Stakeholder Engagement Integral to GoldBod’s Ongoing Traceability System Procurement – GoldBod Deputy CEO

The Deputy Chief Executive Officer of the Ghana Gold Board (GoldBod), Richard Nunekpeku, Esq., has disclosed that the GoldBod continues to engage key stakeholders across the gold value chain in developing the technical specifications and procurement framework for its proposed gold traceability system.

According to Mr. Nunekpeku, the stakeholder consultations formed a critical part of the process because GoldBod considers traceability essential to the formalisation of Ghana’s artisanal and small-scale mining (ASM) sector.

He explained that the proposed technology-backed system is intended to enable the tracking of gold from the point where it is mined through the supply chain until it reaches GoldBod, making extensive consultation necessary to ensure that the system is credible, sustainable and fit for purpose.

“Being the first time we are implementing a technology-backed process to track and trace every ounce of gold that is mined across the country, it meant that the scope of work that has to do with the technical specifications of the solution and what the terms of reference will have to be for developers must be very comprehensive,” he said.

Mr. Nunekpeku said GoldBod therefore engaged the small-scale mining associations and other industry stakeholders, including the Ghana-UK Gold Programme, Rand Refinery, described as the only London Bullion Market Association (LBMA)-accredited refinery in Africa, and others as part of efforts to develop a comprehensive and sustainable Terms of Reference (ToR) for the system.

He said the consultations were also intended to ensure that the system ultimately procured would deliver results that could withstand scrutiny and remain effective over time.

The Deputy CEO disclosed that the procurement process was subsequently conducted through the National Competitive Tendering Process, based on the Terms of Reference developed through stakeholder engagement.

He said the procurement had reached an advanced stage, expressing confidence that the successful bidder would implement a credible and tested system following the rigorous process undertaken by GoldBod.

“This is a process that involves all the stakeholders; we had participation from the Bank of Ghana, from small-scale miners association, from civil society and then the GoldBod,” Mr. Nunekpeku stated.

He explained that once the procurement process is successfully completed, GoldBod would begin with a pilot phase before proceeding to the full rollout of the traceability system.

The initiative forms part of GoldBod’s broader efforts to formalise the artisanal and small-scale mining sector and strengthen transparency and accountability across Ghana’s gold value chain.

By enabling gold to be tracked from its source, the system is expected to provide greater visibility over the origin and movement of gold produced in the country.

Mr. Nunekpeku said the deliberate stakeholder-driven approach was necessary to ensure that Ghana’s first technology-backed gold traceability system was developed on a strong foundation and capable of supporting the country’s efforts to promote responsible and transparent gold production and trading.