Sammy Gyamfi is the CEO of GoldBod
The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has dismissed widespread claims that the state-owned institution is recording losses, describing those reports as products of “hallucination” or “dreams.”
Speaking on JoyNews’ NewsFile on January 3, 2026, Gyamfi presented a robust financial outlook for the institution, revealing that they recorded an income surplus for 2025.
“When you hear people talking about GoldBod losses, they are either dreaming or hallucinating.
“The GoldBod, even though it is not a profit-making operation, has not made any losses. In the year 2025, we generated revenue to the tune of GH¢960 million, a little over that,” he stated.
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Providing a breakdown, the GoldBod CEO noted that the institution’s expenditure for the same period remained disciplined.
“Our expenditure for 2025 stands below GH¢120 million. If you look at our management accounts, we are on our way to declaring an income surplus of nothing less than GH¢700-800 million,” he announced.
Gyamfi challenged critics and the public to verify his claims through official channels, citing the Gold Board’s commitment to transparency.
“The law that established the GoldBod requires us to publish all our quarterly financial reports on our website. We have done that, and if you check, you will see that all I’m saying is true,” he said.
Gyamfi also responded to allegations that the board’s purported losses were being transferred to the Bank of Ghana (BoG), describing such claims as logically inconsistent.
“How can an institution which is not making a loss transfer losses to the BoG? How can we transfer something we do not have?” Gyamfi questioned.
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