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An Ethiopian engineer is set to build a satellite manufacturing factory in Burkina Faso !
The renowned Ethiopian technologist and entrepreneur, Engineer Bijay Naiker, announced that they have reached an agreement to establish a major technology center in Burkina Faso, where Africa will produce its own satellites.
#africansbuildingafricaAn Ethiopian engineer is set to build a satellite manufacturing factory in Burkina Faso 🇧🇫! The renowned Ethiopian technologist and entrepreneur, Engineer Bijay Naiker, announced that they have reached an agreement to establish a major technology center in Burkina Faso, where Africa will produce its own satellites. #africansbuildingafrica
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social media addiction is relative and very subjective, where do we draw the line ... per research social media users are not looking for the traditional information sharing and gathering. they are looking for apps that gives better graphics, flashy pop ups, engaging visual contents etc. and all these in the long run drives addiction. the truth is you need not be on a social platform for hours before you start building addiction it's instant. so even with parental control, times out features etc would not curb long term addiction in children. lets all be moderate in sharing and consuming content that are relevant to us.social media addiction is relative and very subjective, where do we draw the line ... per research social media users are not looking for the traditional information sharing and gathering. they are looking for apps that gives better graphics, flashy pop ups, engaging visual contents etc. and all these in the long run drives addiction. the truth is you need not be on a social platform for hours before you start building addiction it's instant. so even with parental control, times out features etc would not curb long term addiction in children. lets all be moderate in sharing and consuming content that are relevant to us.
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December 24, 2025
News
GoldBod CEO Sets Record Straight on Bank of Ghana Loss Claims
The Chief Executive Officer of the Ghana Gold Board, Mr. Sammy Gyamfi, Esq. has addressed concerns surrounding reports of losses incurred by the Bank of Ghana, offering clarification on the figures and the role of gold purchases and exports in strengthening the country’s foreign exchange position.
In a statement, the GoldBod CEO explained that the claims of losses, when placed in proper context, do not accurately reflect the broader economic impact of gold-backed transactions and foreign exchange inflows.
He emphasized that GoldBod’s operations have contributed significantly to stabilising the cedi, supporting external payments, and reinforcing the Bank of Ghana’s foreign reserves through structured gold purchasing and export programmes.
Below is his post on Facebook concerning the issue:
While the Ghana Gold Board (GoldBod) values and appreciates, feedback and constructive criticism, it is important to clarify certain misconceptions making rounds in the media space about the trade operations of the GoldBod.
1. First and foremost, the Ghana Gold Board has made no losses. Rather, the GoldBod has made significant profit/surplus under its gold trading programs in the year 2025. Financial statements of the GoldBod (unaudited) published on its website, bear this fact out and indicate that the institution is set to declare income surplus of not less than GH600 million for the year 2025.
2. The GoldBod has this year been responsible for only the local purchasing, assay and export of gold for the Bank of Ghana (BoG). The selling or trading of gold purchased by GoldBod to off-takers lies in the exclusive domain of the BoG.
3. The GoldBod is not aware of any loss of $214 million incurred by the BoG under the Gold for Reserve Program on account of “GoldBod offtaker fees”. The financials of the Gold for Reserve and Gold for Forex programs of the Bank of Ghana for the year 2025 are yet to be audited.
4. For the records, there is nothing like “GoldBod offtaker fees” under the ASM gold trading program. That assertion is incorrect. The GoldBod per its 2025 operations, does not deal with off-takers. Neither does the GoldBod charge any off-taker fees. All off-take agreements are signed and implemented by the Bank of Ghana. Under these off-take agreements, discounts covering freight, insurance, refining charges etc. are granted by the BoG to off-takers.
5. The only fees the GoldBod takes from the BoG, is a statutory Assay Fee of 0.25% and a Service Charge of 0.5%. These fees are not new. In fact, they were inherited by the GoldBod from a 2023 Gold Purchase Agreement between the BoG and the defunct PMMC. There has been no increase by the GoldBod of these fees in the year 2025. Additionally, commissions to licensed buyers are borne by the BoG.
6. It remains an indisputable fact, that the GoldBod has generated over $10 billion dollars in foreign exchange for the country in 2025 alone from its local purchasing of over 100 tons of ASM gold for the BoG. The GoldBod also buys 20% of the gold output of nine large scale companies for the BoG to shore up its gold reserves.
7. This coupled with other factors, have led to a historic increase in the country’s foreign reserves from $9 billion in 2016 to a record high of about $12 billion dollars in 2025. As a result, the Ghana cedi has appreciated against the U.S dollar from year to date by over 35% making it the first time since 2007, that the cedi has appreciated against the U.S. dollar. This has significantly reduced the country’s debt obligations, kept inflation at single digit and reduced general cost of living. These gains have positively impacted every facet of the Ghanaian economy.
8. What would have been the state of the Ghanaian economy today without the $10 billion FX inflows from just the ASM trade operations of the GoldBod this year? The economic benefits of GoldBod’s operations are simply unquantifiable.
