From Smuggling to Smart Mining: Sammy Gyamfi Goes FULL REFORM Mode — Blockchain, Transparency, Accountability!
Sammy Gyamfi, who is the Chief Executive Officer of the Ghana Gold Board, has been given his approval by Senyo Hosi, a well-known expert in the fields of finance and economics, due to his strong advocacy for environmentally responsible mining practices and the protection of the environment. Hosi praised Gyamfi on a Facebook post for his comments at the Precious Metals Conference in Dubai, where Gyamfi stated that no amount of gold is worth the risk to the lives and futures of the people of Ghana. Hosi characterized this stance as being both timely and in line with the national discussion on the balance between the exploitation of minerals and environmental stewardship. Mr. Gyamfi’s position is taken in light of the Gold Board’s implementation of significant reforms aimed at sanitizing Ghana’s gold trading ecosystem, curbing smuggling, and increasing transparency. These reforms include giving the Board exclusive authority to assay, grade, value, purchase, and export artisanal and small-scale mining (ASM) gold, introducing a transparent pricing model, establishing a national aggregation system, updating licensing requirements, and preparing to roll out a blockchain-based Track and Trace platform to ensure complete transparency. The early results of these initiatives have shown that the exports of ASM gold have exceeded those of large-scale mining companies. The goal of these interventions is to bring the ASM industry into compliance with regulations, increase foreign currency reserves, and guarantee that gold trade is ethical and traceable.
