Fact-check: Did GoldBod make a loss in 2025? Here’s what the records show
A Minority Caucus press conference accused the Ghana Gold Board (GoldBod) of GH₵22 billion in losses in 2025. GoldBod’s CEO, Sammy Gyamfi, called it a “barefaced lie,” pointing to an audited surplus and no mention of GoldBod losses in the International Monetary Fund (IMF) document. JoyNews Research examined both IMF reports cited and GoldBod’s audited […]
The Ghana Gold Board (GoldBod) faced accusations of a GH₵22 billion loss in 2025 by the Minority Caucus in Parliament. However, the CEO of GoldBod, Sammy Gyamfi, strongly denied the claim, stating that the audited surplus for 2025 disproved the allegation. JoyNews Research examined both the International Monetary Fund (IMF) reports cited and GoldBod's audited accounts to verify the claims.
Despite the IMF report accurately mentioning a loss of over $1.7 billion (1.5 percent of GDP) due to the Bank of Ghana's Domestic Gold Purchase Programme (DGPP), the report explicitly states that this loss is attributed to the Bank of Ghana, not GoldBod. The IMF report does not indicate that GoldBod caused the loss or that the loss sits on GoldBod's books.
GoldBod's audited financial statements for 2025 show a surplus of GH₵5,443,990,347, contradicting the Minority Caucus' claim.
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