{
  "id": 405208,
  "title": "GoldBod profiling licensed buyers to track source of gold — Sammy Gyamfi",
  "url": "https://urgent.news/2026/08/09/goldbod-profiling-licensed-buyers-to-track-source-of-gold-sammy-gyamfi",
  "topic": "ai",
  "section": "AI",
  "published": "2026-08-09T20:16:59.000Z",
  "source": {
    "name": "MyJoyOnline Ghana",
    "slug": "myjoyonline-ghana",
    "url": "https://www.myjoyonline.com/goldbod-profiling-licensed-buyers-to-track-source-of-gold-sammy-gyamfi/"
  },
  "original_language": "en",
  "account": "Sammy Gyamfi, the Chief Executive Officer of the Ghana Gold Board (GoldBod), has revealed that the organization is working on identifying the source of gold purchased by licensed buyers in Ghana. This initiative aims to enhance traceability and accountability within the country's gold sector. According to Gyamfi, the profiling effort is enabling GoldBod to trace the origins of gold transactions and gain a better understanding of gold flow dynamics across the nation. This development is part of GoldBod's broader strategy to bolster regulatory oversight of the industry and ensure that gold traded through official channels can be accurately accounted for.\n\nIn recent times, the gold value chain in Ghana has witnessed several significant changes. For instance, there has been a surge in local refining of gold acquired by GoldBod. Currently, 7.1 metric tonnes of gold purchased by the Board are undergoing refining processes within Ghana. This local refining activity allows the country to retain valuable refining fees that would otherwise be directed to countries like the United Arab Emirates. Moreover, Ghana's expanding refining capacity has positioned the nation to play a more substantial role in the international gold market. This is evidenced by the recent accreditation achieved by Gold Coast Refinery by the London Bullion Market Association (LBMA).\n\nDuring a Twitter Spaces discussion held on Sunday, August 9, Gyamfi elaborated on the importance of profiling licensed buyers. He emphasized that this exercise is helping GoldBod gain insights into the origin of gold entering the formal market. \"We are profiling all persons with a license to buy gold in Ghana, and it is helping us know where all the gold buys are coming from,\" Gyamfi stated.",
  "summary": "The Ghana Gold Board (GoldBod) is taking steps to enhance transparency and accountability within the country's gold sector by profiling licensed buyers. CEO Sammy Gyamfi announced this initiative, stating that it will aid in tracking the source of gold purchased by licensed entities and provide a clearer picture of gold flows across Ghana. This profiling is part of broader efforts to strengthen oversight of the industry and ensure that gold traded formally can be properly accounted for. Additionally, GoldBod has seen an increase in local refining of gold, with 7.1 metric tonnes currently being refined in Ghana. This development allows the country to retain refining fees that would otherwise go to other nations, such as the United Arab Emirates. Furthermore, Ghana's expanding refining capacity positions it to play a more significant role in the international gold market, as evidenced by the LBMA accreditation secured by Gold Coast Refinery.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "MyJoyOnline Ghana",
        "title": "Gold-buying companies under NPP operated without contracts – Sammy Gyamfi",
        "url": "https://urgent.news/2026/08/09/gold-buying-companies-under-npp-operated-without-contracts-sammy",
        "published": "2026-08-09T20:11:24.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}