9. The GoldBod is barely eight months old. Its operations in 2025 have largely been one of an agent role for the BoG. The GoldBod is simply paid a statutory Assay Fee of 0.258% and a service charge of 0.5% for services it renders to the BoG, as per the 2023 Gold Purchase Agreement between the PMMC and the BoG. As a non-subvented state agency, these fees constitute the bulk of the corporation’s IGF for the smooth running of its operations.
10. The GoldBod is set to fully takeover the ASM gold trading program effective January 2026. Under this new arrangement, the GoldBod will solely be responsible for both the purchasing, trading and sale of gold under the program, with no fee obligation to the BoG. The issue of GoldBod’s fees and charges and their impact on BoG’s books will thus, be a thing of the past in the year 2026. The GoldBod is ready to embrace this new challenge and use its revolving seed trade capital allocated to it by government to deliver positive returns for the Ghanaian people. The future is bright for Ghana.
Related News
News
GoldBod to Assume Full Operational Control in 2026 as Reforms End Agency Role for Bank of Ghana
Read More
News
GoldBod Exceeds 2025 Small-Scale Gold Export Target, Rakes in Over US$10bn
Read More
News
GoldBod Jewellery Welcomes Diasporans with December Discounts and Gold Keepsakes
Read More
The Ghana Gold Board (GoldBod) is the sole authority with exclusive rights to buy, sell, weigh, grade, assay, value and export gold and other precious minerals in Ghana.
Contact us
info@goldbod.gov.gh
Goldbod Head Office, 1 Thorpe Road, Accra, Ghana
+233 030 295 3279 / 84
Company
About us
Licensing
CSR
Copyright © 2025 Ghana Gold Board All Rights Reserved
December 24, 2025 News GoldBod CEO Sets Record Straight on Bank of Ghana Loss Claims The Chief Executive Officer of the Ghana Gold Board, Mr. Sammy Gyamfi, Esq. has addressed concerns surrounding reports of losses incurred by the Bank of Ghana, offering clarification on the figures and the role of gold purchases and exports in strengthening the country’s foreign exchange position. In a statement, the GoldBod CEO explained that the claims of losses, when placed in proper context, do not accurately reflect the broader economic impact of gold-backed transactions and foreign exchange inflows. He emphasized that GoldBod’s operations have contributed significantly to stabilising the cedi, supporting external payments, and reinforcing the Bank of Ghana’s foreign reserves through structured gold purchasing and export programmes. Below is his post on Facebook concerning the issue: While the Ghana Gold Board (GoldBod) values and appreciates, feedback and constructive criticism, it is important to clarify certain misconceptions making rounds in the media space about the trade operations of the GoldBod. 1. First and foremost, the Ghana Gold Board has made no losses. Rather, the GoldBod has made significant profit/surplus under its gold trading programs in the year 2025. Financial statements of the GoldBod (unaudited) published on its website, bear this fact out and indicate that the institution is set to declare income surplus of not less than GH600 million for the year 2025. 2. The GoldBod has this year been responsible for only the local purchasing, assay and export of gold for the Bank of Ghana (BoG). The selling or trading of gold purchased by GoldBod to off-takers lies in the exclusive domain of the BoG. 3. The GoldBod is not aware of any loss of $214 million incurred by the BoG under the Gold for Reserve Program on account of “GoldBod offtaker fees”. The financials of the Gold for Reserve and Gold for Forex programs of the Bank of Ghana for the year 2025 are yet to be audited. 4. For the records, there is nothing like “GoldBod offtaker fees” under the ASM gold trading program. That assertion is incorrect. The GoldBod per its 2025 operations, does not deal with off-takers. Neither does the GoldBod charge any off-taker fees. All off-take agreements are signed and implemented by the Bank of Ghana. Under these off-take agreements, discounts covering freight, insurance, refining charges etc. are granted by the BoG to off-takers. 5. The only fees the GoldBod takes from the BoG, is a statutory Assay Fee of 0.25% and a Service Charge of 0.5%. These fees are not new. In fact, they were inherited by the GoldBod from a 2023 Gold Purchase Agreement between the BoG and the defunct PMMC. There has been no increase by the GoldBod of these fees in the year 2025. Additionally, commissions to licensed buyers are borne by the BoG. 6. It remains an indisputable fact, that the GoldBod has generated over $10 billion dollars in foreign exchange for the country in 2025 alone from its local purchasing of over 100 tons of ASM gold for the BoG. The GoldBod also buys 20% of the gold output of nine large scale companies for the BoG to shore up its gold reserves. 7. This coupled with other factors, have led to a historic increase in the country’s foreign reserves from $9 billion in 2016 to a record high of about $12 billion dollars in 2025. As a result, the Ghana cedi has appreciated against the U.S dollar from year to date by over 35% making it the first time since 2007, that the cedi has appreciated against the U.S. dollar. This has significantly reduced the country’s debt obligations, kept inflation at single digit and reduced general cost of living. These gains have positively impacted every facet of the Ghanaian economy. 8. What would have been the state of the Ghanaian economy today without the $10 billion FX inflows from just the ASM trade operations of the GoldBod this year? The economic benefits of GoldBod’s operations are simply unquantifiable. 9. The GoldBod is barely eight months old. Its operations in 2025 have largely been one of an agent role for the BoG. The GoldBod is simply paid a statutory Assay Fee of 0.258% and a service charge of 0.5% for services it renders to the BoG, as per the 2023 Gold Purchase Agreement between the PMMC and the BoG. As a non-subvented state agency, these fees constitute the bulk of the corporation’s IGF for the smooth running of its operations. 