Transforming Ghana’s Gold Sector: “Gov’t inaugurates Gold Board Task Force to boost economy and transform gold sector

The Government of Ghana has taken a bold and historic step to revolutionize its gold industry with the official inauguration of the Ghana Gold Board Task Force—a critical move aimed at ensuring transparency, curbing smuggling, and securing full economic benefits from the country’s rich mineral resources.

In a speech delivered at the inaugural ceremony, **President John Dramani Mahama** announced that this milestone marks the shift from policy to action under his administration’s ambitious **RESET agenda, comprehensive program to revitalize the nation’s economy and reform key institutions.

Since the interim launch of the Ghana Gold Board in January 2025, the country has already seen remarkable gains, with 61.5 metric tons of gold exported from the small-scale sector. This is valued at USD 5 billion, this represents a 95% increase over gains made from the same period last year. For the first time in Ghana’s history, small-scale gold exports have surpassed large-scale mining exports, the President noted.

President Mahama emphasized that this success demonstrates the potential of formalized artisanal and small-scale mining when backed by strong institutions and clear regulations.

The President explained that to ensure transparency all officers will wear monitoring body cameras and their vehicles will be GPS-tracked during operations.

He further revealed that a warrant system and whistleblower rewards has been established to deter abuse and encourage citizen reporting.

The President extended an open invitation to global institutions, including the London Bullion Market Association, World Gold Council, and OECD, to join Ghana’s journey toward sustainable, transparent, and profitable gold production.

The Minister for Lands and Natural Resources, Hon. Emmanuel Armah-Kofi Buah(MP) in his remarks, bemoaned the scale of gold smuggling plaguing the country, describing it as a crisis that robs the nation of vital development funds and undermines the livelihoods of mining communities.

The Minister emphasised that gold is not only a national economic pillar but the lifeblood of many Ghanaian households, hence the fight against illegal mining and smuggling is not just about law enforcement—it is a battle for the prosperity of Ghana.

In response to the gold mining crisis, Hon. Buah outlined key reforms spearheaded by the Ministry, including the upcoming launch of the Cooperative Mining Scheme. This bold initiative will reorganize small-scale miners into registered cooperatives under the supervision of government agencies, large-scale mining firms, and select independent bodies.

Under this program, miners will receive:
-Training in environmentally sound mining practices
-Logistical and financial support and
-Pathways to legally and sustainably participate in Ghana’s gold value chain.

Hon. Armah-Kofi Buah lauded the formation of the Gold Board Task Force, reiterating its pivotal role in this transformation. He charged its members to act not just as enforcers of the law but as defenders of Ghana’s sovereignty and stewards of its future wealth.

He affirmed the Ministry’s backing for the Task Force and pledged that this new era of intelligence-driven, coordinated, and sustainable gold governance would help Ghana reclaim control of its mineral resources and economic destiny.

Also present at the inauguration were Chief Executive of the Gold Board, Mr. Sammy Gyamfi, Minister for Finance, Hon. Ato Forson, and National Security Coordinator, DCOP Osman Abdul Razak

The event marks a turning point in Ghana’s mining sector, setting the tone for a new era of accountability, community empowerment, and responsible resource management