Ghana is set to introduce a blockchain-based gold tracking system as part of efforts to overhaul the sector and combat illegal exports, the acting Managing Director of the Precious Minerals Marketing Company (PMMC), Sammy Gyamfi, said.

The initiative, tied to the Gold Board Bill currently before Parliament, aims to regulate pricing, curb smuggling, and centralise gold purchases from small-scale miners under a new Gold Board.

“Ghana loses around $2bn annually to gold smuggling - money that could support public investment,” Gyamfi told local broadcaster Joy News.

“The current system is failing the country. With this new setup, every licensed miner will be registered in a national database, and every production batch will have a unique digital code. As the gold moves through the chain from miner to buyer to exporter, each transaction will be recorded instantly on a blockchain platform,” he added.

According to Gyamfi, pilot projects in selected mining communities have yielded encouraging results. If passed, the bill will empower the Gold Board as the sole buyer of gold from licensed small-scale miners.

The new board will also implement a transparent pricing system that ensures fair compensation for miners while protecting state revenue.

Ghana, Africa’s top gold producer, has struggled with illicit trade routes, under-reporting, and weak oversight, which have significantly reduced potential state earnings.

The proposed Gold Board will also establish an anti-smuggling task force with powers to inspect shipments, conduct unannounced raids, seize unlicensed consignments, and prosecute offenders.

If approved, the blockchain tracking system would mark one of the first nationwide applications of the technology in Ghana’s mineral sector, signalling a major shift in how the country manages its gold resources.
Ghana to introduce blockchain gold tracking to curb smuggling

Ghana is set to introduce a blockchain-based gold tracking system as part of efforts to overhaul the sector and combat illegal exports, the acting Managing Director of the Precious Minerals Marketing Company (PMMC), Sammy Gyamfi, said.

The initiative, tied to the Gold Board Bill currently before Parliament, aims to regulate pricing, curb smuggling, and centralise gold purchases from small-scale miners under a new Gold Board.

“Ghana loses around $2bn annually to gold smuggling - money that could support public investment,” Gyamfi told local broadcaster Joy News.

“The current system is failing the country. With this new setup, every licensed miner will be registered in a national database, and every production batch will have a unique digital code. As the gold moves through the chain from miner to buyer to exporter, each transaction will be recorded instantly on a blockchain platform,” he added.

According to Gyamfi, pilot projects in selected mining communities have yielded encouraging results. If passed, the bill will empower the Gold Board as the sole buyer of gold from licensed small-scale miners.

The new board will also implement a transparent pricing system that ensures fair compensation for miners while protecting state revenue.

Ghana, Africa’s top gold producer, has struggled with illicit trade routes, under-reporting, and weak oversight, which have significantly reduced potential state earnings.

The proposed Gold Board will also establish an anti-smuggling task force with powers to inspect shipments, conduct unannounced raids, seize unlicensed consignments, and prosecute offenders.

If approved, the blockchain tracking system would mark one of the first nationwide applications of the technology in Ghana’s mineral sector, signalling a major shift in how the country manages its gold resources.