Sammy Gyamfi is the CEO of GoldBod
The CEO of Ghana GoldBod, Sammy Gyamfi, has refuted claims that the company purchases gold from illegal small-scale miners in the country.
According to him, since its inception, GoldBod deals exclusively with seven large-scale mining companies in Ghana, from which it purchases 20 percent of their gold output to bolster its reserves.
Speaking on The Key Points on TV3 on October 11, 2025, Gyamfi explained that there are over 2,000 licensed small-scale mining companies in Ghana, which serve as the primary source of small-scale gold purchases for GoldBod.
“The GoldBod by law is mandated to buy gold from only licensed small-scale miners. GoldBod doesn’t buy gold from illegal miners. We only deal with licensed small-scale miners,” he said.
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He reiterated that GoldBod maintains a strict policy against engaging with illegal mining operations.
Gyamfi also revealed that by the first quarter of 2026, GoldBod will implement a track-and-trace system to help sanitize the gold supply chain.
“The processes have started, and we have already given timelines that by the first quarter of next year we will have a track-and-trace system, which has never happened in Ghana. This system will allow us to track every gram of gold in Ghana purchased by GoldBod,” he noted.
SP/MA
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