GoldBod Recovers GH¢38.7 Million in PMMC Debt as Sammy Gyamfi Reveals Latest Figures

The Ghana Gold Board (GoldBod) has recovered GH¢38.7 million out of the GH¢55.9 million owed to its predecessor, the Precious Minerals Marketing Company (PMMC), by third parties, representing approximately 69.2 per cent of the outstanding debt.

GoldBod Chief Executive Officer Sammy Gyamfi disclosed the figures when he appeared before Parliament’s Public Accounts Committee (PAC) on Tuesday, October 13, 2026.

He explained that the debts were uncovered during an audit of PMMC’s financial statements for the period between 2020 and 2024, following five consecutive years without an audit.

According to Mr Gyamfi, the review established that third parties owed PMMC approximately GH¢55.88 million as of December 31, 2023.

Following the discovery, GoldBod management issued demand notices to the debtors and intensified efforts to retrieve the outstanding amounts.

By September 30, 2026, the Board had recovered GH¢38.71 million, leaving a balance of approximately GH¢17.1 million.

Mr Gyamfi said GoldBod was pursuing the remaining debt through legal proceedings, formal demands, negotiations and other civil recovery measures.

He explained that about GH¢7.5 million of the outstanding balance was linked to cases before courts of competent jurisdiction, while efforts to recover the remaining GH¢9.6 million were ongoing through negotiations, demand notices and other civil procedures.

The GoldBod chief executive expressed optimism that the Board would recover a larger portion of the outstanding debt before the end of 2026.

Source: https://3news.com/news/sammy-gyamfi-goldbod-recovers-ghc38-7m-of-ghc55-9m-owed-to-pmmc

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