GOLDBOD CEO's Foreign Reserves Claim: A Typo or Misinterpretation?
The CEO of the Ghana Gold Board (GOLDBOD), Sammy Gyamfi, has addressed a recent controversy surrounding a statement he made about Ghana's foreign reserves in 2016. In a statement issued on Wednesday, December 24, 2025, Mr. Gyamfi clarified that a reference to 2016 in his earlier post was indeed a 'clear typo' and should not be taken out of context.
The original post, which was fact-checked and dismissed by Joy FM's Research Desk, suggested a comparison of foreign reserve figures from 2016 to 2025. However, Mr. Gyamfi emphasizes that this was an error, as GOLDBOD was only established in 2025, making such a comparison illogical.
According to Mr. Gyamfi, the post was intended to highlight the significant increase in Ghana's foreign reserves from approximately $9 billion in 2024 to over $12 billion in 2025, which he attributed to the Gold Board's operations. He stated, 'The reference to 2016 in my earlier post was an obvious typo, and I promptly corrected it on my Facebook page before the fact-check report was published.'
The CEO further explained that he personally edited the post, replacing '2016' with '2024,' the correct year he intended to reference. He added, 'I later corrected the typo by editing my original post on my Facebook wall, and the proof of the correction is publicly available.'
Despite the initial controversy, Mr. Gyamfi maintains that the substance of his claim remains valid. He argues that the increase in foreign reserves between 2024 and 2025 reflects the positive impact of the Gold Board's operations. The public debate sparked by Joy FM's fact-check has since focused on the original reference to 2016, which was deemed incorrect.
Mr. Gyamfi urges the public to consider the corrected context of his statement, emphasizing that the controversy arose from a simple typographical error rather than an attempt to mislead. He invites readers to engage in the discussion and share their thoughts in the comments section.
This clarification aims to address the misunderstanding and provide a more accurate representation of Mr. Gyamfi's original intent.
