“In the coming weeks, the GoldBod shall in conjunction with the National Security Secretariat launch a standing anti-gold smuggling taskforce, to further strengthen our fight against the illicit menace. All persons who fall foul of the law will be dealt with no matter whose ox is gored. No one will be spared”, Sammy Gyamfi, Chief Executive of the Ghana Gold Board (GoldBod) has warned.
The GoldBod Chief Executive said the anti-gold smuggling taskforce is one of the measurers government has introduced to ensure the practice of illegal gold trading and uncontrolled gold smuggling in the country ends.
Sammy Gyamfi noted further: “The GoldBod will ensure that Ghana’s gold is traded and exported legally and the forex proceeds thereof, fully repatriated to support our economy and improve the livelihoods of our people. We shall not rest until every gold smuggler is put behind bars.”
Mr. Gyamfi’s remarks on Tuesday June 2, 2025 when he addressed the Mining in Motion Summit 2025, hosted under the auspices of the Asantehene Otumfuo Osei Tutu II, in collaboration with the Government of Ghana at the Kempinski Hotel, Gold Coast City, Accra.
He lamented that though Ghana is currently the largest producer of gold in Africa and a key player in the extractive sector of Africa and the world at large, the country has had challenges in maximising its gold resource for the prosperity of its people due to a poorly regulated gold market with institutions of state are poorly coordinated, until the establishment of the GoldBod.
Sammy Gyamfi disclosed further that the GoldBod is all set to spearhead the training of artisanal small scale miners in environmentally-friendly mining and modern recovery optimization techniques.
He said to further increase Ghana’s ASM gold output, the GoldBod and its investor partners will invest in the cooperative mining program of the Ministry of Lands and Natural Resources.
“We will also partner with hard rock small-scale, medium-scale and large scale mining firms to maximize the sustainable production of gold in the country and national revenue for development. Investors who will be partnering the GoldBod in this program, will receive payments for their investment in discounts on gold over a 24-36 months period.
“Let me also state, that the GoldBod is committed to spending a significant portion of our trading surplus on land reclamation and other sustainable initiatives such as the Blue Water and Tree for Life programs launched by government”, Sammy Gyamfi added.
He also spoke of plans to roll an innovative digital traceability technology across the entire supply chain of the gold market in Ghana.
“This traceability system will enhance market access and value of the country’s ASM gold. In the medium to long term, it will ensure that every gram of gold purchased by the GoldBod is traceable throughout its various custody points, all the way to the mine it was produced. And that mine must be a licensed mine engaged in legal, responsible and sustainable mining in accordance with the mining laws of Ghana and international best practices,” Sammy Gyamfi explained.
