The Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, Esq. has announced the significant progress in reducing the smuggling of gold considerably, attributing the success to GoldBod’s transformation from PMMC.

Though, he admits gold smuggling still exists despite significant progress in reducing it under the new regime.

Appearing on Joy News’ PM Express, Mr. Gyamfi was evasive about putting figure to his claim.

“2%, I think, is low. I think 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.

According to him, the gains recorded so far are the result of multiple measures that combine pricing reforms, incentives, and enforcement.

“But we are deploying multiple measures; competitive and transparent pricing coupled with market incentives and also enforcement, and the combination of these measures is what is giving us the results we are getting,” he explained.

He disclosed a sharp increase in gold volumes as evidence that the system is working, especially within the artisanal and small-scale mining (ASM) sector.

“We got 104 metric tons of ASM gold in 2025; before that, in 2024, we got just about 63 tons. What is attributable to the central bank is just 45 tons. So, ASM alone is 104 metric tons, which is unprecedented,” he said.

He stated that GoldBod is targeting even higher output under the government’s reserve accumulation strategy.

“This year, we are projecting under the National Reserve Accumulation Program; we are hoping to even hit a target of over 120 metric tons. And so far, so good. So basically, that is a plan,” he said.

The Ghana Gold Board, since its establishment has succeeded in arresting some persons especially foreigners for engaging in gold smuggling.

These suspects, when apprehended, are made to face prosecution and in some cases, repatriation.