GoldBod generated GHc970m in non-tax revenue in 2025 – Sammy Gyamfi
The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has disclosed that the institution contributed GH¢970 million to the state’s non-tax revenue in 2025 through fees charged for gold assaying services.
Mr Gyamfi said the revenue was mainly generated from assay charges paid by the Bank of Ghana and licensed gold-buying companies for the testing and certification of gold transactions.
He explained that GoldBod’s revenue contribution demonstrates the institution’s financial impact beyond its regulatory role in Ghana’s gold industry.
“GoldBod’s non-tax revenue was GH¢970 million in 2025,” he stated.
According to him, the amount was derived from “the assay fees GoldBod charges the Bank of Ghana and other licensed gold-buying companies.”
Gold assaying is the process of examining gold to determine its purity and other qualities, which helps establish its accurate market value.
Mr Gyamfi noted that institutions and licensed operators that utilise GoldBod’s assaying services are required to pay the applicable fees, making the service an important source of revenue for the state.
He said the GH¢970 million recorded in 2025 underscores the significant revenue potential within Ghana’s gold sector when the industry is properly regulated, monitored and brought into the formal economy.
He further explained that GoldBod’s mandate extends beyond revenue generation, with the institution working to formalise domestic gold trading, improve foreign exchange mobilisation and strengthen Ghana’s gold reserve position.
Mr Gyamfi said the ongoing reforms are also designed to ensure that a larger portion of the economic value generated from Ghana’s mineral resources remains within the country.
He maintained that effective regulation and formalisation of the gold trade could therefore help unlock additional revenue opportunities while strengthening the sector’s contribution to Ghana’s economic development.
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