Ghana’s Gold Board (GoldBod) has recorded a significant operational surplus in its 2025 audited financial results, underpinned by sharp revenue growth and disciplined expenditure, even as the institution expanded its workforce and mandate.
According to the financial statements, GoldBod’s revenue surged from GHS 307.7 million in 2024 to GHS 970.8 million in 2025—representing more than a threefold increase within a year. The strong revenue performance highlights the institution’s growing role in the gold sector following reforms that transitioned operations from the defunct Precious Minerals Marketing Company (PMMC).
In a notable development, total expenditure declined from GHS 129.7 million in 2024 to GHS 109.4 million in 2025. This reduction comes despite a substantial increase in staff strength, with GoldBod employing 450 workers in 2025 compared to 114 under PMMC in 2024.
The ability to cut costs while scaling operations has been attributed to improved fiscal discipline and efficient resource management. As a result, GoldBod recorded an operational (non-tax) surplus of GHS 909.7 million, marking a significant financial milestone for the institution.
Analysts say the figures reflect a strategic shift toward value addition and enhanced oversight in Ghana’s gold trade, with GoldBod positioning itself as a more robust and financially sustainable entity.
The 2025 performance is expected to boost confidence in the government’s broader agenda to strengthen state participation in the extractive sector while ensuring efficiency and accountability.
Story By: Eric Boateng
