The Ghana Gold Board (GoldBod) is tightening its grip on the country’s gold value chain through the launch of a comprehensive national aggregation system aimed at combating illegal gold smuggling and formalising artisanal and small-scale mining (ASM) operations.
According to its Chief Executive Officer, Sammy Gyamfi, the initiative marks a major policy shift in protecting Ghana’s mineral wealth and ensuring that gold revenues benefit the national economy.
“We have intensified the fight against gold smuggling like never before.
“Effective aggregation networks and systems have been rolled out across the country to mop up almost all ASM gold produced.”
Mr. Sammy Gyamfi, Chief Executive Officer of GoldBod
Ghana, one of Africa’s top gold producers, has struggled with illicit ASM exports for years, resulting in lost revenue, distorted trade statistics, and unregulated environmental damage.
The new gold aggregation system is designed to capture ASM gold at source, strengthen traceability, and direct it into legal, export-ready channels.
“Today, the state is mopping up ASM gold responsibly. We are exporting it and bringing in the corresponding foreign exchange to support the economy.”
Mr. Sammy Gyamfi, Chief Executive Officer of GoldBod
The aggregation model works by consolidating gold produced by small-scale miners through a network of certified agents and licensed dealers before it is vetted and exported under Gold Board supervision.
This ensures traceability and aligns with international anti-money laundering standards.
“This is a game-changer. The previous era when large volumes of ASM gold were smuggled out of the country, robbing Ghana of crucial revenue and exposing the sector to environmental risks, is now being firmly addressed.”
Mr. Sammy Gyamfi, Chief Executive Officer of GoldBod
According to the Gold Board, the system also helps improve sectoral transparency and eliminate the influence of shadowy middlemen who often exploit ASM miners and bypass government regulation entirely.
Strengthening Financial Oversight
Beyond gold collection, the GoldBod is also implementing new licensing requirements to ensure operators meet rigorous due diligence and financial compliance benchmarks.
Mr. Gyamfi explained that prospective licensees must now pass Know Your Customer (KYC) verification and background checks in collaboration with the Bank of Ghana and the Financial Intelligence Centre.
“This is part of our broader commitment to promoting anti-money laundering and counter-terrorism financing regulations.
“We’re determined to ensure that the gold trade in Ghana is transparent, secure, and beneficial to the national economy.”
Mr. Sammy Gyamfi, Chief Executive Officer of GoldBod
The decision aligns Ghana’s gold policy with international best practices, as regulators seek to sanitise the sector and reposition it as a credible, investment-friendly pillar of the economy.
The crackdown on illegal mining and gold smuggling is already producing ripple effects across the mining ecosystem.
Better traceability and accountability in gold exports will attract more foreign direct investment (FDI), enhance the credibility of Ghana’s gold on international markets, and restore confidence in the regulatory framework.
Moreover, by bringing more ASM gold into the formal system, the Gold Board is helping to open new avenues for partnerships between small-scale miners and banks, refiners, and exporters.
“We believe this initiative not only secures our gold but also secures our future. “The reforms are about more than regulation—they’re about national transformation.”
Mr. Sammy Gyamfi, Chief Executive Officer of GoldBod
The aggregation system is just one of several reforms underway at the Gold Board. Plans are also in motion to establish an ISO-certified national assay laboratory by 2026, in addition to deploying gold tokenisation and digital tracking systems to further modernise the sector.
Mr. Gyamfi called on Ghana’s international partners and stakeholders across the mining value chain to collaborate with the Gold Board in driving responsible sourcing and enhancing value addition.
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