Ghana Gold Board Denies Responsibility for Central Bank Losses

Sammy Gyamfi, CEO of Ghana Gold Board (GoldBod), has rejected claims that his agency's fees contributed to losses attributed to the Bank of Ghana's Domestic Gold Purchase Programme (DGPP). According to Gyamfi, GoldBod operated as a buying agent for the central bank in 2025 and was entitled to fees similar to those paid to Precious Minerals Marketing Company (PMMC).

Gyamfi explained that GoldBod initially received the same fees as PMMC but later reduced them from 0.75% to 0.6% in October 2025 and then to 0.35% in January 2026.

The CEO disputed the suggestion that GoldBod's fees could be used to explain the losses attributed to the central bank, citing an IMF assessment which showed a significant difference between the alleged losses and the fees paid to GoldBod.