GoldBod triples revenue in 2025
The Ghana Gold Board (GoldBod) has delivered a strong financial performance in 2025, recording a significant rise in revenue alongside reduced expenditure, culminating in an operational surplus of GH¢909.8 million.
According to its audited financial statements for the year ended December 31, 2025, the Board’s non-tax revenue increased sharply from GH¢307.7 million in 2024 to GH¢970.8 million in 2025—more than tripling its internally generated income within its first full year of operations.
Despite this substantial revenue growth, total expenditure fell to GH¢109.4 million in 2025 from GH¢129.7 million in the previous year, reflecting prudent cost management even as the institution expanded its operations.
GoldBod was established following the transition from the defunct Precious Minerals Marketing Company (PMMC), inheriting and significantly broadening its mandate.
As part of this expansion, staff strength rose from 114 employees under PMMC in 2024 to 450 in 2025. The increase was to support additional responsibilities, including gold aggregation, licensing, assay services, inspections, anti-smuggling enforcement and export coordination.
Notwithstanding the nearly 300 percent growth in workforce, the Board maintained lower overall expenditure, a development analysts attribute to strong fiscal discipline and efficient resource utilisation.
Officials say the performance was driven by tighter spending controls, strategic allocation of resources and a sustained focus on operational efficiency across its activities.
The financial report indicates that the GH¢909.7 million operational surplus was generated solely from core non-tax activities. This excludes a GH¢4.55 billion government subvention provided as revolving capital for gold purchases, which was preserved by the Board.
The 2025 results are being seen as an early indication that GoldBod’s reform agenda is yielding results, translating structural changes into measurable financial gains while enhancing oversight within Ghana’s gold sector.
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