10. The GoldBod is set to fully takeover the ASM gold trading program effective January 2026. Under this new arrangement, the GoldBod will solely be responsible for both the purchasing, trading and sale of gold under the program, with no fee obligation to the BoG. The issue of GoldBod’s fees and charges and their impact on BoG’s books will thus, be a thing of the past in the year 2026. The GoldBod is ready to embrace this new challenge and use its revolving seed trade capital allocated to it by government to deliver positive returns for the Ghanaian people. The future is bright for Ghana. Related News News GoldBod to Assume Full Operational Control in 2026 as Reforms End Agency Role for Bank of Ghana Read More News GoldBod Exceeds 2025 Small-Scale Gold Export Target, Rakes in Over US$10bn Read More News GoldBod Jewellery Welcomes Diasporans with December Discounts and Gold Keepsakes Read More The Ghana Gold Board (GoldBod) is the sole authority with exclusive rights to buy, sell, weigh, grade, assay, value and export gold and other precious minerals in Ghana. Contact us info@goldbod.gov.gh Goldbod Head Office, 1 Thorpe Road, Accra, Ghana +233 030 295 3279 / 84 Company About us Licensing CSR Copyright © 2025 Ghana Gold Board All Rights Reserved
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the Budapest memorandum was one of the worse international diplomacy Ukraine did commit to. how do you relinquish your position as the 3rd most resourced nuclear facility just after USA and RUSSIA in exchange for security protection from these same people. 31years on see what's happening to Ukrainethe Budapest memorandum was one of the worse international diplomacy Ukraine did commit to. how do you relinquish your position as the 3rd most resourced nuclear facility just after USA and RUSSIA in exchange for security protection from these same people. 31years on see what's happening to Ukraine
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#justbekind
what's your simple definition of kindness Sandra Onomah Shakur Mensah Cyril Nai Claudine Degboe Epiphane DEGBOE Hetty Stephens#justbekind what's your simple definition of kindness [Sandee] [Ponwaays] [Ataa_npka25] [Claudinedegboe] [Epiphanedegboe] [condy]
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the African tech eco system is greatly flooded by fintech startups .... these startups mostly get initial funding from ventures in the west ... but the question is why are the ventures not helping push the same fintech ideas to the people of the west. at the end most of these startups fold up as if they never existed. there is a disconnect and as tech people we need to find itthe African tech eco system is greatly flooded by fintech startups .... these startups mostly get initial funding from ventures in the west ... but the question is why are the ventures not helping push the same fintech ideas to the people of the west. at the end most of these startups fold up as if they never existed. there is a disconnect and as tech people we need to find it0 Σχόλια 0 Μοιράστηκε 87 Views 0 Προεπισκόπηση1
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the next strategy the west will consider using to control Africa is technology, the same system they forced our leaders to sign up for will be the exact system they will use to enslave us (economically) today it's SWIFT, tomorrow it will be Xthe next strategy the west will consider using to control Africa is technology, the same system they forced our leaders to sign up for will be the exact system they will use to enslave us (economically) today it's SWIFT, tomorrow it will be X 🤐
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Energy Minister John Abdulai Jinapor has announced a significant boost in the capacity of the Atuabo Gas Processing Plant, increasing it from 100 million to 120 million metric standard cubic feet per day following a period of maintenance.Energy Minister John Abdulai Jinapor has announced a significant boost in the capacity of the Atuabo Gas Processing Plant, increasing it from 100 million to 120 million metric standard cubic feet per day following a period of maintenance.
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did you know Russia sold Alaska to the United States at a cost of $7.2 million in 1867 and base on historic data Alaska has generated over $2.1 trillion in resources to the US. below is the original cheque used for the transactiondid you know Russia sold Alaska to the United States at a cost of $7.2 million in 1867 and base on historic data Alaska has generated over $2.1 trillion in resources to the US. below is the original cheque used for the transaction
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what happens if your notes get burnt?
* first try and identify the serial number of each note and copy it down
* secondly go to any police station and get a report
* thirdly visit any commercial or the main central or federal bank, submit the burnt currency, the serial number and the supporting police report
* final receive your money back after the bank has completed it's paper works. NB some commercials banks will not ask for a police report but it's safe to do have it because it's free Cyril Nai Stephans Truly Ekow Amoahwhat happens if your notes get burnt? * first try and identify the serial number of each note and copy it down * secondly go to any police station and get a report * thirdly visit any commercial or the main central or federal bank, submit the burnt currency, the serial number and the supporting police report * final receive your money back after the bank has completed it's paper works. NB some commercials banks will not ask for a police report but it's safe to do have it because it's free 😊 [Ataa_npka25] [Stephans] [Ekow]
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