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Ghana is mounting a bold international campaign for a unified global gold certification system to combat smuggling, illicit trade, and the financing of criminal networks, an initiative unveiled by Lawyer Samuel Gyamfi, CEO of the Ghana Gold Board (GoldBod), during a high-level address at the Dubai Multi Commodities Centre (DMCC).
Speaking at the forum on the theme “Sourcing Gold from Artisanal and Small-Scale Mines (ASM)”, Gyamfi said the global gold economy is under threat from unregulated flows that fuel money laundering, terrorism, and criminal enterprises.
He warned that the world risks repeating the blood-diamond era unless decisive multilateral action is taken.
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“Gold is a resource for global economic stability and transformation. It cannot be allowed to become a haven for drug lords, armed actors, corrupt politicians, human traffickers and criminal networks,” he said. “Just as the world adopted the Kimberley Process for diamonds, the time has come for an equivalent global certification scheme for gold.”
Gyamfi appealed directly to the DMCC, UAE authorities, the LBMA, the OECD, the World Gold Council and global governments to back a system ensuring only responsibly sourced, verifiable gold enters the supply chain.
For years, Ghana has recorded massive discrepancies between the volumes of gold exported officially and those declared as imports by destination countries. Gyamfi said the reason is simple: “smuggled gold”, enabled by foreign buyers who “look the other way”.
He warned that under Ghana’s new law, any entity purchasing ASM gold outside Ghana’s GoldBod mechanism would be treated as part of the smuggling chain.
“If you’re not buying from a large-scale mine, you must buy from the GoldBod; otherwise, you are a smuggler or abettor, and the laws of Ghana will catch up with you,” he stressed.
Gyamfi revealed that Ghana has deployed a special GoldBod task force with “fierceness and ruthlessness”, arresting both local and foreign illegal traders now facing prosecution.
He added that a blockchain-powered Track and Trace System will be rolled out by the end of 2026 to ensure every gram of ASM gold is verifiably linked to a compliant mine.
“This is about protecting global good governance,” Gyamfi emphasised. “The time to act is now.”
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