Mahama Commends GoldBod’s $896.5m Net Profit, Calls for Sustained Performance

President John Dramani Mahama has commended the Ghana Gold Board (GoldBod) for its strong financial performance, describing the results as deserving of recognition while cautioning that the institution must sustain its gains through stronger core operations.

Speaking at the 2026 Governing Boards and Chief Executive Officers’ Conference organised by the State Interests and Governance Authority (SIGA), President Mahama highlighted GoldBod’s significant improvement in profitability.

According to the President, GoldBod recorded a net profit of approximately US$896.5 million, compared with US$178.5 million in 2024, representing a remarkable turnaround in the institution’s financial performance.

He said the results demonstrated the strategic importance of establishing transparent, accountable and nationally beneficial structures around Ghana’s gold trade.

“This performance reflects the strategic importance of building transparent, accountable and nationally beneficial structures around Ghana’s gold trade,” President Mahama said.

He noted that the financial results deserved commendation, given the substantial increase in GoldBod’s profitability.

“These results deserve commendation,” he stated.

However, President Mahama stressed that the positive performance must be maintained over the long term and should not be dependent solely on favourable external conditions.

He cautioned that GoldBod must strengthen its core operations to ensure that its financial success remains sustainable, rather than relying indefinitely on improvements in the business environment or movements in the exchange rate.

“They must, however, be sustained through stronger core operations and cannot depend indefinitely on just a better business environment and the exchange rate movements,” the President said.

President Mahama added that while the one-year financial turnaround was encouraging, the real measure of GoldBod’s success would be its ability to maintain and build upon the performance in the years ahead.

“A one-year turnaround is encouraging, but sustained performance is the real test,” he emphasised.

The President’s comments refocus attention on GoldBod’s role in Ghana’s gold sector and the need for strong governance, transparency, and operational efficiency to ensure the country derives lasting national benefits from its gold resources.