Sierra Leone is assessing Ghana’s gold management model as part of a broader effort to formalise its mining sector and increase state revenues, according to local media.

Finance Minister Sheku Fantamadi Bangura met with Ghana Gold Board Chief Executive Officer Sammy Gyamfi in Accra to examine regulatory and operational mechanisms that could be adapted in Freetown.

The talks centred on Ghana’s licensing, assaying, and traceability systems, which have helped reduce smuggling, improve transparency, and ensure that gold exports deliver fair economic value. Bangura described these measures as an “innovative step to formalise and strengthen the gold sector,” suggesting that similar reforms could significantly bolster Sierra Leone’s fiscal position.

Gyamfi emphasised GoldBod’s role in providing technical support, institutional guidance, and best practices for formalising gold trade. According to him, licensing and responsible sourcing not only enhance government oversight but also create a more predictable environment for investors.

Established under the GoldBod Act earlier this year, the Ghanaian institution has the authority to buy, assay, and export gold from licensed artisanal and small-scale miners. Its mandate includes reducing illegal gold flows, increasing foreign exchange earnings, and improving traceability.

For Sierra Leone, where informal gold trade has historically undermined revenue collection, the Ghanaian approach presents both potential gains and challenges. Centralised purchasing could strengthen government control and anti-money-laundering measures, but experts caution that it must be balanced with competitive market access and protections for small-scale miners.

Both countries have agreed to pursue further technical exchanges and are considering a memorandum of understanding to formalize collaboration in the gold sector.