Ghana Gold Board Unveils Transformative Initiatives for Gold Industry

Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has outlined sweeping reforms and initiatives aimed at maximizing national benefits from Ghana’s mineral wealth and positioning the country as a continental hub for gold production and value addition.

Speaking at the maiden Mining and Minerals Convention in Accra on September 9, 2025, Mr. Gyamfi said Africa’s resource-rich nations, including Ghana, must move beyond raw extraction to value retention if they are to overcome poverty and underdevelopment.

He highlighted the progress made since the establishment of GoldBod under President John Mahama, noting that aggressive licensing reforms, stronger regulatory controls, transparent pricing systems, and anti-smuggling measures have already boosted gold exports.

Between January and August 2025 alone, Ghana recorded 66.7 tonnes of small-scale gold exports valued at about US$6 billion, surpassing the total export outturn for the whole of 2024.

Mr. Gyamfi outlined a series of initiatives to transform Ghana’s mining sector. By the end of the year, a nationwide gold traceability system will be rolled out to ensure all gold originates from licensed and environmentally compliant mines.

To strengthen enforcement, vehicles and GHS 5 million will be provided to anti-illegal mining operations, while funding has been secured to begin reclaiming 1,000 hectares of degraded forest reserves in November.

He also announced a new Mining Support Program aimed at attracting up to US$1 billion in investment for more than 300 responsible mines.

Additional plans include establishing a state-owned gold refinery at Kotoka International Airport with a modern assay laboratory, as well as developing a “Gold Village” to position Ghana as a continental hub for jewellery and ornaments.

He urged local financial institutions to back mining investments, calling for bold financing structures to support the sector. “Africa is ready to transform. Ghana is resetting, and Africa is rising,” he declared.

Mr. Gyamfi concluded by stressing that the minerals sector must do more than extraction: “We must shift from raw exports to beneficiation, from youth as labourers to youth as innovators, financiers, and owners.”