The Ghana Gold Board (GoldBod) has reported a significant discrepancy in its gold supply to the Bank of Ghana (BoG) in 2025. According to GoldBod's detailed trade report, the organization recorded a GH¢3.78 billion difference between the expected value of gold to be supplied and the actual value supplied. This difference includes over-supplies, under-supplies, and undistributed funds. The report highlights the complexities of GoldBod's transactions with the central bank.
GoldBod received total inflows of GH¢133.26 billion during 2025, with GH¢132.29 billion representing the expected value of gold to be supplied to the Bank of Ghana. However, the actual value of gold supplied stood at GH¢128.55 billion, representing 80,762.55 kilogrammes. This resulted in a balance of GH¢3.78 billion under the report's category for "Over Supply/Under Supply to BoG, including undistributed funds." The figure is significant and warrants further examination.
The GH¢3.78 billion difference is not a result of a single transaction but rather accumulated from several gold transactions throughout 2025. In some instances, GoldBod supplied gold worth more than the expected amount, while in others, the value supplied was below the expected figure or no corresponding gold supply was recorded. The trade report provides a breakdown of these transactions, offering insights into the fluctuations in gold supply.
One significant variance occurred on June 26, 2025, when GoldBod supplied gold valued at GH¢5.28 billion against an expected amount of approximately GH¢1.63 billion. This transaction resulted in an over-supply of about GH¢3.64 billion, with the gold weighing 3,579.36 kilogrammes. Such substantial differences were recorded on several occasions, contributing to the overall GH¢3.78 billion balance.
The detailed trade figures provide a comprehensive breakdown of the transactions that contributed to the GH¢3.78 billion balance reflected in GoldBod's 2025 financial position. The report offers a transparent account of GoldBod's transactions with the Bank of Ghana, highlighting the complexities of the gold supply process. This transparency is essential for stakeholders and the general public.
The GH¢3.78 billion figure is also reflected in GoldBod's audited financial statements for 2025. The statements show that GoldBod owed the Bank of Ghana GH¢3,780,727,736 under the Domestic Gold Purchase Programme, forming the largest component of its total trade payables of GH¢3,883,803,022 at the end of the financial year. This liability is a significant aspect of GoldBod's financial position.
The GoldBod's report and audited financial statements demonstrate the organization's commitment to transparency and accountability. The GH¢3.78 billion difference highlights the need for careful management of gold transactions and the importance of accurate reporting. As GoldBod continues to play a crucial role in Ghana's gold industry, its financial dealings will remain under scrutiny.
Key points
- GoldBod recorded a GH¢3.78 billion difference between expected and actual gold supplied to the Bank of Ghana in 2025.
- The difference accumulated from several gold transactions throughout 2025, with some instances of over-supply and under-supply.
- The GH¢3.78 billion figure is reflected in GoldBod's audited financial statements as a liability to the Bank of Ghana under the Domestic Gold Purchase Programme.
