The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has issued a response to media reports that dragged his institution into the $214 million loss recorded under the Bank of Ghana’s Gold-for-Reserves programme.
In his attempt to clarify the profitability position of the GoldBod after an IMF assessment had indicated that trading losses and off-takers fees from the GoldBod had plunged the Central Bank’s Gold-for-Reserves programme losses, the CEO indicated that inflows from the GoldBod coupled with other factors had caused the country’s foreign reserves to increase from $9 billion in 2016 to $12 billion in 2025.