Ghana Cracks Down on Smuggling

Ghana plans to overtake its gold sector with a blockchain-powered track-and-trace system by the tip of 2026, guaranteeing full traceability and authorized origin of all gold exports.

Aggressive reforms and prolonged timeline

Ghana is getting ready to overtake its gold sector with the introduction of a blockchain-powered track-and-trace system by the tip of 2026. The system is designed to make sure full traceability and authorized origin of all gold bought and exported from the nation.

The announcement was reportedly made by Sammy Gyamfi, CEO of the Ghana Gold Board, in the course of the Dubai Treasured Metals Convention 2025 on November 24. The initiative is a part of sweeping reforms aimed toward cleansing up the artisanal and small-scale mining (ASM) sector and eliminating unlawful mining from the gold provide chain.

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Regardless of solely being operational for seven months, the Gold Board is contemplating deploying the Observe and Hint system. Gyamfi defined that the system will confirm the official and sustainable origin of each gram of gold processed and embrace compliance audits to stop licensed mines from getting used as fronts for unlawful operations.

Gyamfi said that the initiative is essential in curbing gold smuggling, strengthening regulatory oversight and selling measures in opposition to cash laundering (AML) and the financing of terrorism (CTF). In keeping with a report, the deployment of the blockchain-based system isn’t just a coverage goal however a authorized requirement enshrined in Part 31X of the Gold Board Act (Act 1140).

Gyamfi revised the unique goal date for the system’s launch – beforehand introduced for the primary quarter of 2026 – and prolonged the timeline to the tip of 2026 to permit for in depth procurement and implementation processes.

The CEO, in the meantime, has been quoted in an area report highlighting ASM’s essential function in Ghana’s financial restoration by 2025. The sector contributed 90 tons of gold, representing about 53% of the nation’s complete gold exports, and generated over $9 billion in overseas trade. The ASM sector now helps a couple of million jobs.

Nonetheless, Gyamfi warned that unregulated and unlawful mining nonetheless poses a major menace to Ghana’s rivers, forests and public well being. To handle this, the Gold Board has stepped up enforcement by making a particular job drive that has arrested and prosecuted a number of unlawful traffickers. The board can be investing in an Worldwide Group for Standardization (ISO) licensed testing laboratory to modernize gold testing throughout the ASM worth chain.

Name for a worldwide certification regime

Describing gold smuggling as a serious driver of cash laundering, Gyamfi urged the worldwide neighborhood to assist the institution of a worldwide certification regime – much like the Kimberley Course of for diamonds – to stop smuggled gold from coming into official markets.

He known as on key worldwide our bodies, together with the Dubai Multi Commodities Middle (DMCC), the OECD, the London Bullion Market Affiliation (LBMA) and the World Gold Council, to assist growing nations of their efforts to formalize the ASM sector.

The Gold Board reforms, which got here underneath President John Dramani Mahama’s pledge for accountable mining, have already boosted Ghana’s financial system, contributing to a 35 % appreciation of the cedi this 12 months and a commerce surplus of $2.1 billion. The Gold Board and Treasured Minerals Advertising and marketing Firm generated greater than $8 billion from small-scale gold exports between January and October 15, 2025 – a 75 % enhance over the entire for all of 2024.

Regularly requested questions 💡

• What’s Ghana’s new gold initiative? A blockchain-powered Observe and Hint system to certify all gold exports by 2026.
• Why was the launch timeline prolonged? The rollout was moved to the tip of 2026 to permit for full procurement and deployment.
• How vital is ASM to the Ghanaian financial system? Artisanal mining produced 90 tons in 2025, earned $9 billion and supported 1 million jobs.
• What world assist is Ghana looking for? A certification regime just like the Kimberley Course of to stop smuggled gold from coming into the markets.