Hot SourceIn a decisive push to reclaim control over Ghana’s gold sector, President John Dramani Mahama has officially inaugurated the Ghana Gold Board (GoldBod) Taskforce, describing it as a game-changing step to combat gold smuggling and restore value to the nation’s mineral wealth.
Speaking at Jubilee House on Tuesday (8 July), President Mahama framed the move as a defining moment for Ghana’s economic transformation. He declared the Taskforce’s creation a direct transition “from policy to implementation” under the Ghana Gold Board Act, 2025 (Act 1140).
“For too long, Ghana has failed to derive full benefits from our God-given resources,” Mahama said, stressing that the country has lost over $11 billion in revenue through illegal gold trade and smuggling in just five years. “This cannot continue,” he stated.
The Taskforce — comprising personnel from National Security, the military, and other security agencies — has been rigorously vetted, polygraphed, and trained in anti-corruption and integrity measures. Officers will be equipped with body cameras, GPS-tracked vehicles, and strict operational warrants to ensure maximum transparency.
Whistleblowers are incentivised with up to 10% of seized gold value, signaling a no-nonsense approach to enforcement.
Under the new framework, GoldBod now holds exclusive rights to purchase and export all gold produced in Ghana, excluding large-scale mining firms, where it retains preemptive rights. This centralisation, Mahama argued, will stabilise the cedi, boost foreign reserves, and foster formalisation in the artisanal mining sector.
The president highlighted early successes since January 2025, noting that small-scale gold exports surged to 51.5 tonnes, worth approximately $5 billion — a record-breaking figure surpassing large-scale mining exports for the first time in Ghana’s history.
Yet, President Mahama warned that regulatory strength alone would not suffice. “The complexities of corruption and smuggling require leadership, strong political will, ethical grounding, and technology-driven enforcement,” he said.
The “Gold Taskforce” has been given a clear mandate: enforce the law without fear or favour. Offenders face fines of up to GH¢2.4 million, imprisonment of up to 10 years, or both. Foreigners are banned from buying gold locally unless licensed through GoldBod.
Beyond enforcement, the president underscored a commitment to environmental sustainability and local value addition. Plans include a nationwide traceability system, an ISO-certified assay laboratory, and a future “Gold Village” to foster jewellery manufacturing and create jobs.
Mahama ended with a stern charge to Taskforce members: “Serve with honour and discipline. This is not business as usual — it is a matter of national duty and pride. Breach your oath, and you will face swift consequences.”
With this bold initiative, Ghana signals its readiness to break the cycle of exploitation and transform its gold sector into a pillar of economic sovereignty and national pride.
The post Mahama deploys “Gold Taskforce” to Crush Smugglers and Reclaim Ghana’s Wealth appeared first on The Herald ghana.
