Ghana’s Gold Board is cracking down hard on illegal gold trading.
The Chief Executive Officer, Sammy Gyamfi, has issued a strong warning: anyone buying gold outside approved channels risks prosecution.
Speaking on Joy News’ PM Express Business Edition, Gyamfi made it clear that the authorities are tightening control over the entire gold sector to promote responsible sourcing and proper traceability. He explained that the trade has now been formalised.
Only buyers who hold a valid license from the Gold Board are allowed to operate. Once licensed, they fall under strict regulation.“Every license comes with terms and conditions,” he said.
“You are only permitted to buy gold from licensed miners.”Gyamfi pointed to Section 50(9C) of the Gold Board Act, which states that breaching any condition of your license is a criminal offence. This serves as a strong deterrent.“
If you are caught buying gold from unlicensed sources or minors while using a Gold Board license, we can prosecute you,” he warned directly.Beyond licensing, the Board is rolling out systems to monitor every gram of gold that enters the official supply chain.
The goal is to ensure that gold does not just come from licensed miners, but from responsible and properly regulated mines.
Gyamfi also spoke about ongoing reforms in the small-scale mining sector, often called galamsey when done illegally. The Board is working closely with the Ministry of Lands and Natural Resources to formalise many artisanal miners into cooperatives and bring them into the licensed small-scale mining system.
A formalisation programme is currently being finalised, and it will soon be announced with involvement from the President. In addition, a traceability solution is already in development to track gold from mine to market.
These measures aim to clean up the gold industry, reduce illegal mining, and ensure that Ghana’s gold trade meets international standards for responsibility and transparency.
The Gold Board’s push comes as the country continues to battle the environmental and social problems caused by unregulated mining.
By enforcing licenses and traceability, authorities hope to bring more discipline and accountability into a sector that has long operated with significant loopholes. For legitimate gold dealers and miners, the message is straightforward: stick to the rules, or face the full force of the law.