Ghana is calling on the international community to create a multilateral certification system for gold, akin to the United Nations-supported Kimberley Process for diamonds, in order to prevent smuggled gold from infiltrating the global supply chain.
This proposal was put forth by Sammy Gyamfi, the Chief Executive Officer of the Ghana Gold Board (GoldBod), during the 2025 Dubai Precious Metals Conference held in Dubai.
Mr Gyamfi indicated that the lack of a cohesive international certification framework has allowed illicit gold to traverse borders unchecked, contributing to money laundering, terrorist financing, and various other criminal activities.
He emphasized the urgent need for a global mechanism to safeguard both producing and importing nations from the escalating threats linked to illegal gold trading.
He stated that a certification system would promote transparency, enhance accountability, and restore integrity within the global gold industry.
“Just as the Kimberley Process has been effective in reducing conflict diamonds, a comparable scheme for gold will stop smuggled metal from entering legitimate supply chains,” he remarked.
He further mentioned that Ghana is prepared to collaborate with the United Arab Emirates, the Dubai Multi Commodities Centre (DMCC), the World Gold Council, the London Bullion Market Association (LBMA), and governments around the world to further this initiative.
“We are optimistic that these measures will strengthen global Anti-Money Laundering and Counter Terrorism Financing efforts,” he added.
This appeal arises amidst worries that inconsistencies between gold export records in Ghana and import records in other nations indicate significant smuggling activities. Mr Gyamfi cautioned that this situation has empowered criminal networks and weakened good governance in numerous gold-producing countries.
In his address, he underscored Ghana’s recent initiatives aimed at enhancing regulation within its artisanal and small-scale mining (ASM) sector. These initiatives include more stringent licensing, heightened enforcement measures, and the forthcoming implementation of a blockchain-based Track and Trace system by 2026, which will authenticate the source of all ASM gold.
Mr Gyamfi stressed the importance of global collaboration in addressing the vulnerabilities that smugglers exploit. He urged industry leaders and international organisations to assist developing nations that are striving to reform their ASM sectors and protect the integrity of the global gold supply chain.
