GoldBod rejects Minority in Parliament’s loss claims, cites GH₵5.44bn audited surplus

The Ghana Gold Board (GoldBod) has rejected claims by the Minority in Parliament that the institution is making losses, insisting that its 2025 audited financial statements show that it remains financially sound.

The Board’s response follows allegations by members of the New Patriotic Party (NPP) Minority Caucus, led by Minority Leader Alexander Afenyo-Markin, that GoldBod was recording losses and mismanaging public funds.

GoldBod described the claims as inaccurate and politically motivated, saying its audited accounts and independent assessments provide evidence of its financial performance.

GoldBod’s Media Relations Officer, Prince Kwame Minkah, said the institution recorded an operational surplus of GH₵909.7 million and an overall surplus of GH₵5.44 billion for the 2025 financial year.

He said the figures were contained in the Auditor-General’s audited financial statements, which have been published for public scrutiny.News Explainers Service

“We have nothing to hide,” Mr Minkah said.

He added that despite challenges, including a more than 23 percent decline in international gold prices since February 2026 and a reduction in pricing incentives from about 14 percent to 6 percent, GoldBod remained on track to meet its 2026 targets.

These targets include gold purchases, foreign exchange generation, gold reserve accumulation, local value addition and sustainability initiatives, he said.

Mr Minkah urged the public to rely on audited reports and verified information rather than what he described as political commentary.

“GoldBod remains committed to transparency by regularly publishing its financial reports,” he said.

He also referenced the Institute for Economic and Fiscal Policy Governance, which he said had supported GoldBod’s position that the audited accounts did not indicate that the Board had incurred losses.

Mr Minkah reaffirmed GoldBod’s commitment to maximising national benefits from Ghana’s gold resources, strengthening the economy and creating more value from the country’s mineral wealth.