Inauguration of Taskforce marks a critical step in fully operationalizing Ghana Goldbod – Mahama

President John Dramani Mahama has inaugurated a special task force under the Ghana Gold Board to enforce gold trade regulations and crack down on illegal exports.

The unit, equipped with body-worn cameras, GPS-tracked vehicles, and a reward system for whistleblowers, was launched on Tuesday, July 8, 2025, at the Jubilee House in Accra. The task force is part of the government’s efforts to formalize the gold trade and improve accountability in the sector.

The President emphasized that the task team had been carefully chosen and trained, with all members undergoing polygraph tests, anti-corruption briefings, and team exercises before deployment. He added that every field operation must be authorized in writing by the Chief Executive Officer of the Gold Board and would be monitored in real-time.

According to President Mahama, the initiative is part of the government’s broader economic reform and an effort to plug longstanding revenue leakages in the gold sector. He cited a recent report that revealed a 229-metric-tonne discrepancy between Ghana’s official gold export records and those of its trading partners, resulting in a lost value of approximately $11.4 billion over five years.

“The inauguration of this Taskforce marks a critical step in fully operationalizing Ghana Goldbod,” President Mahama said. “The task force will play a crucial role in protecting Ghana’s mineral wealth and ensuring fair pricing and accountability in the sector.”

The task force aims to defeat the phenomenon of gold smuggling, which deprives the state of much-needed revenue and profit. It will also target illegal gold trading activities that disrupt the economy and hinder economic development. Traders will be required to secure the appropriate license to engage in gold trading, and those trading without license will face prosecution.

In a related article published by Citi Business News, titled “Ghana Gold Board Task Force Launched to Combat Gold Smuggling,” the importance of the task force was highlighted. According to the article, “The task force will play a crucial role in protecting Ghana’s mineral wealth and ensuring fair pricing and accountability in the sector.”

The task force’s efforts are expected to save the government from revenue leakages and generate more revenue for economic development. By combating gold smuggling and promoting responsible mining practices, the Gold Board aims to contribute to Ghana’s economic growth and development.

As per Sammy Gyamfi, CEO of GoldBod, “The task force will be equipped with the necessary tools and resources to effectively monitor and regulate the gold industry.”

The Ghana Gold Board Act, 2025 (Act 1140), empowers the Gold Board to oversee the gold sector and enforce regulations. The task force will work closely with the Gold Board to develop and implement policies that will promote the growth and development of the gold industry in Ghana.

The inauguration of the Ghana Gold Board Task Force marks a critical step in fully operationalizing the Gold Board. With the right policies and commitment, Ghana can benefit from its rich gold resources and contribute to the country’s economic development.