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Ghana is deploying cutting-edge digital tools to crack down on illegal gold trading and establish global trust in its mining sector, according to the Chief Executive of the Ghana Gold Board.
Addressing the high-level Mining in Motion Summit in Accra, GoldBod CEO Sammy Gyamfi said Ghana’s gold exports must meet international due diligence standards, warning that criminal networks exploiting regulatory loopholes are undermining national economies.
“Before the end of this year, the GoldBod will roll out a digital traceability technology for its entire supply chain. This traceability system will enhance market access and value of the country’s ASM gold,” Mr Gyamfi said.
He added: “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.”
Gyamfi revealed that the Board is introducing an end-to-end tracking system that will ensure every ounce of gold produced in Ghana is digitally verified and traceable.
Gyamfi also emphasised the need for international cooperation, particularly among neighbouring countries, to harmonise regulatory standards and close cross-border smuggling routes.
“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,” he declared.
Ghana remains one of the world’s top ten gold producers, but analysts warn that informal and illegal mining operations account for a significant portion of its output — often escaping taxation and regulatory oversight.
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