GoldBod Did Not Make Losses In 2025 -Sammy Gyamfi
The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has dismissed claims that GoldBod recorded losses in its 2025 operations. He has also refuted claims by the minority leader, Alexander Afenyo Markin, that GoldBod is responsible for losses incurred by the Bank of Ghana under its Domestic Gold Purchase Programme (DGPP). Speaking […] The post GoldBod Did Not Make Losses In…
GoldBod's CEO, Sammy Gyamfi, has firmly denied claims that the organization recorded losses in its 2025 operations. He dismissed assertions by opposition leader Alexander Afenyo Markin that GoldBod was responsible for Bank of Ghana's (BoG) losses under its Domestic Gold Purchase Programme (DGPP). At a recent event, Gyamfi pointed to the Audited Annual Report of GoldBod, which revealed an operational surplus of GH₵907 million and an overall surplus of over GH₵5.4 billion.
He emphasized that these figures contradict the claims of losses. The International Monetary Fund (IMF) also cited a US$1.7 billion loss by the BoG under the DGPP in 2025; however, the IMF explicitly stated that GoldBod was not accused of causing these losses. Instead, the IMF attributed the losses to the scaling-up of the DGPP.
Gyamfi clarified that GoldBod's role under the DGPP was to purchase gold for the BoG on agreed terms, and they had no involvement in the sale of gold by the BoG under the program. He also noted that GoldBod's fees constituted a mere 0.758% of the IMF's reported 17% loss, which was largely due to policy design decisions by the previous NPP government, not mismanagement by GoldBod.
Written by urgent.news from The Chronicle Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
