Ghanaian President John Dramani Mahama has inaugurated a task force under the Ghana Gold Board (Goldbod) to strengthen sovereignty and transparency in the gold sector, while intensifying the fight against smuggling and abuses.
Speaking at the official launch ceremony, President Mahama stated that under Act 1140, the newly created Goldbod now holds the exclusive right to purchase and export all gold produced in Ghana, with the exception of gold extracted by large-scale industrial mining companies.
"Through Goldbod, we are reaffirming our sovereignty over national mineral resources and initiating a paradigm shift—from raw extraction to value creation,” he declared.
The president emphasized that the task force’s role goes beyond security enforcement:
"This is a strategic instrument for national economic transformation, designed to restore integrity, transparency, and value to Ghana’s gold sector.”
Addressing illegal operators, President Mahama issued a stern warning:
"This is a clear message to all those involved in gold smuggling and illegal trade: the law will be enforced without fear or favor.”
To encourage public reporting of illegal activities, a reward system has been introduced. Any person whose information leads to arrests or the seizure of gold or cash will receive 10% of the recovered value.
President Mahama also warned task force members against any abuse of authority:
"Anyone who oversteps their mandate will face severe penalties, including dismissal, legal prosecution, and the loss of their rights.”
He further reiterated the penalties stipulated in the 2025 Goldbod Act, including fines of up to 2.4 million Ghanaian cedis, prison sentences of 5 to 10 years, or both.