The Ghana Gold Board (GoldBod) has recovered GH¢38.71 million, representing 69.2 per cent of GH¢55.88 million owed to its predecessor, the Precious Minerals Marketing Company (PMMC), by third parties, Chief Executive Officer Sammy Gyamfi has disclosed.
Gyamfi said the outstanding debts were identified during an audit of PMMC’s financial statements for 2020 to 2024, which had not been audited for five consecutive years.
He disclosed this when he appeared before Parliament’s Public Accounts Committee on Tuesday, 13 October 2026.
According to Gyamfi, the audit revealed that third parties owed PMMC GH¢55.88 million as of 31 December 2023.
He said management subsequently issued demand notices to recover the debts and had retrieved GH¢38.71 million as of September 30, 2026.
The remaining GH¢17.1 million is being pursued through court proceedings, demand notices and negotiations with the debtors.
“Of the remaining amount of GH¢17.1 million, approximately GH¢7.5 million is involved in matters before courts of competent jurisdiction, and an amount of approximately GH¢9.6 million relates to debts that we are currently pursuing through various civil options like demand notices and negotiations with the parties concerned,” he told the committee.
Gyamfi expressed optimism that GoldBod would recover more of the outstanding amount before the end of the year.
“We hope that by the end of this year we will have even increased what we have recovered so far,” he said.
The recovery exercise forms part of GoldBod’s efforts to address outstanding financial obligations inherited from PMMC, its predecessor institution.
