Sierra Leone’s Finance Minister, Sheku Fantamadi Bangura, has held talks with the Chief Executive Officer of the Ghana Gold Board (GOLDBOD), Sammy Gyamfi, in Accra, as his country considers adapting Ghana’s gold management framework to reform its mining sector.
The visit, which happened on Thursday, September 18, 2025, was a component of Sierra Leone’s initiatives to increase mineral revenues, improve transparency, and stop the smuggling of gold.
Similar reforms might “play a key role in boosting Sierra Leone’s economy,” Mr Bangura said, praising Ghana’s strategy as an “innovative step to formalise and strengthen its gold sector.”
He expressed special interest in Ghana’s licensing, assaying, and traceability policies, pointing out that they guarantee minerals are accurately recorded and that exports bring in a reasonable amount of money for the government.
Mr Gyamfi responded favorably to the idea of working together, emphasising that GOLDBOD is willing to exchange best practices, institutional experience, and technical know-how.
He clarified that formalising the gold trade through responsible sourcing, assaying, and licensing enhances investor confidence in addition to strengthening government accountability.
The organisation, which was founded earlier this year under the GOLDBOD Act, is authorised to purchase, test, and export gold from small-scale and artisanal miners who hold licenses.
Reducing illicit gold flows, boosting foreign exchange profits, and enhancing traceability across the gold trade are all part of its mandate.
The Ghanaian model offers both opportunities and challenges for Sierra Leone, where revenue has long been weakened by smuggling and lax regulation.
Although experts warn that such a system must strike a balance between government oversight, competitive markets, and protections for small-scale miners, centralised gold purchasing could increase state revenue and fortify anti-money-laundering measures.
In order to identify areas of cooperation, the parties decided to continue technical discussions and possibly sign a memorandum of understanding.
Source:Lovinghananews.com
