Ghana is set to introduce a national gold traceability system by 2026 in a landmark initiative to formalise small-scale mining and crack down on illegal gold trade.
The upcoming system would enable Ghana to track the origin and movement of gold across the supply chain, from mine to export.
Chief Executive Officer (CEO) of the Ghana Gold Board (GoldBod), Mr. Sammy Gyamfi, said the plan marks a historic shift from the status quo, where the vast majority of gold produced by small-scale miners is untraceable.
“We started mining gold since the colonial days, and yet, to date, we don’t have any traceability system so we can identify our gold when it is exported or from which mine a particular gold is coming from,” Mr. Gyamfi lamented. “This is a legacy problem we are determined to fix.”
Why traceability matters
The absence of a gold traceability framework has long undermined the credibility and revenue potential of Ghana’s gold exports, especially those originating from the small-scale sector. While large-scale mining companies often comply with international sourcing standards, Ghana’s informal mining ecosystem has remained opaque and vulnerable to smuggling, money laundering, and environmental abuse.
Mr. Gyamfi stressed that introducing traceability will not only enhance government oversight but also ensure that Ghana receives fair value for its gold resources.
He noted that it would help regulators block gold of suspicious origin from entering the formal market and enable Ghana to access premium prices from top-tier global buyers, such as the London Bullion Market (LBM).
“When the gold is traceable—you can go to the LBM refineries and get the LBM export price because you are qualified,” he explained.
“But if the source of the gold cannot be traced, what do we do with it? It’s a very controversial issue for now.”
Digital licensing overhaul already underway
As part of the broader reforms to sanitize the gold mining value chain, the Goldbod CEO revealed that a new digital licensing platform is already in place.
Introduced under the administration of President John Dramani Mahama, the online system removes physical human interaction from the licensing process—thereby improving transparency and reducing corruption.
“That is why when the NDC came, it established the GoldBod, and the Board renounced all previous licenses and introduced a new online licensing system,” Mr. Gyamfi said.
“Applicants can apply, pay, and track their license status without coming into contact with anyone at the Board. The only human contact is when you come physically to collect your license.”
615 licenses
To date, 615 licenses have been approved across different categories. Of these, 319 licenses have already been printed and issued. The breakdown includes aggregator license: 1, self-financing aggregators: 4, tier 2 (sub-aggregators): 263 approved, 192 issued and tier 1 buyers: 348 approved, 123 issued.
Implementation timeline and challenges
Although the legal foundation for traceability was laid with the passage of a new law on April 2, 2025, Mr. Gyamfi acknowledged that implementing the system nationwide will take time and careful planning.
“It’s not within three or four months that we can establish a robust traceability infrastructure,” he cautioned. “By 2026, we will have our own traceability system. We will procure the necessary technology and onboard all registered miners.”
He noted that the system will eventually become a key regulatory tool. Gold that cannot be linked to its origin may be disqualified from export or attract penalties.
This is expected to tighten controls, improve national revenue collection, and make Ghana’s gold exports more competitive and attractive to responsible buyers globally.
Boosting investor confidence and ending ‘galamsey’
Mr. Gyamfi emphasised that, beyond regulating the market, the traceability reform will be critical to fighting illegal small-scale mining, known locally as galamsey.
The system, he argued, will serve as a deterrent against illicit trade and help authorities differentiate between legal and illegal actors in the sector.
“This isn’t just about documentation,” he said. “It’s about ensuring that Ghana’s gold doesn’t come at the cost of environmental destruction, child labour, or stolen revenue. It is about creating a mining sector we can all be proud of.”
He called on the public, industry stakeholders, and political actors to rally behind the initiative, describing it as a long-overdue reform that is crucial to Ghana’s economic and environmental sustainability.
“Let us be patient. Let us support the process. We are laying a strong foundation that will serve the country for generations,” Mr. Gyamfi concluded.
