Ghana plans to overhaul its gold sector with a blockchain-powered tracking system by the end of 2026 to ensure full traceability and certified origin for all gold exports.
Aggressive reforms and extended timelines
Ghana is preparing to overhaul its gold sector by introducing a blockchain-based tracking system by the end of 2026. The system is designed to ensure full traceability and proof of origin for all gold purchased and exported from Ghana.
The announcement was reportedly made by Sammy Gyamfi, CEO of the Ghana Gold Board, during the 2025 Dubai Precious Metals Conference held on November 24. The initiative is part of sweeping reforms aimed at cleaning up the artisanal and small-scale mining (ASM) sector and removing illegal mining from the gold supply chain.
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Despite having been in operation for only seven months, the Gold Commission is moving towards implementing a track and trace system. Gyamfi explained that the system will include compliance audits to verify the legal and sustainable origin of every gram of processed gold and prevent licensed mines from being used as fronts for illegal operations.
Gyamfi said this initiative is critical to curbing gold smuggling, strengthening regulatory oversight, and promoting anti-money laundering (AML) and counter-terrorist financing (CTF) measures. According to the report, the implementation of blockchain-based systems is not just a policy objective, but a legal requirement set out in Article 31X of the Gold Board Act (Act 1140).
Gyamfi has revised the system's original target launch date, previously announced as Q1 2026, and extended the timeline to the end of 2026 to allow for a comprehensive procurement and implementation process.
Meanwhile, the CEO's remarks were quoted in a local report highlighting ASM's pivotal role in Ghana's 2025 economic recovery. The sector provided 90 tonnes of gold, about 53% of the country's total gold exports, and generated more than $9 billion in foreign exchange. The ASM sector currently supports over 1 million jobs.
However, Mr Gyamfi warned that unregulated and illegal mining continues to pose a serious threat to Ghana's rivers, forests and public health. To combat this, the Gold Board has stepped up enforcement, set up a specialized task force, and arrested and prosecuted several illegal traders. The Board is also investing in an International Organization for Standardization (ISO)-accredited analytical laboratory to modernize gold testing within the ASM value chain.
Seeking a global certification system
Gyamfi said gold smuggling is a major factor in money laundering and appealed to the international community to support the creation of a global certification system similar to the Kimberley Process for diamonds to prevent smuggled gold from entering the formal market.
He called on key international organizations such as the Dubai Multi Commodities Center (DMCC), OECD, London Bullion Market Association (LBMA) and World Gold Council to support developing countries' efforts to formalize the ASM sector.
Reforms to the Gold Council, established under President John Dramani Mahama's commitment to responsible mining, are already boosting Ghana's economy, contributing to a 35% appreciation in the cedi and a $2.1 billion trade surplus this year. Gold Board and Precious Minerals Marketing Company generated more than $8 billion from small-scale gold exports from January 2025 to October 15, 2025. This was a 75% increase compared to the total for all of 2024.
Frequently asked questions 💡
- What is Ghana's new gold initiative? A blockchain-powered tracking system to authenticate all gold exports by 2026.
- Why was the release schedule extended? Deployment has been moved to the end of 2026 to allow for full procurement and deployment.
- How important is ASM to Ghana's economy? Artisanal mining produced 90 tonnes in 2025, earned $9 billion and supported 1 million jobs.
- What kind of global support is Ghana seeking? Certification schemes such as the Kimberley Process to stop gold being smuggled into the market.
