From Reform to Results: Sammy Gyamfi’s Leadership at GoldBod

When the Ghana Gold Board (GoldBod) was established under the Ghana Gold Board Act, 2025 (Act 1140), it marked the beginning of an ambitious effort to transform Ghana’s gold trade. Tasked with implementing that vision was Chief Executive Officer, Sammy Gyamfi, Esq., whose leadership has overseen a series of reforms aimed at ensuring that the country’s gold resources deliver greater value to the national economy.

From the outset, Mr. Gyamfi has championed the formalisation of Ghana’s artisanal and small-scale mining sector, arguing that a transparent and well-regulated gold trade is essential to reducing smuggling, increasing foreign exchange earnings and protecting the country’s natural resources. Under his leadership, GoldBod has introduced a new licensing regime, initiated the rollout of District Gold Buying Centres and commenced the implementation of a national gold traceability system to track gold from mine to market.

These reforms have been complemented by sustained stakeholder engagement. Through regular consultations with miners, licensed buyers, exporters, traditional authorities and industry associations, GoldBod has sought to build consensus around policies designed to create a more accountable and inclusive gold sector.

One of the defining outcomes of this reform agenda has been GoldBod’s contribution to Ghana’s foreign exchange generation. By strengthening formal trading channels and supporting the country’s gold reserve accumulation programme, the institution has helped facilitate billions of dollars in foreign exchange while contributing to efforts to strengthen the Ghana cedi and improve macroeconomic stability. During this period, GoldBod also began transitioning into its statutory role as the country’s sole buyer and exporter of gold from the licensed artisanal and small-scale mining sector.

Beyond regulation, Mr. Gyamfi has overseen strategic initiatives to deepen value creation across the industry. GoldBod has partnered with local refineries to promote value addition, invested in geological investigations for model mining projects, supported responsible mining programmes and collaborated with environmental and security institutions to combat illegal mining and protect Ghana’s forests and water bodies. Historic supply arrangements with large-scale mining companies have also expanded GoldBod’s access to domestically produced gold, strengthening national reserve accumulation.

The institution’s performance has not gone unnoticed. GoldBod has earned national recognition for excellence, including honours as State-Owned Enterprise of the Year, Most Profitable State-Owned Enterprise and Overall Best Specified Entity at the Public Enterprises League Table Awards. At the same time, delegations from other African countries have visited Ghana to study aspects of the GoldBod model, reflecting growing continental interest in the country’s evolving approach to gold governance.

Although GoldBod remains a young institution, its first year has been characterised by purposeful reform and institution building. Under Sammy Gyamfi’s leadership, the Board has laid important foundations for a more transparent, competitive and responsible gold industry. As these reforms continue to mature, sustained leadership, stakeholder collaboration and policy consistency will be essential to shaping a gold value chain that delivers enduring benefits for miners, traders, investors and the people of Ghana.