The Chamber of Licensed Gold Buyers (CLGB) has lauded the Ghana Gold Board (GoldBod) for its transformative role in formalising the country’s artisanal and small-scale mining (ASM) sector, a move that has boosted gold production, strengthened foreign exchange inflows, and enhanced regulatory oversight in the gold trade.
The Chamber described GoldBod’s reforms since its establishment under the GoldBod Act, 2025 (Act 1140) as “a game-changer” in promoting transparency, accountability, and value retention in Ghana’s gold industry.
“Formalisation of the ASM sector is not just a regulatory improvement.
“It is a game-changer for value retention, economic development, and sustainable mining practices.”
Kwaku Amoah, Chief Executive Officer of the Chamber of Licensed Gold Buyers
He added that the surge in production and export earnings demonstrates how structured regulation and transparency can unlock Ghana’s mineral potential while ensuring that small-scale miners contribute meaningfully to national development.
“The figures speak for themselves. Formalised small-scale mining is now a major contributor to Ghana’s gold production and export revenue.”
Kwaku Amoah, Chief Executive Officer of the Chamber of Licensed Gold Buyers
According to the CLGB, GoldBod’s oversight of gold buying, assaying, selling, and export activities has curbed widespread smuggling, improved sector governance, and ensured that more of Ghana’s gold earnings remain within the formal economy.
The Chamber highlighted that GoldBod’s efforts are not only reshaping the mining landscape but also strengthening Ghana’s broader macroeconomic stability.
The Chamber noted that the Bank of Ghana has also benefited directly from these reforms, with GoldBod’s activities helping to increase the nation’s tangible gold reserves, a key factor in improving financial resilience and supporting the government’s gold-for-reserves and gold-for-oil initiatives.
Call for Deeper Investment in Sustainable ASM
While commending GoldBod’s achievements, the CLGB called for continued investment in the ASM sector to sustain the momentum.
It urged the government and private stakeholders to expand access to finance, modern technology, and skills training for small-scale miners, ensuring that operations remain productive, environmentally responsible, and safe.
“The success achieved so far should serve as a springboard for deeper reforms and sustainable sector growth.”
Kwaku Amoah, Chief Executive Officer of the Chamber of Licensed Gold Buyers.
The Chamber also emphasised the importance of digital traceability systems, which are being rolled out by GoldBod to track gold through every stage of production and trade.
According to the CLGB, this innovation will further boost transparency, reduce illegal trade, and enhance the credibility of Ghana’s gold in global markets.
“Gold traceability and digital certification will mark a new era of accountability in Ghana’s gold sector.
“These systems will not only improve confidence among buyers but also protect the integrity of our national resources.”
Kwaku Amoah, Chief Executive Officer of the Chamber of Licensed Gold Buyers
Partnership for Inclusive Sector Reform
The CLGB reiterated its readiness to collaborate with GoldBod, the Ministry of Lands and Natural Resources, and other stakeholders to deepen reforms in the ASM sector. It pledged to work with the Board to promote compliance, financial inclusion, and responsible sourcing practices among its members.
“CLGB remains committed to working closely with GoldBod and other stakeholders to ensure Ghana’s gold industry delivers maximum benefit to its people.”
Kwaku Amoah, Chief Executive Officer of the Chamber of Licensed Gold Buyers
The Chamber also commended the government for enacting the GoldBod Act, which has brought coherence to the regulatory framework for small-scale mining, licensing, and gold exports.
It called the legislation a “milestone in mineral governance,” noting that it has created a single transparent authority responsible for overseeing Ghana’s gold trade.
GoldBod’s impact has been felt across multiple fronts, from increasing export revenues and stabilising the local currency to promoting formalisation and combating smuggling.
Analysts say these reforms are helping reposition Ghana as Africa’s most transparent and investor-friendly gold market.
With the Chamber’s endorsement, GoldBod’s success story underscores the transformative potential of good governance in Ghana’s resource sector.
