The CEO of GoldBod, a leading player in Ghana’s mineral sector, has renewed calls for the establishment of a global gold certification system as a long-term solution to the widespread problem of gold smuggling. Speaking at an industry forum on mineral transparency, he argued that illegal gold trade continues to deprive African economies of billions of dollars in revenue each year and that coordinated international action is urgently needed.
According to him, current regulatory frameworks remain fragmented and inconsistent across countries, creating loopholes that smugglers exploit to move unregistered gold through neighbouring borders. He noted that Ghana, despite being one of Africa’s most regulated gold exporters, still suffers major losses due to undocumented shipments that bypass formal channels.
A global certification system, he explained, would allow gold to be traced from its source to its final destination, ensuring that all transactions comply with international standards. Such a system would mirror global mechanisms used in other commodities, such as the Kimberley Process for diamonds. By integrating digital tracking tools, blockchain technology, and verifiable origin documentation, he believes the gold industry can become far more transparent.
He added that certified gold would fetch higher prices on the international market, benefiting both governments and mining communities. Artisanal and small-scale miners, often blamed for illegal mining, would also gain access to legitimate markets if they follow proper documentation processes. This would help improve their livelihoods and reduce the environmental destruction associated with illegal activities.
Stakeholders at the forum agreed that smuggling has become a sophisticated criminal enterprise involving powerful networks across multiple countries. They noted that unilateral national measures are no longer effective in addressing such a globalised challenge. International collaboration, they argued, must involve not only African producers but also global buyers, refineries, and regulatory institutions.
Civil society groups present at the event stressed that certification must also protect mining communities from exploitation. They advocated for policies that ensure fair compensation, environmental responsibility, and community development plans within mining areas.
Government regulators welcomed the proposal, acknowledging that gold smuggling undermines tax revenue, distort markets, and fuels environmental degradation. They pledged ongoing cooperation with industry leaders to tighten border controls and enhance traceability mechanisms.
The GoldBod CEO concluded by urging African nations to champion the certification discussion at international platforms. He emphasised that Africa, being the largest gold-producing continent, must lead the movement for transparency. With global certification, he said, the continent can reclaim significant value from its natural resources and break the cycle of illicit mineral trade.