GoldBod Launches Crackdown On Illegal Gold Trading In Kumasi

The Ghana Gold Board (GoldBod) has launched a crackdown on illegal gold trading and smuggling in Kumasi and other parts of the Ashanti Region to regulate the gold sector and increase government revenue.

The crackdown was launched by the Chief Executive Officer (CEO) of GoldBod, Mr. Sammy Gyamfi, during a press conference held at the Ashanti Regional Coordinating Council in Kumasi on Monday, May 12, 2026. The press conference was covered by Ghana News Agency (GNA).

According to Mr. Gyamfi, GoldBod has arrested 15 illegal gold dealers and seized over 20 kilograms of gold being smuggled out of Ghana without license. He said GoldBod will not tolerate illegal gold trading and smuggling that deprives Ghana of revenue.

Speaking to Joy News in an interview at the Regional Coordinating Council, Mr. Gyamfi explained that GoldBod was established by government to regulate gold trading, assaying and exportation to ensure Ghana benefits from its gold resources. He said GoldBod has been given exclusive rights to buy and export small-scale gold.

He said, “We have arrested 15 illegal gold dealers in Kumasi and Obuasi for trading gold without license and for smuggling gold. We have seized over 20 kilograms of gold from them. They will be prosecuted according to the law. This is what we told Citi News during the press conference.”

According to a statement from GoldBod, all gold dealers and buyers must obtain license from GoldBod before they can trade gold. The statement signed by the Communications Officer of GoldBod, Mr. Prince Kwame Minkah, said GoldBod has opened offices in Kumasi, Accra, Tarkwa and Bolgatanga for licensing.

Mr. Minkah in a statement reported by Graphic Online said GoldBod has procured modern gold assaying equipment and armoured vehicles to enhance gold buying and transportation. He said GoldBod will ensure fair prices for small-scale miners and stop exploitation by middlemen.

The Ashanti Regional Minister, Dr. Frank Amoakohene, who was present at the press conference, commended GoldBod for the crackdown. According to a report by Peace FM, the Regional Minister said the Regional Coordinating Council supports GoldBod’s efforts to regulate gold trading and curb smuggling.

He said gold smuggling affects Ghana’s economy and deprives government of revenue needed for development. He said the Regional Coordinating Council will collaborate with GoldBod, Ghana Police Service and National Security to stop illegal gold trading in the region.

Some small-scale miners and gold dealers have expressed mixed reactions to the crackdown. Mr. Kwabena Osei, a small-scale miner at Obuasi, told Ghana News Agency that GoldBod’s licensing process is expensive and cumbersome. He said GoldBod should make licensing easier and cheaper.

Madam Akosua Frimpong, a gold buyer at Adum in Kumasi, said in an interview with Joy News that she supports GoldBod’s crackdown because some illegal dealers cheat small-scale miners by buying gold at low prices. She said GoldBod should ensure fair pricing.

Mr. Kofi Adjei, who operates a gold buying shop at Kejetia, told Ghana News Agency that he has applied for GoldBod license but has not received it yet. He appealed to GoldBod to expedite licensing process to enable licensed dealers to operate legally.

The CEO of GoldBod, Mr. Sammy Gyamfi, advised small-scale miners and gold dealers to obtain license from GoldBod and to sell their gold to GoldBod to get fair prices. He also advised them to avoid smuggling and illegal trading to avoid arrest and prosecution.

He said GoldBod in collaboration with Ghana News Agency and other media outlets will continue to educate miners and dealers on gold trading regulations and licensing procedures. He said GoldBod will establish Gold Buying Centres in mining communities.

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