President John Dramani Mahama on Tuesday launched the Ghana Gold Board (GoldBod) Task Force as part of measures by the Government to protect the country’s gold resources from illegal exploration.
The President in his address at the inauguration of the Task Force in Accra, noted that it was a defining moment for Ghana’s Gold Sector and directly at the heart of Ghana’s economic revitalization and institutional reform.
He said the inauguration of the GoldBod Task Force marks a critical step in fully operationalizing the Ghana Gold Board Act, 2025 (Act 1140), which he assented to earlier this year.

“Today, we move from policy to implementation. This Task Force is not just a security initiative—it is a strategic arm of a national economic transformation project, purposefully designed to restore integrity, accountability, and value to Ghana’s gold sector,” he said.
President Mahama said upon assuming office in January, one of his earliest appointments was that of Mr. Sammy Gyamfi, as Acting Managing Director of the Precious Minerals Marketing Company (PMMC), with a mandate to lead the transformation of that institution into what was now the Ghana Gold Board.
He said under the leadership of the Minister for Finance, a technical committee was formed to develop the legal and regulatory framework for GoldBod.
He said this Committee, through nationwide consultations with miners, traders, traditional authorities, and civil society, laid the foundation for the passage of Act 1140, which is today hailed as a world-class piece of legislation.
Touching on reclaiming sovereignty over the nation’s mineral wealth, President Mahama said Ghana was Africa’s leading gold producer and the sixth largest globally; saying “Yet for too long, we have failed to derive commensurate benefits from this God-given resource”.
He said through GOLDBOD, the country was asserting national sovereignty over its mineral wealth and introducing a paradigm shift from raw extraction to value retention.
He said the GoldBod was designed to oversee, regulate, and participate directly in the gold value chain—from small-scale mining to assaying, trading, and export.
The President said the GoldBod held exclusive rights to purchase and export all gold produced in Ghana, except that from large-scale mining firms.

“Like cocoa, gold will now be consolidated, traded, and exported through a centralised, transparent system. The results speak for themselves.”
He said since its interim formation in January, 2025, the Ghana Gold Board had implemented aggressive reforms, especially in the artisanal and small-scale mining (ASM) sector.
“By May alone, GOLDBOD exported 11 tonnes of gold valued at USD 1.1 billion. Cumulatively, exports from the small-scale sector reached 51.5 tonnes, valued at approximately USD 5 billion.”
This, he said, represented a 95 per cent increase from the same period in 2024 and surpasses large-scale mining exports for the first time in history.
He said these inflows had strengthened the country’s foreign reserves, improved the balance of payments, and helped stabilize the Cedi.
He said more importantly it reaffirmed the belief that artisanal miners, when supported and formalized, could be powerful allies of development.
With regard to combating illegal trade and smuggling, President Mahama said there were still challenges, declaring that rampant gold smuggling and illicit trade continue to rob Ghana of billions in revenue.
He said a recent report revealed a 229 metric tonne discrepancy between Ghana’s official export records and the import records of our trading partners, amounting to over $11.4 billion in losses over five years; saying “This cannot continue”.
“The Ghana Gold Board was established to dismantle the black-market economy surrounding gold, and today’s inauguration of the GOLDBOD Task Force signals our readiness to act decisively.”

The President said the GoldBod Task Force comprises personnel from National Security, the military, and other security agencies, who had undergone rigorous vetting, polygraph testing, and orientation on Act 1140.
Concerning whistleblower, the President said: “Whistleblower channels are in place, with informants eligible to receive 10 per cent of the seized gold or cash value”.
“Let me be clear: abuse of authority will not be tolerated. Any officer found engaging in misconduct will face immediate sanctions, including dismissal, prosecution, and forfeiture of all entitlements.”
Mr Sammy Gyamfi, the Chief Executive Officer of the GoldBod, said the inauguration of the GoldBod Task Force and the appointment of GoldBold Inspectors was to ensure that the mandate the GoldBod had been given was enforced to the letter for the nation to reap the full benefit of its natural resources.