The Chief Executive Officer of the Ghana Gold Board (GoldBod), Mr. Sammy Gyamfi, has unveiled sweeping reforms and ambitious plans to reposition Ghana’s mining sector as a driver of economic transformation. He made the announcement at the maiden edition of the Mining and Minerals Convention, held Tuesday at the Kempinski Gold Coast Hotel in Accra.
In his address, Mr. Gyamfi emphasized that while Africa holds 30% of the world’s mineral reserves, the continent continues to grapple with poverty and underdevelopment due to the failure to fully leverage its resources. He noted that Ghana, under the leadership of President John Dramani Mahama, is “resetting and rewriting this narrative” through the establishment of the Ghana Gold Board.
According to him, the GoldBod has been mandated to streamline gold trading, regulate the value chain, and ensure that the benefits of the country’s mineral wealth are optimized for socio-economic development.
He said Since its inception, GoldBod has implemented licensing reforms, strengthened regulatory oversight, introduced transparent pricing systems, and cracked down on illegal trading and smuggling. These efforts, he said, are already paying off.
According to him Between January and August 2025, Ghana recorded 66.7 tonnes of small-scale gold exports valued at about $6 billion, surpassing the total export figures for the whole of 2024, which stood at 63 tonnes valued at $4.6 billion. Mr. Gyamfi added that small-scale gold exports have also overtaken large-scale sector exports for the same period.
“These much-needed forex inflows have significantly strengthened Ghana’s reserves, improved our balance of payments and provided critical support to the Ghana Cedi,” he stressed.
Mr. Gyamfi announced that by the end of 2025, GoldBod will roll out a nationwide traceability system to ensure every gram of gold can be traced to its licensed and environmentally compliant source. He further disclosed that the Board will donate five Toyota Hilux pickups and GHS 5 million to support the National Anti-Illegal Mining Operations Secretariat, while also funding the reclamation of 1,000 hectares of degraded forest reserves beginning in November.
He revealed that from October, GoldBod will also begin rolling out corporate social responsibility projects including potable water, modern schools, health facilities, and scholarships in mining communities.
To attract capital and boost output, he stated that the GoldBod has signed an MoU with Goldstream Global DMCC to invest up to $1 billion in establishing over 300 responsible mines. The program is expected to create thousands of jobs for Ghanaian youth.
Mr. Gyamfi also revealed plans to establish an ultra-modern assay laboratory and a state-owned gold refinery at the Kotoka International Airport, aimed at ending Ghana’s dependence on exporting raw gold. A proposed “Gold Village” is also on the table, envisioned as a continental hub for jewellery and ornament production.
The GoldBod boss challenged financial institutions and pension funds to rethink their investment strategies, noting that Ghana’s primary pension fund yields negative returns while foreign funds profitably invest in mining.
“Why not reorient our pension strategy as a country toward gold — a time-tested asset and a better hedge against inflation?” he asked.
Mr. Gyamfi called for African nations to shift from raw exports to beneficiation, and from viewing youth as laborers to empowering them as innovators and owners.
“Ghana is resetting and Africa is rising. The GoldBod is ready. All we need now is courage and capital. Let us fund the minerals and mining sector differently. Let us transform it together,” he declared.
