted for.
Beyond the direct revenue from assay fees, GoldBod's mission extends to formalizing the domestic gold trade, enhancing foreign exchange mobilization, and supporting the accumulation of Ghana’s gold reserves. The institution's ongoing reforms are aimed at ensuring that a larger portion of the economic benefits derived from Ghana's gold resources remains within the country, rather than being exported.
Written by urgent.news from Joy Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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