GoldBod CEO Denies Responsibility for Ghana's GH¢22 Billion Gold Programme Loss

Ghana's GoldBod CEO Sammy Gyamfi has denied responsibility for the Bank of Ghana's GH¢22 billion loss under the Domestic Gold Purchase Programme in 2025.

Gyamfi stated that GoldBod acted only as a buying agent and aggregator for the central bank, with no role in determining selling prices or sale terms. He challenged critics to find any IMF documentation explicitly blaming GoldBod for the central bank's deficit.

The Bank of Ghana's operating loss hit GH¢15.6 billion, driven by aggressive monetary policy costs aimed at absorbing excess liquidity. The central bank spent GH¢16.73 billion on Open Market Operations (OMOs) and absorbed significant foreign exchange revaluation charges.