JoyNews · 1h ago

GoldBod CEO Grilled by Public Accounts C'tee Over Auditor-General’s Report and Financial Infractions

GoldBod CEO Sammy Gyamfi appears before Parliament’s Public Accounts Committee (PAC) to respond to concerns over infractions and financial matters raised in the Auditor-General’s report on the Ghana Gold Board’s 2025 operations. During the hearing, Gyamfi defended GoldBod’s financial position, citing an operational surplus and an overall surplus for 2025. He also addressed spending on 150 task force members, corporate social responsibility activities focused on education and health, and the status of PMMC’s unaudited financial statements between 2020 and 2025. The hearing further examined GoldBod’s role in generating foreign exchange, its operations within the Bank of Ghana’s regulatory framework, the outstanding debt issue involving the BoG and Red Sapphire, and a GRA tax audit expected to be completed by November. Gyamfi also highlighted local gold refining, stating that 80–90% of Ghana’s mined gold is refined locally before export. As PAC scrutinises public spending and institutional accountability, the key issue is whether GoldBod’s explanations adequately address the concerns raised in the audit report.