The Ghana Standards Authority (GSA) and the Ghana Gold Board (GoldBod) today held a high‑level meeting to roll out a new national initiative to standardize and calibrate gold‑weighing scales across the country. The programme is expected to ensure accurate measurement, guarantee fair pricing for miners and buyers, and foster greater transparency throughout the gold value chain.
The collaboration comes on the heels of sweeping reforms in the sector that have exposed longstanding concerns in gold trading, including inconsistencies in assaying and allegations of underhanded practices by some licensed buyers. In recent months, GoldBod has taken steps to tighten oversight, claiming exclusive authority over gold trading and assaying under the newly passed Gold Board Act, 2025 (Act 1140).
GoldBod’s Chief Executive Officer, Sammy Gyamfi, has been candid about the challenges. In October 2025, he conceded that despite licensing over 700 buyers nationwide, “[some] of them may at some point be doing the wrong thing.” He further noted that many gold transactions happen in regional offices, often far from mining sites, making it difficult to independently verify the legality or origin of gold. “Gold is bought in offices in district and regional capitals, not directly from mining sites,” he said.
To address these gaps, GoldBod is also working on a nationwide “track‑and‑trace” system, slated for launch in the first quarter of 2026, which would allow every gram of gold purchased to be traced back to its mine of origin. “This system will allow us to trace every gram of gold produced in Ghana and purchased by the Gold Board to its source,” Gyamfi declared.
Moreover, GoldBod has begun construction of an ISO‑certified assaying laboratory at the cargo village of the country’s main airport, a move critics say is long overdue, given that many transactions have historically relied on rudimentary purity tests such as water‑density or X‑ray fluorescence (XRF). “Many ASM traders still rely on outdated methods … a system prone to fraud,” Gyamfi noted, underscoring the urgency of modernising assaying practices.
Against this backdrop, the new calibration initiative, in partnership with GSA, represents a timely and strategic effort. By standardizing weighing scales nationwide and ensuring their periodic calibration, the authorities intend to eliminate weight‑based fraud, reduce disputes over under- or over‑weighing, and foster fairer trade practices across all levels, from artisanal miners to large‑scale buyers.
