Aggressive Reforms and Extended Timeline
Ghana is preparing for an overhaul of its gold sector with the introduction of a blockchain-powered track and trace system by the end of 2026. The system is designed to ensure the full traceability and certified origin of all gold purchased and exported from the country.
The announcement was reportedly made by Sammy Gyamfi, chief executive officer of the Ghana Gold Board, during the 2025 Dubai Precious Metals Conference on Nov. 24. The initiative is part of sweeping reforms intended to clean up the artisanal and small-scale mining (ASM) sector and eliminate illegal mining from the gold supply chain.
Despite being operational for only seven months, the Gold Board is moving to deploy the Track and Trace system. Gyamfi explained that the system will verify the legitimate and sustainable origin of every gram of processed gold and will include compliance audits to prevent licensed mines from being used as fronts for illegal operations.
Gyamfi stated the initiative is crucial for curbing gold smuggling, strengthening regulatory oversight, and promoting anti-money laundering (AML) and counter-terrorism financing (CTF) measures. According to a report, deployment of the blockchain-based system is not merely a policy goal but a legal requirement enshrined in Section 31X of the Gold Board Act (Act 1140).
Gyamfi revised the initial target date for the system’s launch—previously announced for the first quarter of 2026—extending the timeline to the end of 2026 to allow for comprehensive procurement and deployment processes.
The CEO, meanwhile, is quoted in a local report highlighting the pivotal role of ASM in Ghana’s 2025 economic recovery. The sector contributed 90 tonnes of gold, representing about 53% of the country’s total gold exports, and generated over $9 billion in foreign exchange. The ASM sector now supports over one million jobs.
However, Gyamfi warned that unregulated and illegal mining continues to pose a significant threat to Ghana’s rivers, forests, and public health. To address this, the Gold Board has stepped up enforcement, launching a dedicated task force that has arrested and is prosecuting several illegal traders. The Board is also investing in an International Organization for Standardization (ISO) certified assay laboratory to modernize gold testing within the ASM value chain.
Call for a Global Certification Regime
Describing gold smuggling as a major driver of money laundering, 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.
He called on key international bodies, including the Dubai Multi Commodities Centre (DMCC), the OECD, the London Bullion Market Association (LBMA), and the World Gold Council, to back developing countries in their efforts to formalize the ASM sector.
The Gold Board’s reforms, established under President John Dramani Mahama’s pledge for responsible mining, have already boosted Ghana’s economy, contributing to a 35 percent appreciation of the cedi this year and a $2.1 billion trade surplus. The Gold Board and the Precious Minerals Marketing Company generated over $8 billion from small-scale gold exports between January and October 15, 2025—a 75 percent increase over the total for all of 2024.
FAQ 💡
- What is Ghana’s new gold initiative? A blockchain-powered Track and Trace system to certify all gold exports by 2026.
- Why was the launch timeline extended? The rollout was moved to end-2026 to allow full procurement and deployment.
- How vital is ASM to Ghana’s economy? Artisanal mining produced 90 tonnes in 2025, earning $9B and supporting 1M jobs.
- What global support does Ghana seek? A certification regime like the Kimberley Process to stop smuggled gold entering markets.
