Ghana is moving to overhaul its gold industry by implementing a blockchain-powered tracking system by the end of 2026. The initiative aims to provide full traceability and certified origin for all gold purchased and exported from the country, marking a significant step in the fight against smuggling and illegal mining.

Aggressive Reforms Target Illicit Trade

The plan was announced by Sammy Gyamfi, CEO of the Ghana Gold Board, during the Dubai Precious Metals Conference on November 24, 2025. The system is a central part of sweeping reforms designed to legitimize the artisanal and small-scale mining (ASM) sector and purge illegal operations from the supply chain.

Gyamfi explained that the platform will verify the sustainable origin of every gram of processed gold. It will also incorporate compliance audits to prevent licensed mines from being used as fronts for illicit activities. He stressed that the initiative is crucial for strengthening regulatory oversight and bolstering the country’s anti-money laundering (AML) and counter-terrorism financing (CTF) efforts.

The deployment of this blockchain-based system is not just a policy objective but a legal mandate under the Gold Board Act. Gyamfi revised the initial launch target from the first quarter of 2026 to the end of the year, allowing more time for a comprehensive procurement and deployment process.

Economic Impact and Enforcement

The ASM sector plays a pivotal role in Ghana’s economy. In 2025, it produced 90 tonnes of gold, accounting for approximately 53% of the nation’s total gold exports and generating over $9 billion in foreign exchange. The sector now provides jobs for over one million people.

However, Gyamfi warned that unregulated mining continues to pose a serious threat to Ghana’s rivers, forests, and public health. In response, the Gold Board has increased enforcement by launching a dedicated task force that has already arrested and begun prosecuting several illegal traders. The board is also investing in a new International Organization for Standardization (ISO) certified assay laboratory to modernize gold testing.

A Call for a Global Standard

Describing gold smuggling as a major driver of money laundering, Gyamfi called on the international community to support a global certification regime. He proposed a system similar to the Kimberley Process for diamonds, which would prevent smuggled gold from entering legitimate markets.

He specifically urged key international bodies—including the Dubai Multi Commodities Centre (DMCC), the OECD, the London Bullion Market Association (LBMA), and the World Gold Council—to back developing countries in their efforts to formalize the ASM sector.

The reforms have already delivered a significant economic boost. Ghana’s currency, the cedi, appreciated 35% this year, contributing to a $2.1 billion trade surplus. Between January and October 15, 2025, small-scale gold exports generated over $8 billion, a 75% increase compared to the total for all of 2024.