The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, says the institution is being managed with caution, discipline and prudent financial management to ensure its long-term sustainability.

He said GoldBod’s approach to its operations is guided by the need to protect public resources while maximising the economic benefits Ghana derives from its gold resources.

Mr Gyamfi said the institution had adopted a measured approach to its spending and operations, insisting that its financial management was not driven by excessive expenditure or unnecessary commitments.

He said the approach was also consistent with GoldBod’s broader objective of building a financially sustainable institution capable of playing a central role in Ghana’s gold sector and supporting the country’s foreign exchange reserves.

Speaking on Twitter Spaces on Sunday, August 9, Mr Gyamfi said, “We are managing GoldBod with modesty and prudence.”

He stressed that the institution’s financial position should be assessed based on its records and audited financial statements rather than speculation.

“GoldBod has never made a loss and our audited financial statement is on our site, and GoldBod is very financially sound,” he added.

Mr Gyamfi’s comments come amid discussions about GoldBod’s financial performance and its expanded mandate to oversee the buying and selling of gold in Ghana.