Ghana’s gold industry is set for a historic transformation as the Ghana Gold Board prepares to introduce a blockchain powered Track and Trace system by the end of 2026 to ensure full traceability of all gold purchased and exported from the country.
The announcement was made by Chief Executive Officer Sammy Gyamfi during the 2025 Dubai Precious Metals Conference on November 24, 2025, at the Atlantis Palm Jumeirah Hotel, where he outlined sweeping reforms aimed at cleaning up the artisanal and small scale mining (ASM) sector and eliminating illegal mining from the gold supply chain.
Despite being only seven months into operation, the Gold Board is aggressively advancing plans to deploy the Track and Trace system, which will verify the legitimate and sustainable origin of every gram of gold processed. Gyamfi explained that the system will include compliance audits to ensure that licensed mines do not act as fronts for illegal operations, stating this is crucial to maintaining integrity across the supply chain.
Gyamfi said the initiative is part of a broader effort to curb gold smuggling, strengthen regulatory oversight and promote Anti-Money Laundering and Counter-Terrorism Financing measures in Ghana’s gold sector. The CEO said the initiative is not just a policy directive but a legal requirement under the Ghana Gold Board Act, which demands rigorous oversight of gold production, sales and exports.
In October 2025, Gyamfi had initially announced on TV3’s Key Points programme that the track and trace system would begin in the first quarter of 2026. However, at the Dubai conference, he extended the timeline to the end of 2026, citing the need for comprehensive procurement and deployment processes. The requirement is enshrined in Section 31X of the Gold Board Act (Act 1140), which was passed by Parliament in 2025.
Addressing the conference, Gyamfi highlighted that artisanal and small scale mining has become a major driver of Ghana’s economic recovery in 2025, contributing 90 tonnes of gold, about 53 percent of the country’s total gold exports, and generating over $9 billion in foreign exchange. He noted that the sector now supports over one million jobs, but warned that illegal and unregulated mining continues to threaten rivers, forests and public health.
Gyamfi revealed that the Gold Board has already stepped up enforcement activities, including a dedicated task force that has arrested several illegal traders who are now before the courts. The board is also investing in an International Organization for Standardization (ISO) certified assay laboratory to modernize gold testing and improve accuracy within the ASM value chain.
Describing gold smuggling as a major driver of money laundering and illicit financing, Gyamfi urged the international community to support the creation of a global certification regime, similar to the Kimberley Process for diamonds, to prevent smuggled gold from entering legitimate markets. The CEO urged the Dubai Multi Commodities Centre (DMCC), Organisation for Economic Co-operation and Development (OECD), London Bullion Market Association (LBMA), the World Gold Council and governments worldwide to rally behind developing countries striving to formalize ASM.
Gyamfi noted that ASM’s gains had significantly boosted Ghana’s economic indicators, including a 35 percent appreciation of the cedi this year, a $2.1 billion trade surplus, reduced inflation and a decline in government debt servicing costs. The Gold Board and the Precious Minerals Marketing Company generated over $8 billion from small scale gold exports between January and October 15, 2025, representing a 75 percent increase over the entire 2024 total of $4.61 billion.
President John Dramani Mahama in June this year reaffirmed the Ghana Gold Board’s strong commitment to promoting responsible and sustainable mining in Ghana. Speaking at the Mining in Motion Summit, President Mahama announced that the board would soon introduce a track and trace system to ensure the ethical and transparent sourcing of gold.
Since its establishment in early 2025 under Act 1140, the Ghana Gold Board has introduced sweeping reforms, including exclusive authority to assay, grade, value, purchase and export ASM gold; a new transparent pricing model for miners and licensed buyers; a strengthened regulatory framework to curb smuggling; and deployment of a national aggregation system for gold collection.
Gyamfi concluded that Ghana’s goal is not just to increase gold production but to ensure a sustainable, ethical and environmentally responsible mining sector. “Responsible mining is essential for protecting natural resources, securing livelihoods and safeguarding the future for generations to come,” he said. The blockchain tracking system is expected to position Ghana as a global leader in transparent mineral governance and set a new standard for responsible gold production worldwide.
The Gold Board was established following President Mahama’s campaign promise to create the institution as part of broader reforms to Ghana’s mining sector. The board became operational in February 2025, with Sammy Gyamfi, a lawyer and former National Communications Officer of the National Democratic Congress, appointed as its inaugural CEO.
