Ghana is urging the international community to establish a multilateral certification scheme for gold, similar to the United Nations–backed Kimberley Process for diamonds, to prevent smuggled gold from entering the global supply chain.
The proposal was announced by the Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, during the 2025 Dubai Precious Metals Conference in Dubai.
Mr. Gyamfi said the absence of a unified international certification framework has enabled illicit gold to flow freely across borders, fuelling money laundering, terrorist financing and other criminal activities.
He stressed that a global mechanism is urgently needed to protect both producing and importing countries from the growing risks associated with illegal gold trading.
According to him, a certification regime would enhance transparency, improve accountability and restore integrity to the global gold industry.
“Just as the Kimberley Process helped curb conflict diamonds, a similar scheme for gold will prevent smuggled metal from entering legitimate supply chains,” he said.
He added that Ghana stands ready to work with the United Arab Emirates, the Dubai Multi Commodities Centre (DMCC), the World Gold Council, the London Bullion Market Association (LBMA), and governments worldwide to advance the initiative.
“We are confident that these steps will bolster global Anti-Money Laundering and Counter Terrorism Financing efforts,” he noted.
The call comes amid concerns that discrepancies between gold export records in Ghana and import records in other countries reflect large-scale smuggling. Mr. Gyamfi warned that the phenomenon has strengthened criminal networks and undermined good governance across several gold-producing nations.
In his speech, he also highlighted Ghana’s recent reforms to tighten control over its artisanal and small-scale mining (ASM) sector, including stricter licensing, increased enforcement, and the impending rollout of a blockchain-based Track and Trace system by 2026 to verify the origin of all ASM gold.
Mr. Gyamfi emphasised that global cooperation is essential to closing the loopholes exploited by smugglers. He called on industry leaders and international organisations to support developing countries that are working to transform their ASM sectors and safeguard the integrity of the global gold supply chain.
