The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has stated that government interventions have significantly reduced gold smuggling in the country, though the illicit trade has not been fully eradicated.

Speaking in an interview with PM Express on Joy News, Gyamfi acknowledged the progress but noted that quantifying the exact reduction remains challenging. “Two percent, I think, is low. We’ve reduced smuggling considerably. I won’t give any figures, but I think it’s come down significantly. We’ve not eliminated it; you can’t eliminate crime. It’s still there,” he said.

The GoldBod CEO attributed the gains to a multi-pronged strategy implemented following the transformation of the Precious Minerals Marketing Company (PMMC) into GoldBod. Key measures include reforms in pricing, improved market incentives, and strengthened enforcement mechanisms.

“We are deploying multiple measures—competitive and transparent pricing, market incentives, and enforcement—and the combination of these is delivering the results we are seeing,” Gyamfi explained.

He highlighted a notable increase in gold volumes from the artisanal and small-scale mining (ASM) sector as evidence of progress. ASM gold production rose to 104 metric tons in 2025, up from about 63 metric tons in 2024, with only 45 metric tons accounted for by the central bank. “ASM alone is 104 metric tons, which is unprecedented,” he stressed.

Looking ahead, GoldBod aims to exceed 120 metric tons of gold output this year under the government’s National Reserve Accumulation Programme. “This year, we are projecting… to hit a target of over 120 metric tons. And so far, so good. So basically, that is the plan,” Gyamfi said.

Since its establishment, GoldBod has intensified efforts to curb illegal gold trading. Several individuals, including foreign nationals, have been arrested for smuggling, with some facing prosecution or repatriation.

While acknowledging that completely eliminating gold smuggling remains difficult, Gyamfi emphasized that the current trajectory demonstrates meaningful progress in protecting Ghana’s gold resources and strengthening regulatory oversight in the sector.