Ghana’s gold industry is preparing for a major technological shift as the Ghana Gold Board moves toward launching a blockchain-based Track and Trace system by the end of 2026. The initiative is intended to guarantee full traceability for all gold purchased and exported from the country, signaling a critical step toward modernizing oversight and restoring integrity within the sector.
The announcement was delivered by Chief Executive Officer Sammy Gyamfi during the 2025 Dubai Precious Metals Conference at Atlantis Palm Jumeirah. He outlined extensive reforms designed to clean up the artisanal and small-scale mining (ASM) segment and remove illegal activity from the supply chain. Although the Gold Board has been operational for only seven months, Gyamfi emphasized that deployment efforts for the blockchain system are accelerating, with a goal of confirming the legitimate and sustainable origin of every gram of gold processed.
Compliance Enforcement and Stronger Oversight
Gyamfi explained that the Track and Trace framework would include comprehensive compliance audits to ensure licensed mines are not being used as fronts for illegal operators. He pointed out that such verification measures are essential for protecting the integrity of Ghana’s gold production pipeline.
The initiative is part of a larger campaign to counter gold smuggling, enforce regulatory standards, and reinforce Anti-Money Laundering and Counter-Terrorism Financing protocols across the industry. Gyamfi stressed that the project goes beyond policy preference and is instead mandated under the Ghana Gold Board Act, which requires strict monitoring of gold production, sales, and exports.
Originally, Gyamfi had indicated in October 2025 that the rollout would begin in early 2026. However, during his remarks in Dubai, he extended the timeline to late 2026, pointing to the need for a thorough procurement and implementation process. The requirement for the tracking system is established within Section 31X of Act 1140, which was approved by Parliament earlier in the year.
ASM’s Economic Role and Environmental Risks
Gyamfi noted that artisanal and small-scale mining has played a central role in Ghana’s economic rebound in 2025. The sector contributed roughly 90 tonnes of gold—accounting for about 53 percent of the country’s total gold exports—and generated more than $9 billion in foreign exchange earnings. Employment numbers also surpassed one million workers.
Despite these positive contributions, Gyamfi warned that illegal and unregulated mining continues to damage rivers, forests, and community health. To address these issues, the Gold Board has expanded enforcement operations, including the formation of a specialized task force that has already detained several illegal traders now facing prosecution.
The board is also investing in an ISO-certified assay laboratory aimed at modernizing gold testing procedures and improving accuracy throughout the ASM value chain.
Call for Global Cooperation on Smuggling Prevention
Gyamfi described gold smuggling as a major contributor to money laundering and illicit financing networks. He appealed to the international community to support the creation of a global certification framework similar to the Kimberley Process used in the diamond industry. He encouraged institutions such as the Dubai Multi Commodities Centre, the OECD, the London Bullion Market Association, the World Gold Council, and governments worldwide to support efforts by developing countries to formalize and regulate ASM operations.
He added that Ghana’s strengthened ASM sector had delivered significant economic gains, including appreciation of the cedi, a sizable trade surplus, easing inflation, and reductions in debt servicing. Between January and mid-October 2025, the Gold Board and the Precious Minerals Marketing Company generated more than $8 billion from small-scale gold exports, marking a sharp increase from 2024’s total.
Reforms Anchored in Responsible Mining
President John Dramani Mahama reiterated earlier in the year that Ghana is committed to promoting responsible and sustainable mining practices. During the Mining in Motion Summit, he highlighted the incoming Track and Trace system as a tool for ensuring ethical and transparent gold sourcing.
Since its creation in early 2025 under Act 1140, the Ghana Gold Board has launched extensive reforms. These include gaining exclusive authority over assay, grading, valuation, purchasing, and export of ASM gold; establishing a transparent pricing model; tightening regulations to curb smuggling; and deploying a national aggregation structure for gold collection.
Gyamfi concluded that Ghana’s ambition is not merely to expand gold output but to secure a mining environment that is ethical, sustainable, and protective of natural resources. The blockchain-based tracking solution is expected to position the country as a leader in transparent mineral governance and set a new global benchmark for responsible gold production.
