Sammy Gyamfi Warns Nation Wreckers: I Don’t Care Whose Ox Is Gored! … Gold Smugglers Will Be Dealt With Decisively

Ghana Gold Board Cracks Down on Gold Smuggling

The Ghana Gold Board (GoldBod) is launching a crackdown on gold smuggling. This initiative is in collaboration with the National Security Secretariat. Sammy Gyamfi, the CEO of GoldBod, announced this at the Mining in Motion Summit in Accra.

During his speech, Gyamfi declared that illegal gold trading is "officially over." He stated that a standing anti-gold smuggling taskforce will be launched soon. This taskforce aims to enforce laws against illegal activities, regardless of who is involved.

Gyamfi emphasized that this effort is crucial for protecting Ghana's gold value chain. It will help ensure the country benefits economically from its mineral wealth. Despite being Africa’s largest gold producer, Ghana faces challenges with unregulated artisanal small-scale mining (ASM).

This lack of regulation has led to smuggling and environmental damage. Gyamfi noted that President John Dramani Mahama established GoldBod to reform the sector. GoldBod now oversees buying, assaying, refining, and exporting gold from ASM.

Since taking over from the Precious Minerals Marketing Company (PMMC), GoldBod has made significant reforms. From February to May 2025, it purchased and exported over GH¢40 billion ($4 billion) in gold from ASM. This achievement surpassed large-scale exporters for the first time in history.

In May alone, GoldBod exported 11 tonnes of gold worth over $1.1 billion USD. Gyamfi highlighted that this output is transforming Ghana's economic situation.

Building a Sustainable Supply Chain

To enhance traceability in the global gold market, GoldBod plans to launch a digital supply chain system by late 2025. This technology will track every gram of gold from mine to market. It ensures all gold comes from legal and sustainable sources.

Starting September 2025, GoldBod will train artisanal miners in eco-friendly practices. This initiative aims to boost productivity while reducing environmental harm.

GoldBod is also revamping its licensing process for aggregation and refining licenses. All licensees must meet strict responsible sourcing standards aligned with anti-money laundering protocols.

Invitation to Global Partners

Gyamfi invited international investors to engage with Ghana’s formalizing gold sector. He warned foreign entities against buying directly on the local market but encouraged partnerships with licensed aggregators or export licenses.

GoldBod aims to add value by moving away from exporting semi-pure dore to refined bullion. Plans are underway for an ISO-certified assay laboratory by 2026 to enhance credibility and returns on exports.

Investing in Communities

As part of its corporate social responsibility goals, GoldBod will reinvest some profits into community projects. These include land reclamation and sustainability programs like Blue Water and Tree for Life.

Resources will also support education, healthcare, and clean water initiatives in mining communities affected by illegal operations for years.

Gyamfi concluded by stating they would not rest until all smugglers face justice. He affirmed that operating outside the law is no longer acceptable.

He left his audience with an inspiring message: “Ghana is ready. GoldBod is prepared.” Together they can uplift communities while protecting the environment through their natural wealth.