'GoldBod's success story will outlive the hate-driven campaign' — Sammy Gyamfi

The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has dismissed claims by the Minority in Parliament that the state gold trading agency is recording losses.

His response follows remarks by Minority Leader Osahen Alexander Afenyo-Markin during Thursday's Mid-Year Budget Review debate, where he alleged that the Bank of Ghana's Gold-for-Reserves programme under the GoldBod had incurred losses of GH¢9.6 billion.

In a social media post on Friday, July 24, Sammy Gyamfi said the Minority's claims were contradicted by GoldBod's audited financial statements and urged the public to disregard what he described as false allegations.

"It is an incontrovertible fact that the GoldBod declared an operational surplus of GHS909.7 million and an overall surplus of GHS5.44 billion for the year 2025," he stated.

The GoldBod CEO said the figures were contained in institution's 2025 audited Annual Report and Financial Statements prepared by the Auditor-General and published on the institution's website.

He further stressed that despite a more than 23 percent decline in international gold prices since February this year and a reduction in GoldBod's pricing incentives from about 14 percent to six percent, the institution had continued to perform strongly.

According to him, GoldBod has remained on course in achieving significant gains in gold purchases, foreign exchange generation, support for Ghana's gold reserve accumulation, local value addition, sustainability initiatives and the achievement of its surplus target for the 2026 financial year.

"The GoldBod remains focused on the delivery of its mandate for the benefit of Ghanaians. We will not be distracted by misguided noise. For we know, that the impact of the success story of the GoldBod shall outlive the hate-driven campaign of calumny being waged by our detractors," he stated.