The Ghana Gold Board (GoldBod) is set to implement a blockchain-based Track and Trace system by the conclusion of 2026, ensuring that every gram of gold acquired can be traced back to its legitimate and sustainable source.
This significant reform was revealed by the Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, during his speech at the 2025 Dubai Precious Metals Conference, which took place at the Atlantis Palm Jumeirah Hotel in Dubai.
Mr. Gyamfi stated that the new system will bolster Ghana’s initiatives to formalize the artisanal and small-scale mining (ASM) sector and combat illegal mining. Although GoldBod was established only seven months ago, it is already making strides towards implementing the technology that will authenticate the origin of all gold purchased and exported.
As part of the Track and Trace system, all licensed mines that are onboarded will be subject to regular compliance audits to ensure they do not serve as fronts for illegal mining activities. This initiative seeks to improve transparency, encourage responsible sourcing, and align Ghana’s gold supply chain with global best practices.
Mr. Gyamfi stressed that responsible sourcing is not just an ethical duty but also a legal obligation under the Ghana Gold Board Act, which requires stringent oversight of gold production, sales, and exports. He pointed out that the implementation of this system is part of broader reforms aimed at eradicating gold smuggling, enhancing regulatory controls, and fostering sustainability within the sector.
He warned that gold smuggling continues to pose a significant global threat, contributing to money laundering, illicit financing, and criminal networks. Ghana, he mentioned, is advocating for an international certification framework akin to the Kimberley Process for diamonds to prevent smuggled gold from infiltrating the global supply chain.
The CEO of GoldBod stated that the organization has already strengthened its enforcement measures, which include a dedicated task force that has apprehended several illegal traders who are now undergoing prosecution.
Furthermore, GoldBod is making investments in technological advancements, such as an ISO-certified assay laboratory, to enhance testing methodologies within the ASM ecosystem.
Mr. Gyamfi urged international organizations, including the DMCC, OECD, LBMA, and World Gold Council, to assist Ghana and other developing nations in executing sustainable and technologically progressive reforms in the ASM sector.
He concluded by highlighting the importance of balancing gold production with environmental conservation, emphasizing that responsible mining is crucial for protecting livelihoods, conserving natural resources, and ensuring a sustainable future for upcoming generations.
