By Leo Nelson
The Ghana Gold Board (GoldBod) has commenced the procurement process for a national traceability system, a strategic move designed to bolster oversight and enhance transparency across the nation’s gold supply chain, with a specific focus on the artisanal and small-scale mining (ASM) sector.
By digitizing the monitoring of gold from extraction to export, this initiative seeks to modernize Ghana’s gold trading ecosystem, curb systemic leakages, and ensure the sector aligns with evolving global standards for responsible sourcing and accountability.
“The system, when implemented, is expected to enable GoldBod to track and trace gold from the point of extraction through to export, enhancing transparency and accountability in the sector.”
This comprehensive procurement effort represents a major step in GoldBod’s reform agenda, moving beyond manual oversight to a more rigorous, technology-driven framework.
According to the Director of Procurement, Frank Ademan, the initiative is being conducted in strict compliance with the Public Procurement Act, utilizing the Ghana Electronic Procurement System (GHANEPS) to ensure integrity and eliminate potential manipulation.
The process, which officially kicked off with a call for expressions of interest on March 25, 2026, has already attracted significant attention from the industry, with 27 firms submitting proposals by the April 17, 2026, deadline.
These submissions are currently under review by a specialized evaluation committee, which includes industry experts, representatives from the Bank of Ghana, the UK Gold Programme, and the Ghana National Association of Small-Scale Miners.
The path to selecting the successful firm is designed to be highly competitive and transparent. Ademan explained that qualified firms will be taken through multiple, rigorous stages of evaluation.
“Shortlisted firms will be required to present proof of concept and respond to technical questions from the committee,” he noted, emphasizing the need for participants to demonstrate their capacity to design a system capable of monitoring complex gold flows.
To ensure the technical requirements are met, GoldBod has encouraged the participation of Ghanaian firms while allowing for joint ventures with experienced international partners.
These partnerships will be meticulously assessed to ensure efficiency. Ultimately, the successful firm will be chosen based on a combination of technical scores and financial assessments, ensuring that the selected partner possesses both the industry understanding and the technological expertise required to implement a robust national system.
The implementation of a national traceability system is expected to fundamentally transform gold trading in Ghana by creating a secure “chain of custody.”
By documenting the journey of gold from artisanal and small-scale mining sites to refiners and exporters, the system will provide credible assurance that the mineral was produced responsibly.
For the ASM sector, which is often plagued by informality and illicit trading networks, this system acts as a gateway to formalization.
Enhanced transparency enables miners to prove the origin of their gold, which is a prerequisite for accessing international markets that demand due diligence. Furthermore, the system provides a mechanism to mitigate risks such as smuggling, money laundering, and the use of child labor.
By establishing a digital footprint for every transaction, Ghana will be better positioned to increase its national revenue from gold, as it significantly reduces the opportunities for tax evasion and gold leakages that currently impact the national economy.
This technological intervention not only secures Ghana’s reputation as a reliable source of gold but also fosters a more equitable and professionalized mining environment that benefits local communities and investors alike.