The Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, has disclosed that government measures have significantly reduced gold smuggling in Ghana, though he acknowledged that the illicit trade has not been entirely eliminated.
In an interview with Joy News, Mr. Gyamfi credited the progress to a multi-pronged strategy introduced following the transformation of the Precious Minerals Marketing Company (PMMC) into GoldBod. The reforms include competitive and transparent pricing, enhanced market incentives, and strengthened enforcement measures.
“These combined measures are producing results,” Mr. Gyamfi said, noting that while exact figures are difficult to determine, smuggling has “come down significantly.”
He highlighted a surge in gold production from the artisanal and small-scale mining (ASM) sector as a key indicator of success. ASM output rose to 104 metric tons in 2025, compared to roughly 63 metric tons in 2024, with only 45 metric tons sold through the central bank. “ASM alone is 104 metric tons, which is unprecedented,” he stressed.
Looking ahead, GoldBod has set ambitious targets under the government’s National Reserve Accumulation Programme, aiming to surpass 120 metric tons of gold output in 2026.
The CEO also emphasized ongoing enforcement efforts, including arrests and prosecutions of individuals, including foreign nationals, involved in illegal gold trading. Some offenders have been repatriated.
While acknowledging that gold smuggling cannot be completely eradicated, Mr. Gyamfi expressed confidence that current interventions are strengthening regulatory oversight and protecting Ghana’s gold resources.
“This trajectory signals meaningful progress in safeguarding our resources and promoting a transparent, accountable gold market,” he concluded.
