Sammy Gyamfi says Ghana’s gold trading reforms are delivering unprecedented results, with record volumes and foreign exchange inflows driven by the Gold Board.
Speaking on PM Express Business Edition with George Wiafe, the Gold Board CEO pointed to a sharp decline in smuggling, though not its complete elimination.
“2%, I think, is low. I think 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 said.
He explained that the gains result from a mix of policy and enforcement measures.
“But we are deploying multiple measures; competitive and transparent pricing coupled with market incentives and also enforcement, and the combination of these measures is what is giving us the results we are getting,” he added.
Sammy Gyamfi then revealed what he described as a historic milestone in Ghana’s gold sector.
“We got 104 metric tons of ASM gold in 2025; before that, in 2024, we got just about 63 tons. What is attributable to the central bank is just 45 tons,” he said.
The jump in artisanal and small-scale gold output marks a significant shift in the country’s gold aggregation efforts.
“So, ASM alone is 104 metric tons, which is unprecedented,” he stressed.
The surge in volumes, combined with favourable global prices, has translated into massive foreign exchange inflows.
“FX, thanks to the price and also the increase in the volumes, we got over $10 billion,” Gyamfi disclosed.
He indicated that the Gold Board is aiming even higher under its forward strategy.
“This year, we are projecting under the National Reserve Accumulation Program; we are hoping to even hit a target of over 120 metric tons. And so far so good. So basically, that is a plan,” he said.
Despite the progress, Sammy Gyamfi maintained that the fight against illegal trade continues, but with measurable improvements already achieved.
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Source: www.myjoyonline.com
