GoldBod rejects claims it is making losses

The Ghana Gold Board has dismissed reports alleging it has recorded more than GH¢3 billion in losses during its first year of operations.

In a statement issued in Accra on November 17, the statutory body said the claims published by Asaase Radio were unfounded and part of what it described as an attempt to distort its performance record.

The Board maintained that its operations have contributed positively to the economy and insisted that its financial position remains strong, pointing to steady surpluses since its establishment.

It added that its quarterly financial statements will soon be made public on its official website to provide clarity and transparency.

The Board stated that the publication was “entirely false and deliberately contrived to undermine the successes and significant contribution of the GoldBod to the revitalization of Ghana’s economy.”

It added that “the GoldBod has been making significant surpluses/profit since its establishment,” and urged the public to “treat this false publication by Asaaseradio with utmost contempt.”

The statement further called on the management of the media outlet to retract the publication and issue an apology for what the Gold Board described as a misleading and unethical report.

It noted that the corporation remains committed to providing accurate information about its work and financial performance, especially as it prepares to publish the quarterly statements referenced in the release.

The Gold Board stressed that its mandate in the gold-for-development framework continues to yield concrete benefits and reaffirmed its readiness to engage stakeholders and the public with verified information.

It said transparent communication remains central to its mission as it works to stabilise and strengthen the country’s gold sector.