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The Ghana Gold Board (GoldBod) is set to launch a track-and-trace system in the first quarter of 2026 to promote ethical and transparent gold sourcing and eliminate fraud in the country’s gold trade. This initiative forms part of the Gold Board’s broader agenda to sanitize the gold trade, promote accountability, and enhance regulatory compliance within the mining sector.
The system, mandated by Section 31X of the Gold Board Act, 2025 (Act 1140), aims to ensure that every gram of gold produced and purchased can be traced to its origin. This will enable the GoldBod to track every gram of gold produced in Ghana and purchased by the Board to its source, thereby promoting transparency and accountability.
One of the key challenges the system aims to address is the difficulty in verifying the legitimacy of sellers, particularly in district and regional capitals where gold purchases often take place. Currently, buyers may not have the technology to confirm whether the seller is licensed, which can lead to illicit activities.
The Ghana Gold Board believes that the track-and-trace system will revolutionize Ghana’s gold trade by ensuring transparency and accountability. The government has reaffirmed its commitment to promoting responsible and sustainable mining practices, and the launch of the track-and-trace system is expected to enhance transparency and ethical gold sourcing across the country.
epos MBN360 news
