GoldBod to Take Over Strategic Gold Business from Bank of Ghana in 2026
On 27 December 2025, Ghana Gold Board (GoldBod) CEO Sammy Gyamfi announced that his company will take over the #gold trading and gold reserves from the Central Bank of Ghana (BoG) in line with the Ghana Gold Board Act. Previously, GoldBod was an agent of BoG, but soon it will be able to operate independently.
The relationship between GoldBod and the Bank of Ghana can be traced back to a legacy of the now-defunct Precious Minerals Marketing Company (PMMC). Thus, the arrangement was temporary until the new legislation comes into effect.
GoldBod has barely eight months of existence, and it was formed when it assumed PMMC’s assets, liabilities and existing contracts, including those under the Domestic Gold Purchase Program launched in 2022. As such, GoldBod was operating under an old legal framework, which has now been brought up to date.
CEO Gymfi noted that the GoldBod has not yet fully taken off during 2025 as its efforts were mainly focused on building up the institutional foundations required for independent operations. In 2026, GoldBod will address the structural issues and accounting challenges raised by the International Monetary Fund (IMF).
Under the new Gold Board Act, the statutory mandate will assign the responsibilities of regulation and enforcement to GoldBod with a view to curb smuggling, reduce leakages, and improve pricing efficiency.
Gymfi also underlined that the mandate of GoldBod is strategic, rather than purely commercial. For instance, GoldBod has to contribute to economic stability, instead of profit maximization.
In 2025, GoldBod exported more than 100 tonnes from Artisanal and Small-Scale Mining (ASM), which brought in some USD 10 billion in revenue for the state coffers. The record price of gold, as it surpassed the $4,000 mark per Troy Ounce, was definitely to the advantage of Ghana, which is one of the largest gold producers in Africa. For 2026, GoldBod expects its revenue level to exceed USD 12 billion. The figures for Industrial Mining are yet to be published.