The Ghana Gold Board (GOLDBOD) generated GH¢970 million in non-tax revenue for the state in 2025 from assay fees charged on gold transactions, Chief Executive Officer Sammy Gyamfi has disclosed.
According to Mr Gyamfi, the revenue was generated from fees paid by the Bank of Ghana (BoG) and other licensed gold-buying companies for assaying services provided by GOLDBOD.
“GOLDBOD’s non-tax revenue was GH¢970 million in 2025,” he said.
He explained that the amount came from “the assay fees GOLDBOD charges the Bank of Ghana and other licensed gold-buying companies.”
Assaying is the process of testing gold to determine its purity, quality and other characteristics necessary to establish its value.
Mr Gyamfi said the fees constitute an important component of GOLDBOD’s operations and are paid by institutions and licensed operators that rely on the Board’s assaying services.
He said the GH¢970 million generated in 2025 underscores the revenue potential of Ghana’s gold industry when activities across the value chain are properly regulated, formalised and accounted for.
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Beyond revenue from assay fees, Mr Gyamfi said GOLDBOD is pursuing reforms aimed at formalising Ghana’s domestic gold trade, strengthening foreign exchange mobilisation and supporting the accumulation of the country’s gold reserves.
He indicated that the measures are ultimately designed to ensure that Ghana captures and retains a greater share of the economic value generated from its gold resources.
