In a major policy shift aimed at cleaning up the country’s gold sector, the Ghana Gold Board is set to introduce a national gold traceability system by 2026. The move is expected to formalize small-scale mining operations and clamp down on illegal gold trade that has plagued the industry for decades.
The Chief Executive Officer of the Ghana Gold Board (GoldBod), Mr. Sammy Gyamfi, described the upcoming system as a historic departure from the status quo, where the bulk of gold produced by small-scale miners is undocumented and difficult to trace.
“We’ve been mining gold since the colonial era, yet to this day, Ghana has no system to identify the source of gold exports or link them to specific mines,” Mr. Gyamfi noted. “This is a legacy problem we are determined to fix.”
Fixing a Long-standing Problem
The absence of a gold traceability framework has significantly undermined Ghana’s gold export credibility, especially in the small-scale sector. While large-scale mining companies usually comply with global sourcing standards, informal small-scale mining has remained opaque, vulnerable to smuggling, money laundering, and environmental damage.
Mr. Gyamfi stressed that traceability will not only boost government oversight but also enable Ghana to secure fairer value for its gold. The system will help prevent gold of suspicious origin from entering the formal supply chain and make Ghana’s gold eligible for premium prices on major global markets such as the London Bullion Market (LBM).
“When gold is traceable, you can sell it at the LBM refineries and get the LBM export price because you meet the required standards,” he explained. “But if the source of the gold cannot be verified, it becomes a very controversial issue.”
Digital Licensing Reform Already in Motion
As part of broader efforts to reform the gold sector, Mr. Gyamfi revealed that a new digital licensing system is already operational.
The platform—first introduced under President John Dramani Mahama’s administration—allows miners to apply for, pay for, and track their licenses entirely online. This approach eliminates human interference during processing, reducing opportunities for corruption.
“That’s why, when the NDC returned to power, it established the GoldBod and cancelled all previous licenses, replacing them with a new digital licensing process,” Mr. Gyamfi explained. “The only physical interaction is when applicants come to collect their license.”
So far, 615 licenses have been approved, with 319 printed and issued. The breakdown includes:
Aggregator licenses – 1
Self-financing aggregators – 4
Tier 2 sub-aggregators – 263 approved, 192 issued
Tier 1 buyers – 348 approved, 123 issued
Legal Backing and Next Steps
A new law supporting gold traceability was passed on April 2, 2025. However, Mr. Gyamfi cautioned that full implementation will require time, technology procurement, and stakeholder onboarding.
“It’s not something we can do in three or four months,” he said. “But by 2026, Ghana will have its own robust traceability system. Every registered miner will be part of it.”
Once fully operational, the system will become a key regulatory tool. Gold that cannot be linked to a traceable source may face disqualification from export or attract financial penalties.
The initiative is expected to tighten controls, improve government revenue collection, and position Ghana’s gold exports as more competitive and attractive to responsible global buyers.
