GoldBod generated GH¢970m in non-tax revenue in 2025 – CEO
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 […]
Ghana Gold Board (GoldBod) CEO Sammy Gyamfi has revealed that the institution generated GH¢970 million in non-tax revenue for the Ghanaian state in 2025. This revenue was derived from assaying fees charged on gold transactions, including those involving the Bank of Ghana and licensed gold-buying companies. Assaying is the process of testing gold to determine its purity and other characteristics necessary for accurately establishing its value.
These fees are a crucial part of GoldBod's operations, as they are paid by institutions and licensed operators that utilize the board's assaying services. Gyamfi emphasized that this significant revenue figure underscores the potential of Ghana's gold industry to contribute additional sources of income for the state, provided the sector is properly regulated and accounted for.
Beyond the assay fees, GoldBod's activities also aim to formalize the domestic gold trade, enhance foreign exchange mobilization, and support the accumulation of Ghana's gold reserves. The institution's ongoing reforms are designed to ensure that the country retains a more substantial share of the value generated from its gold resources, preventing significant economic benefits from flowing out of the country.
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