Ghana is gearing up to revolutionize its gold sector with the implementation of a blockchain-powered track and trace system by the conclusion of 2026. This system will guarantee the complete traceability and certified origin of all gold exports from the country.
Aggressive Reforms and Extended Timeline
The gold sector in Ghana is on the brink of a major transformation with the introduction of a blockchain-powered track and trace system set to be in place by the end of 2026. This system aims to ensure that the origin of all gold purchased and exported from Ghana is fully traceable and certified.
The announcement was made by Sammy Gyamfi, the CEO of the Ghana Gold Board, during the 2025 Dubai Precious Metals Conference on Nov. 24. This initiative is part of a series of reforms aimed at cleaning up the artisanal and small-scale mining sector and eradicating illegal mining from the gold supply chain.
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Despite its short operational period of seven months, the Gold Board is moving forward with the deployment of the Track and Trace system. Gyamfi emphasized that the system will authenticate the legitimate and sustainable origin of every gram of processed gold and will include compliance audits to prevent licensed mines from being used for illegal activities.
Gyamfi stressed the importance of this initiative in combating gold smuggling, enhancing regulatory oversight, and supporting anti-money laundering and counter-terrorism financing efforts. According to reports, the deployment of the blockchain-based system is not just a policy objective but a legal requirement outlined in Section 31X of the Gold Board Act (Act 1140).
Gyamfi revised the initial target launch date of the system from the first quarter of 2026 to the end of 2026 to allow for thorough procurement and deployment processes.
In a local report, the CEO highlighted the significant role of the ASM sector in Ghana’s economic recovery in 2025. The sector contributed 90 tonnes of gold, accounting for approximately 53% of the country’s total gold exports, and generated over $9 billion in foreign exchange. The ASM sector currently supports more than one million jobs.
However, Gyamfi cautioned that unregulated and illegal mining poses a serious threat to Ghana’s environment, including its rivers, forests, and public health. To address this issue, the Gold Board has intensified enforcement efforts, establishing a dedicated task force that has apprehended and is prosecuting several illegal traders. The Board is also investing in an ISO-certified assay laboratory to modernize gold testing in the ASM value chain.
Call for a Global Certification Regime
Gyamfi identified gold smuggling as a significant driver of money laundering and called on the international community to support the establishment of a global certification regime, similar to the Kimberley Process for diamonds, to prevent smuggled gold from infiltrating legitimate markets.
He urged key international bodies, such as the Dubai Multi Commodities Centre (DMCC), the OECD, the LBMA, and the World Gold Council, to assist developing countries in formalizing the ASM sector.
The reforms implemented by the Gold Board under President John Dramani Mahama’s commitment to responsible mining have already had a positive impact on Ghana’s economy. This has led to a 35% appreciation of the cedi this year and a $2.1 billion trade surplus. Between January and October 15, 2025, the Gold Board and the Precious Minerals Marketing Company generated over $8 billion from small-scale gold exports, marking a 75% increase compared to the total for all of 2024.
FAQ đź’ˇ
- What is Ghana’s new gold initiative? A blockchain-powered Track and Trace system to certify all gold exports by 2026.
- Why was the launch timeline extended? The rollout was moved to end-2026 to allow full procurement and deployment.
- How vital is ASM to Ghana’s economy? Artisanal mining produced 90 tonnes in 2025, earning $9B and supporting 1M jobs.
- What global support does Ghana seek? A certification regime like the Kimberley Process to stop smuggled gold entering markets.