By Magdalene Andoh
The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has announced a significant reduction in gold smuggling activities in Ghana, crediting the achievement to strategic reforms implemented under the restructured institution.
Speaking in an interview on Joy News’ PM Express, Mr. Gyamfi revealed that although smuggling has not been completely eliminated, there has been a noticeable decline.
“We’ve reduced smuggling considerably. I won’t give any figures, but I think it’s come down significantly. We’ve not eliminated it; you can’t eliminate crime. It’s still there,” he stated.
GoldBod, which evolved from the former Precious Minerals Marketing Company (PMMC), has introduced a combination of competitive pricing, transparent systems, and stricter enforcement mechanisms to curb illicit gold trade.
According to the CEO, these reforms have not only reduced smuggling but also boosted gold inflows through official channels, particularly within the artisanal and small-scale mining (ASM) sector.
He disclosed that ASM gold production rose sharply to 104 metric tons in 2025, compared to approximately 63 metric tons in 2024. Of that, about 45 metric tons were attributed to the central bank, marking a significant improvement in formal sector participation.
Looking ahead, Mr. Gyamfi noted that GoldBod is targeting even higher production under the government’s National Reserve Accumulation Programme, with a projected output exceeding 120 metric tons this year.
The CEO further highlighted that ongoing enforcement efforts have led to the arrest of several individuals, including foreign nationals, involved in gold smuggling. He emphasized that offenders are prosecuted in accordance with Ghanaian law, with some facing repatriation.
GoldBod maintains that its integrated approach—combining market incentives with strict regulatory oversight, will continue to strengthen Ghana’s gold sector while minimizing illegal activities.
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Source:
www.gbcghanaonline.com
