{"id":94948,"date":"2025-09-19T17:32:06","date_gmt":"2025-09-19T17:32:06","guid":{"rendered":"https:\/\/sotnews.agency\/?p=94948"},"modified":"2025-09-19T17:32:06","modified_gmt":"2025-09-19T17:32:06","slug":"sierra-leone-turns-to-goldbod-model-to-curb-smuggling-boost-revenue","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=94948","title":{"rendered":"Sierra Leone turns to GoldBod model to curb smuggling, boost revenue"},"content":{"rendered":"
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Sierra Leone\u2019s 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\u2019s gold management framework to reform its mining sector.<\/p>\n

The visit, which took place on Thursday, September 18 formed part of Sierra Leone\u2019s efforts to curb gold smuggling, enhance transparency, and raise mineral revenues.<\/p>\n

Mr. Bangura praised Ghana\u2019s approach, describing it as an \u201cinnovative step to formalise and strengthen its gold sector,\u201d adding that similar reforms could \u201cplay a key role in boosting Sierra Leone\u2019s economy.\u201d<\/p>\n

He indicated particular interest in Ghana\u2019s measures for licensing, assaying, and traceability, noting that they ensure minerals are properly accounted for and exports generate fair value for the state.<\/p>\n

In response, Mr Gyamfi welcomed the prospect of collaboration, stressing GoldBod\u2019s readiness to share technical expertise, institutional experience, and best practices. He explained that formalising the gold trade through licensing, assaying, and responsible sourcing not only bolsters government oversight but also builds investor confidence.<\/p>\n

Established earlier this year under the GoldBod Act, the institution has the authority to buy, assay, and export gold from licensed artisanal and small-scale miners.<\/p>\n

Its mandate includes reducing illegal flows of gold, increasing foreign exchange earnings, and improving traceability across the gold trade.<\/p>\n

For Sierra Leone, where smuggling and weak regulation have long undermined revenues, the Ghanaian model presents both opportunities and challenges.<\/p>\n

Centralised gold buying could boost state revenue and strengthen anti-money-laundering controls, but experts caution that such a system must balance government oversight with competitive markets and safeguards to protect small-scale miners.<\/p>\n

Both parties agreed to follow up with technical exchanges, with the possibility of signing a memorandum of understanding to define areas of cooperation.<\/p>\n<\/div>\n

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\"SierraSierra Leone\u2019s 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\u2019s gold management framework to reform its mining sector.<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1972,117,10,9,2802,5970,8652],"tags":[],"class_list":["post-94948","post","type-post","status-publish","format-standard","hentry","category-africa","category-news","category-politics","category-popular","category-revenue","category-sierra-leone","category-smuggling"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/94948","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=94948"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/94948\/revisions"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=94948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=94948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=94948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}