The Ghana Gold Board (GoldBod) has intensified its engagement with small-scale miners in the Ashanti Regional capital, Kumasi, as part of a broader national effort to reform gold trading systems and operationalize District Gold Buying Centres across mining communities. The stakeholder forum brought together representatives from mining associations, regulators, and industry actors to deliberate on practical steps toward improving efficiency, transparency, and accountability within Ghana’s gold value chain.
At the engagement, the Chief Executive Officer of GoldBod, Sammy Gyamfi, presented an update on the progress of ongoing reforms, outlining key milestones achieved so far as well as operational and structural challenges that require further attention. He explained that the stakeholder consultation was an essential part of the reform process, as it allows policymakers to incorporate feedback from those directly involved in small-scale mining and gold trading. According to him, continuous dialogue with miners is necessary to ensure that the reforms are practical, inclusive, and sustainable.
A central component of GoldBod’s initiative is the establishment of District Gold Buying Centres, which are intended to decentralize gold purchasing and bring formal trading systems closer to mining communities. These centres are expected to reduce logistical burdens on miners, minimize delays in transactions, and provide a more organized and regulated platform for gold sales. By situating buying centres at the district level, the programme aims to eliminate inefficiencies associated with long-distance travel to major urban trading hubs, while also improving oversight of transactions at the grassroots level.
The reform agenda is also designed to strengthen transparency in gold transactions and address long-standing challenges in the sector, including smuggling, under-declaration of production, and underpricing of gold. By creating structured and officially monitored channels for gold purchases, GoldBod seeks to ensure that all transactions are properly documented and that miners receive fair and competitive prices for their output. This, in turn, is expected to improve revenue inflows to the state and reduce leakages within the gold supply chain.
GoldBod’s efforts are particularly significant given the growing contribution of small-scale mining to Ghana’s economy. Small-scale miners have increasingly become a major source of gold production, contributing billions of dollars in foreign exchange earnings annually. Recognizing this, the reforms are focused on formalizing the sector to enhance traceability, improve compliance with regulations, and ensure that the economic benefits are maximized for both miners and the national economy.
During the forum, stakeholders also discussed the importance of strengthening collaboration between government agencies, local authorities, and mining communities. Participants highlighted that effective implementation of the District Gold Buying Centres will require coordination across multiple levels of governance, as well as adequate infrastructure, capacity building, and logistical support. Issues such as pricing mechanisms, security of gold transactions, and access to reliable market information were also identified as key factors that will influence the success of the initiative.
In addition, the engagement touched on the need to improve environmental and regulatory compliance within the small-scale mining sector. While formalization is primarily aimed at improving economic outcomes, it also provides an opportunity to enforce standards that minimize environmental degradation and promote responsible mining practices. By integrating miners into a regulated system, authorities can more effectively monitor activities and ensure adherence to national guidelines.
GoldBod officials reiterated that the reform programme is not only about restructuring gold trading but also about building a more accountable and resilient sector capable of supporting long-term economic growth. The District Gold Buying Centres are expected to play a pivotal role in this transformation by serving as hubs for regulated transactions, data collection, and policy implementation at the local level.
The Kumasi stakeholder forum forms part of a series of nationwide engagements aimed at ensuring that all relevant stakeholders are adequately consulted and informed about the reforms. GoldBod has indicated that similar interactions will continue in other regions as the rollout of the buying centres progresses, with the goal of refining the system based on real-world feedback from miners and industry participants.
Ultimately, the initiative reflects Ghana’s broader strategy to modernize its gold sector, enhance foreign exchange earnings, and reduce inefficiencies associated with informal trading. By promoting formalization, transparency, and collaboration, GoldBod aims to create a more structured and inclusive gold market that supports miners, strengthens state revenues, and reinforces Ghana’s position as one of Africa’s leading gold-producing countries.
