The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, says the institution generated GH¢970 million in non-tax revenue for the state in 2025 through assay fees charged on gold transactions.

According to him, the revenue was generated from fees paid for the assaying of gold, including transactions involving the Bank of Ghana and licensed gold-buying companies.

Mr Gyamfi said the figure demonstrates GoldBod’s direct contribution to state revenue beyond its broader mandate of regulating and formalising Ghana’s gold trading sector.

“GoldBod’s non-tax revenue was GH¢970 million in 2025,” he said.

He explained that the revenue came from “the assay fees GoldBod charges the Bank of Ghana and other licensed gold-buying companies.”

Assaying involves testing gold to determine its purity and other characteristics necessary for accurately establishing its value.

Mr Gyamfi said the fees are therefore part of GoldBod’s operations and are paid by institutions and licensed operators that use its assaying services.

He maintained that the GH¢970 million generated in 2025 highlights the potential of Ghana’s gold industry to provide the state with additional sources of revenue when activities within the sector are properly regulated and accounted for.

Beyond the assay fees, Mr Gyamfi said GoldBod’s operations are aimed at formalising the domestic gold trade, improving foreign exchange mobilisation and supporting the accumulation of Ghana’s gold reserves.

He added that the institution’s reforms are intended to ensure that Ghana retains a greater share of the value generated from its gold resources rather than allowing significant economic benefits to accrue outside the country.