The Ghana Gold Board (GoldBod) has recorded a remarkable improvement in operational efficiency in 2025, growing its revenue exponentially while simultaneously reducing expenditure. This was in spite of a major expansion in staff strength and institutional mandate.
According to the Board’s audited financial statements as at December 31, 2025, GoldBod increased its non-tax revenue from GH₵307.7 million in 2024 to GH₵970.8 million in 2025, representing more than 300% in internally generated income within its first year of operations.
In a sharp contrast, total expenditure declined from GH₵129.7 million in 2024 to GH₵109.4 million in 2025, reflecting strong fiscal prudence even as the institution assumed significantly broader responsibilities.
The performance is particularly notable given the transition from the defunct Precious Minerals Marketing Company (PMMC) to the Ghana Gold Board, which came with a substantial increase in operational scope, regulatory oversight and workforce capacity.
While PMMC operated with a total staff strength of 114 employees in 2024, GoldBod expanded its workforce to 450 employees in 2025 to support its enhanced mandate across gold aggregation, licensing, assay services, inspections, anti-smuggling enforcement and export coordination.
Despite the over 290% increase in staff strength, the Board was able to keep expenditure relatively lower than the previous year, a development analysts say reflects strong institutional discipline and efficient public sector management.
Officials attribute the outcome to tighter expenditure controls, strategic resource allocation and a deliberate focus on operational efficiency.
This enabled the GoldBod to record an operational surplus of GH₵909.7 million from its core (non-tax) activities, excluding the GH₵4.55 billion government subvention provided as revolving trade capital for gold purchases which was preserved by the organization.
From the audited financial report, GoldBod’s ability to increase revenue, reduce costs and deliver a strong operational surplus within its first year is emerging as one of the clearest indicators that the institution’s reform agenda is translating into measurable financial results.
