The Chief Executive Officer of the Ghana Gold Board (GoldBod), Mr. Sammy Gyamfi, says preliminary measures put in place by the board have already began to pay off.
Sammy Gyamfi said the measures that have been implemented by GoldBod so far have led to record-high gold exports, both in volume and value, in 2025.
Speaking at the Mining and Minerals Convention at the Kempinski Gold Coast hotel on 9th September 2025, he first listed some measures but in place by GoldBod since its inception.
They were:
- Initiating aggressive licensing reforms to promote responsible sourcing of gold and other precious minerals;
- Strengthening regulatory controls and oversight over the gold supply chain;
- Introducing a transparent and competitive pricing system for licensed miners and licensed gold buyers;
- Deploying robust aggregation systems to effectively mop up gold from all mining regions and districts of the country;
- Removing major incentives for gold smuggling such as the scrapping of the 1.5% withholding tax on unprocessed small-scale gold, and
- Intensifying the fight against illegal gold trading and smuggling through the establishment of the GoldBod Task-Force, with reward for whistleblowers.
Mr. Gyamfi said as a result of these, small-scale gold exports facilitated by GoldBod together with the Bank of Ghana have hit a high of 66.7 tonnes with export value of $6 billion.
He explained, “The volume and value of small-scale gold exports from January to August 2025 alone, have exceeded the total small-scale gold export outturn for the whole of 2024, which stood at 63 tonnes with a value of about $4.6 billion.”
Sammy Fyamfi also noted that small-scale gold exports surpass those from large-scale mining, which stood at 65.1 tonnes with export value $5.6 billion last year.
“These much-needed forex inflows have significantly strengthened Ghana’s reserves, improved our balance of payments and provided critical support to the Ghana Cedi,” he stated.
Mr. Gyamfi emphasized that these early successes underline the strategic role of the Ghana Gold Board to Ghana’s long-term development and prosperity.
“As was publicly stated by President Mahama few months ago, ‘the Ghana Gold Board is still in the preparatory stages of fully deploying its operational mandate, and significant untapped potential remains’,” he quoted.
