Ghana will soon acquire state-of-the-art traceability technology to track the sources of gold mined in the country. Mr. Sammy Gyamfi, CEO of the Ghana Gold Board, announced this development on Wednesday. This system aims to ensure that all gold purchased by the Board originates from legal and approved sources.
The Ghana Gold Board is currently undergoing a national competitive tendering process for this modern traceability system. This process will conclude this year. The technology will allow the Board to trace every ounce of gold it purchases back to its mine of origin. This initiative directly addresses concerns about illegal mining and gold smuggling.
This move fits into Ghana's broader efforts to formalize its gold sector and maximize national revenue. Ghana is currently Africa's leading gold producer and ranks sixth globally. The country produced approximately 185 tonnes of gold recently, a significant increase attributed to domestic production. The Gold Board's actions aim to sanitize the small-scale gold mining industry.
Mr. Gyamfi stated that since January 2025, the Board has mopped up some 170 metric tonnes of gold. He highlighted the Board's instrumental role in the country's gold production achievements. This demonstrates the Board's active involvement in managing Ghana's valuable gold resources.
The new technology will help combat gold smuggling, a persistent challenge for the Ghanaian economy. Illegal gold trade deprives the state of significant tax revenues and often funds illicit activities. A taskforce of more than 150 people has already been deployed across mining regions to fight smuggling.
Beyond tracking gold, the Ghana Gold Board is also committed to environmental protection. The Board plans to reclaim 150 hectares of degraded forests across the country by next year. This aligns with its corporate social responsibilities and the government's agenda to protect ecology and biodiversity. The Board collaborates with the Forestry Commission and the Engineers Regiment of the Ghana Armed Forces on these reclamation efforts.
The implementation of this traceability system is expected to boost investor confidence in Ghana's gold sector. It will provide greater transparency and assurance regarding the ethical sourcing of gold. This could attract more legitimate investment and improve Ghana's standing in the global gold market. Decision-makers will closely monitor the system's effectiveness in curbing illegal mining and increasing state revenue.