GoldBod Set to Reform Ghana’s Gold Sector – Sammy Gyamfi
CEO Sammy Gyamfi says the newly established GoldBod will unify regulation, curb smuggling, and ensure Ghana retains vital export revenues.
- GoldBod will centralize and regulate Ghana’s gold trade to eliminate smuggling and chaos
- All gold sector players must now operate under a unified licensing and compliance system
- The reform aims to boost foreign exchange earnings and support national development
Sammy Gyamfi, CEO of the newly formed Ghana Gold Board (GoldBod), has announced bold plans to bring structure, transparency, and accountability to Ghana’s gold trade, an industry long plagued by disorder and smuggling.
Speaking at the Mining in Motion Summit, Gyamfi said broad consultations with stakeholders revealed a strong consensus: the gold sector desperately needed a unified regulatory body. “Every patriotic Ghanaian and civil society group we engaged viewed GoldBod as not just necessary, but urgent to clean up the mess,” he emphasized.
Previously, various state agencies operated in silos when it came to gold purchases, creating a fragmented system with major oversight gaps that enabled illegal trade. Gyamfi said GoldBod will change that by becoming the single authority responsible for overseeing and licensing all actors in the gold value chain.
“This is about creating one streamlined system where all traders follow the same rules—whether it’s about legal exports, responsible sourcing, or revenue reporting,” he noted.
He underscored that this centralised approach will not only tackle irregularities but also help Ghana capture vital foreign exchange from its gold exports—essential funds for the country’s economic development.
GoldBod was created through the GoldBod Act, 2025 (Act 1140), and is a cornerstone of the government’s broader strategy to revitalize the economy, stop illicit gold flows, and strengthen Ghana’s foreign reserves.
