GoldBod records GH¢3.78bn difference in gold supplied to Bank of Ghana in 2025

The Ghana Gold Board (GoldBod) reported a significant discrepancy of GH¢3.78 billion between the expected and actual gold supplies to the Bank of Ghana (BoG) at the end of 2025. This difference, which encompasses over-supplies, under-supplies, and undistributed funds, is detailed in GoldBod's trade report for transactions with the central bank.

During 2025, GoldBod received total inflows of GH¢133.26 billion, with an expected value of GH¢132.29 billion to be supplied to the BoG. However, the actual value of gold supplied amounted to GH¢128.55 billion, representing 80,762.55 kilogrammes. Consequently, this led to a balance of GH¢3.78 billion under the report's category for "Over Supply/Under Supply to BoG, including undistributed funds," which corresponds with a liability disclosed in GoldBod's audited financial statements for 2025.

This liability amounts to GH¢3,780,727,736, forming the largest component of GoldBod's total trade payables of GH¢3,883,803,022 at the end of the financial year. The audited accounts reveal that GoldBod owed this amount to the BoG under the Domestic Gold Purchase Programme, as stated in the financial statements. The GH¢3.78 billion figure is not attributed to a single transaction but rather accumulated from various gold transactions throughout the year, where the quantities or values supplied varied from the expected amounts.

Notable instances include a substantial over-supply of GH¢3.64 billion on June 26, 2025, when GoldBod supplied gold worth GH¢5.28 billion against an expected amount of approximately GH¢1.63 billion. Another major over-supply of GH¢1.38 billion was recorded on August 1, with GoldBod supplying gold worth GH¢4.13 billion against an expected GH¢2.73 billion.

Additionally, on October 24, an over-supply of approximately GH¢2.23 billion occurred when GoldBod supplied gold valued at GH¢3.84 billion compared to an expected GH¢1.59 billion. These detailed trade figures provide a comprehensive breakdown of the transactions contributing to the GH¢3.78 billion balance reflected in GoldBod's 2025 financial position.