The Ghana Gold Board (GoldBod) CEO has appealed to global investors to turn their attention to Ghana’s emerging opportunities in gold refining, jewellery production, and value addition.
Sammy Gyamfi, speaking at the opening of the Mining In Motion Summit at the Kempinski Hotel in Accra, said Ghana’s gold industry is no longer focused on extraction alone, but on building an integrated, value-oriented supply chain that benefits Ghanaians.
“Foreigners may apply for a license from the GoldBod to establish refineries, jewellery factories, and other forms of value addition enterprises,” he announced, stressing that the door is wide open for serious investors ready to partner with Ghana for mutual gain.
Sammy Gyamfi said Ghana is repositioning itself as not just Africa’s leading gold producer, but as a major value-adding hub.
“We are inviting the world to look beyond digging gold and join us in refining, processing, and producing world-class gold products from Ghana,” he urged.
He highlighted recent legislative reforms and structural overhauls aimed at restoring order and profitability to the country’s gold sector.
“For many years, Ghana’s poorly regulated gold trading sector denied the country from reaping the full benefits of its rich gold resource,” he noted.
“This disconnect may be likened to a butcher who is starved of protein.”
The establishment of the Ghana Gold Board, he said, marks a turning point.
“GoldBod is the central state agency mandated by law to oversee, regulate and undertake the buying, selling, assaying, refining and exportation of gold,” he said.
“It is the sole buyer and exporter of all artisanal small-scale gold in Ghana.”
In just four months, from February to May 2025, GoldBod has recorded gold purchases and exports from the artisanal small-scale mining (ASM) sector worth over GH¢40 billion —about $4 billion.
“For the first time, gold exports from the ASM sector have exceeded exports from large-scale mining,” Sammy Gyamfi revealed.
He added that in May alone, GoldBod exported 11 tonnes of ASM gold, valued at $1.172 billion.
“This shows the great prospects of the artisanal mining sector when properly harnessed,” he said, quoting President John Mahama: “Artisanal miners are not enemies of the state. When properly trained and supported, they can be allies of development.”
The GoldBod has introduced tighter controls to curb smuggling and improve revenue capture. It has also launched a licensing regime covering every player in the gold supply chain—from aggregators and refiners to exporters and transporters.
“All licensees are subject to a strict code of responsible sourcing and continuous due diligence,” Dr. Mortoti said, adding that the framework aligns with anti-money laundering and counter-terrorism financing standards.
Looking ahead, he announced that GoldBod will roll out a digital traceability technology before the end of 2025.
“This will ensure that every gram of gold is traceable, from mine to market,” he said. “It will enhance market access and increase the value of Ghana’s gold.”
Reaffirming Ghana’s openness to international partnerships, Sammy Gyamfi said: “Foreign investors can directly partner with Ghanaian aggregation license holders, or apply to off-take gold from GoldBod.
“But they must work through proper legal channels. The GoldBod Act prohibits foreigners from buying gold directly from the local market.”
In conclusion, he said Ghana is on the cusp of a gold-led transformation and is ready to build a lasting economic impact with its partners.
“We are not resting on our laurels. We are determined to fly higher. This journey has just begun.”
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