The Ghana Gold Board (GoldBod) has published its audited financial statements for the year ended 31 December 2025, reporting a strong financial performance with total revenue of GH₵5.55 billion and an overall surplus of GH₵5.44 billion.
According to the report, the board recorded an operational surplus of GH₵909.8 million after total expenditure of GH₵109.58 million.
After accounting for a profit of GH₵959,716 from GoldBod Jewellery Limited, the final surplus remained GH₵5.44 billion.
The government of Ghana provided seed capital of GH₵4.54 billion during the year to support gold purchasing, trading and export operations. GoldBod also generated GH₵970.76 million in non-tax revenue and GH₵35.33 million in finance income.
The non-tax revenue was driven mainly by Artisanal and Small-scale Mining (ASM) aggregation service charges, which contributed GH₵558.14 million, and assay fees amounting to GH₵337.42 million.
Registration and licensing fees brought in GH₵30.77 million, while inspection fees from large-scale mining companies contributed GH₵41.85 million.
Additional income came from diamond-related activities, including GH₵1.62 million in commissions on diamond exports and GH₵770.70 million in Diamond Licensed Buying Companies fees.
On the expenditure side, GoldBod spent GH₵109.39 million in 2025, down from GH₵129.66 million in 2024, despite expanded operations. Compensation of employees stood at GH₵37.38 million, goods and services at GH₵28.33 million, specialised expenses at GH₵38.92 million, and depreciation at GH₵4.95 million.
Task force deployment cost GH₵14.29 million, while Corporate Social Responsibility and the Special Intervention Programme accounted for GH₵11.25 million and GH₵5.26 million respectively.
Establishment costs were GH₵5.8 million, with monitoring and inspection and assay services costing GH₵1 million and GH₵618,206.
Significantly, the institution recorded zero finance costs in 2025 compared to GH₵46.04 million in 2024, reflecting improved financial efficiency and reduced debt servicing.
The report also shows strong liquidity growth, with total assets rising to GH₵9.46 billion—representing a 468% increase. Total liabilities stood at GH₵3.95 billion, leaving net assets of GH₵5.60 billion.
Cash and cash equivalents surged to GH₵8.77 billion from GH₵738.18 million in 2024, supported by operating cash inflows of GH₵8.06 billion.
Accumulated surplus stood at GH₵5.58 billion, while trade payables of GH₵3.88 billion formed part of current liabilities, including GH₵3.78 billion owed to the Bank of Ghana under the Domestic Gold Purchase Programme.
Long-term borrowings reduced to GH₵17 million from GH₵30 million in 2024, relating to legacy obligations inherited from the defunct Precious Minerals Marketing Company (PMMC).
The Board of Directors stated that GoldBod has adequate resources to continue operations for the foreseeable future, and the financial statements were therefore prepared on a going-concern basis.
The 2025 results position GoldBod as one of Ghana’s strongest-performing state institutions in the extractive sector, reflecting its expanding role in gold aggregation, trade facilitation and value retention for the national economy.
