GoldBod reforms in Ghana are reshaping the country’s gold mining industry under the bold leadership of President John Dramani Mahama. At the Mining in Motion Conference in Accra, President Mahama shared his vision behind the creation of the Ghana Gold Board (GoldBod), describing it as a powerful tool to maximize the benefits of Ghana’s gold resources for its citizens.
He praised the early achievements of the initiative, noting that it has already improved the gold sector by increasing transparency and revenue. “The GoldBod is now central to our plan to ensure Ghanaians enjoy the full benefits of our gold wealth,” Mahama said.
In the first four months of 2025 alone, Ghana earned $2.7 billion in gold export revenue through GoldBod and the Precious Minerals Marketing Company (PMMC), with expectations for even more growth as reforms continue.
But the GoldBod reforms in Ghana go beyond just making money. President Mahama explained that the focus is also on ethical and responsible gold sourcing. A new “track and trade” system will help ensure that exported gold comes from safe, legal, and environmentally responsible operations.
GoldBod is also working with small-scale miners to promote best practices in mining and is set to reclaim 10,000 hectares of mined-out lands in partnership with the Ministry of Lands and Natural Resources and the private sector.
GoldBod Taskforce to Tackle Smuggling
A key feature of the GoldBod reforms in Ghana is the formation of a dedicated taskforce. On July 8, 2025, President Mahama will officially launch this new security unit, which has been empowered to arrest, detain, and prosecute illegal gold traders. This move is part of wider efforts to stop gold smuggling and protect Ghana’s economy from revenue losses.
According to Sammy Gyamfi, CEO of GoldBod, all previous gold trading licenses have been canceled. Now, only licenses issued under the new GoldBod framework are valid. Any breaches of this new regulation will be treated as criminal acts under the Ghana Gold Board Act, 2025 (Act 1140).
The taskforce will be backed by a nationwide intelligence team that is already monitoring illegal gold trade operations. Gyamfi warned offenders that their activities are being tracked and will not go unpunished.
He also revealed the massive scale of Ghana’s gold exports under the reformed system, stating,
“When you hear that we have exported over 50 tons of gold, and this month alone we’re doing almost nine tons, then you know that just this month we’ve brought in nothing less than $900 million in forex for the Bank of Ghana.”
This highlights the critical role the GoldBod now plays not only in regulation but also in generating significant foreign exchange to support the national economy.
Ensuring Global Standards and Accountability
President Mahama also revealed that the GoldBod reforms in Ghana include efforts to obtain London Bullion Market Association (LBMA) certification. This move will boost Ghana’s competitiveness by confirming that its gold meets international quality and sourcing standards.
With a clear focus on transparency, environmental protection, and national interest, GoldBod is fast becoming a symbol of change. These reforms represent a shift toward sustainable resource management and a future where all Ghanaians benefit from the country’s natural wealth.
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