The Ghana Gold Board (GoldBod) has published its audited financial statements for the year ended December 31, 2025, reporting a strong financial performance with total revenue of GH₵5.55 billion, an operational surplus of GH₵909.8 million and an overall surplus of GH₵5.44 billion.

The audited financial report shows that GoldBod generated total revenue of GH₵5.55 billion, against total expenditure of GH₵109.58 million, resulting in an overall surplus of GH₵5.44 billion. After accounting for a profit of GH₵959,716 from GoldBod Jewellery Limited, the final surplus after stood at GH₵5.44 billion.

In the year under review, the Government of Ghana provided a seed capital of GH₵4.54 billion to support gold purchasing, trading and export operations of the Board. In addition, the GoldBod generated GH₵970.76 million in non-tax revenue and GH₵35.33 million in finance income.

The non-tax revenue stream was largely driven by Artisanal and Small-scale Mining (ASM) gold aggregation service charges, which contributed GH₵558.14 million, followed by assay fees of GH₵337.42 million. Registration and licensing fees brought in GH₵30.77 million, while inspection fees from large-scale mining companies accounted for GH₵41.85 million.

Other revenue sources included commissions on diamond exports amounting to GH₵1.62 million and Diamond Licensed Buying Companies fees of GH₵770.70 million.

On the expenditure side, GoldBod recorded a total spending of GH₵109.39 million, down from GH₵129.66 million in 2024 despite its expanded operations in 2025. The compensation of employees amounted to GH₵37.38 million, use of goods and services was GH₵28.33 million, specialised expenses recorded GH₵38.92 million, and depreciation charges of GH₵4.95 million.

Notably, the institution recorded no finance costs in 2025, compared with GH₵46.04 million in 2024, reflecting improved financial efficiency and reduced debt-servicing obligations.

Expenses were largely driven by task force deployment, which cost GH₵14.29 million, followed by Corporate Social Responsibility and the Special Intervention Programme (SIP) at GH₵11.25 million and GH₵5.26 million respectively. Establishment costs stood at GH₵5.8 million, while monitoring and inspection and assay services accounted for GH₵1 million and GH₵618,206, respectively.

The overall surplus recorded during the year included an operational surplus of GH₵909.71 million generated from core non-tax activities and an unutilized government subvention of GH₵4.55 billion.

GoldBod’s balance sheet also showed strong liquidity and a solid asset base. Total Assets as of December 31, 2025, stood at GH₵9.46 billion, registering a growth of 468 percent over the fiscal year. Total Liabilities amounted to GH₵3.95 billion, resulting in Net Assets position of GH₵5.60 billion.

Cash and Cash equivalents rose sharply to GH₵8.77 billion from GH₵738.18 million in 2024, supported by strong Operating Cash inflows of GH₵8.06 billion during the year from its operations.

Accumulated Surplus stood at GH₵5.58 billion, further strengthening the institution’s financial position.

Current liabilities included trade payables of GH₵3.88 billion, with GH₵3.78 billion relating to amounts payable 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. These obligations relate to legacy facilities with Royal Bank and Unibank Ghana Limited inherited from the defunct Precious Minerals Marketing Company (PMMC).

The Board of Directors stated that they are satisfied GoldBod has adequate resources to continue in operational existence for the foreseeable future and consequently prepared the financial statements on a going-concern basis.

The 2025 financial performance positions GoldBod as one of the strongest-performing state institutions in Ghana’s extractive sector, underlining its expanding role in gold aggregation, trade facilitation, and mineral sector value retention for the national economy.