The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has issued a stern warning to individuals and syndicates involved in illegal gold trading and smuggling, vowing that the institution will clamp down decisively on perpetrators to protect Ghana’s gold revenue stream.
“We’re coming after you!” he declared at a press conference on Monday, June 30, 2025, at the GoldBod Head Office, during a briefing on the board’s licensing transition framework.
Mr. Gyamfi emphasised the critical importance of formalising gold trading activities to curb smuggling, which deprives the country of foreign exchange earnings needed for economic development. He announced that GoldBod will inaugurate a specialised security taskforce to tackle this menace.
“But for those who are hell-bent on trading illegally without a license, we are serving notice that we are coming after you,” he said.
He revealed that President Mahama will officially inaugurate the taskforce on July 8, 2025, at 8:30 a.m., at the National Security Secretariat, popularly known as Blue Gate.
“This event is going to be the inauguration of the Gold Board Taskforce. On that day, the president will outdoor this new security taskforce who have the same powers as police officers and who have been given a special and specific mandate to help the state combat and defeat the phenomenon of gold smuggling, the canker of illegal gold trading, and price disruptions that deprive the state of the needed revenue, the needed profits, the needed forex for our economy and the development of our country as a whole.”
According to Mr. Gyamfi, the taskforce will be intelligence-driven, working with operational data already being gathered nationwide. He sent a direct warning to illegal traders:
“We know you. You are not in hiding at all because your cover is blown. We know who you are. So you better do the needful and stop the illegal gold trading you’re engaging in and the gold smuggling and come for a license and do your business as a responsible citizen and contribute to the development.”
He urged all stakeholders to comply with the new GoldBod regulatory and licensing regime, adding, “That all stakeholders will play by the rules so that we will not have to crack the whip for anybody.”
The upcoming task force is part of the government’s broader reforms to sanitise Ghana’s gold sector, boost state revenue, stabilise gold prices, and enhance the credibility of Ghana as a leading gold producer and exporter.
Gold remains Ghana’s top foreign exchange earner, with the Bank of Ghana’s gold purchase programme and recent fiscal reforms relying heavily on efficient gold trade management.
