Ghana’s Gold Board (GoldBod) is preparing to introduce a blockchain-based tracking system to improve gold traceability, strengthen responsible sourcing, and combat illegal trading and smuggling, as the country seeks to reinforce oversight of its gold supply chain.
GoldBod Chief Executive Officer Sammy Gyamfi said a national competitive tendering process for the proposed system was underway and was expected to conclude before the end of 2026. The procurement marks a step toward establishing a more transparent and verifiable framework for tracking gold from its lawful origin through aggregation, trading, and export.
The proposed blockchain system is intended to create a verifiable record of gold throughout the supply chain, helping authorities establish its legitimate origin and assess whether production, trading, and exports comply with applicable laws and responsible sourcing standards.
Gold traceability becomes a priority
Speaking at the African Minerals Policy Forum – Mining in Motion 2026, Gyamfi emphasized the importance of traceability in preserving the gains achieved through reforms in Ghana’s gold trade.
He indicated that improvements in market regulation needed to be accompanied by stronger mechanisms for verifying the origin and handling of gold. Without reliable tracking, authorities could face difficulties distinguishing legally sourced gold from material associated with unauthorized mining and trading activities.
The proposed system is expected to provide greater visibility into the movement of gold across different stages of the supply chain. By establishing a documented history of each tracked batch, the technology could help improve accountability among participants involved in aggregation, trading, and exports.
Gyamfi also stressed that responsible sourcing had become an important obligation as GoldBod worked to strengthen the country’s gold trading framework. Ensuring that gold entering legitimate commercial channels originated from lawful and responsible operations would be essential to maintaining the credibility of the sector.
Alignment with international sourcing standards
The tracking initiative is also expected to support compliance with Ghanaian laws and guidelines developed by the Organisation for Economic Co-operation and Development (OECD).
Responsible mineral sourcing standards are designed to help businesses identify and address risks associated with minerals entering their supply chains. For gold, such risks can include illegal extraction, illicit trading, and other activities that undermine regulatory oversight.
A blockchain-based recordkeeping system could help consolidate information about gold movements and make relevant records easier to verify. Depending on its final design and implementation, the platform could support more consistent documentation and help regulators and supply chain participants assess whether transactions meet required standards.
However, the effectiveness of the system will depend on the quality of the information entered, the reliability of verification procedures, and the extent to which businesses and other stakeholders adopt the framework. Blockchain can preserve recorded information, but it cannot independently guarantee that the original data is accurate or that gold was mined legally.
Tackling illegal mining and trading
Gyamfi said stronger traceability could improve accountability and make illegal and irresponsible mining less attractive over the medium term. A system capable of linking gold to its source could increase the difficulty of introducing unlawfully obtained material into legitimate trading channels.
The initiative forms part of a broader effort to strengthen governance across Ghana’s gold industry. By improving the ability to verify origin and track supply chain movements, GoldBod aims to reinforce compliance and discourage activities that threaten the integrity of the formal market.
If implemented effectively, the system could give regulators and legitimate market participants a stronger basis for identifying suspicious gold flows, improving supply chain transparency, and supporting responsible sourcing practices.
The tendering process is expected to conclude before the end of 2026, although the announcement did not specify a deployment date or provide details about the system’s technical architecture, participating companies, or implementation costs.
The procurement represents a planned investment in digital oversight, with its eventual impact likely to depend on enforcement, data verification, and cooperation across Ghana’s gold supply chain.
