Sammy Gyamfi is the CEO of GoldBod
The Chief Executive Officer of the Ghana Gold Board (Goldbod), Sammy Gyamfi, has rejected suggestions that the newly established institution is fueling illegal mining, popularly known as galamsey.
Speaking on JoyFM on September 19, 2025, Gyamfi described such claims as “false and misleading,” stressing that the Goldbod, which was set up barely five months ago, cannot be blamed for an age-long problem that has plagued the country for decades.
“Last year, when there was no Gold Board, galamsey had reached unprecedented and alarming levels. How then can a five-month-old statutory corporation be responsible for galamsey?” he questioned.
Gyamfi explained that the Board’s legal mandate is not to fight illegal mining directly but to support sustainable and environmentally responsible mining practices.
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He noted that resourcing agencies like the Ministry of Lands and Natural Resources, the Minerals Commission, and the Ministry of Environment, which bear the statutory responsibility for combating galamsey, are crucial.
According to him, in its short existence, the Gold Board has already provided GH¢5 million and five Toyota Hilux vehicles to the National Anti-Illegal Mining Secretariat to strengthen enforcement efforts.
He further disclosed that the Board is spearheading the introduction of a gold traceability system to ensure every ounce of gold can be tracked from its source.
This, he said, will require sophisticated technology, including satellite systems, RFID, and blockchain, to guarantee that only responsibly mined gold enters official supply chains.
“Because Ghana’s small-scale gold is not traceable, we are restricted to markets in Dubai, India, and Hong Kong. Traceability will open access to premium buyers like LBMA refineries in Switzerland, allowing the country to earn more revenue,” he explained.
Gyamfi acknowledged the challenges but maintained that the Gold Board was created precisely to lead such reforms.
“The fact that we are even having this national conversation about traceability shows the importance of the Gold Board,” he said, adding that pilot rollout of the system would begin next year.
He also noted that the bigger policy question the government must confront is how to treat untraceable gold, stressing that while some argue it should be rejected, others warn this could fuel smuggling.
“The reality is that gold will always find a market. Our responsibility is to ensure Ghana benefits from it through proper structures, and that is what the Goldbod is working to deliver,” he said.
SSD/SA
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