Editor’s Note
Ghana has announced plans to reform its diamond sector as part of a broader strategy to increase its role in the global precious minerals market. The declaration was made at the Kimberley Process meeting in Dubai.
Ghana has signaled its readiness to deepen engagement in the global precious minerals market, with officials linking diamond sector reform to the country’s broader economic ambitions at the Kimberley Process Ministerial Meeting in Dubai.
Sammy Gyamfi, Chief Executive Officer of the Ghana Gold Board (GoldBod), delivered remarks emphasizing ethics and governance while highlighting the economic implications of regulatory reform.
He cautioned, underlining that Ghana views reform as both a political and economic necessity.
The CEO urged participants to move beyond procedural delays, stating this. He called on members to “take steps, however modest, to strengthen the credibility, relevance and moral authority of this Process.”
Ghana’s approach balances reform with pragmatism. Mr. Gyamfi encouraged fellow members to “focus on areas of convergence, listen carefully, and pursue solutions that protect vulnerable populations while safeguarding legitimate trade.” This positions Ghana as a responsible partner that recognizes the economic value of regulated diamond trade and the reputational risks of weak oversight.
Ghana’s diamond sector remains largely artisanal, and government has not announced major state investments into large-scale diamond mining. Instead, its engagement focuses on regulatory and policy frameworks. By advocating for stronger oversight under the Kimberley Process, Ghana aims to establish more ethical and traceable diamond production, an important signal to environmental, social and governance (ESG) sensitive investors and international buyers.
This strategy positions Ghana to attract investment, capture greater value from its diamond resources, and protect both its reputation and revenue streams. The country leverages its success in centralizing and formalizing gold exports through GoldBod to build credibility when advocating for similar diamond reforms.
While diamonds currently play a more modest economic role compared to gold, government has implemented sweeping reforms in the gold sector. Through GoldBod and the Precious Minerals Marketing Company (PMMC), Ghana generated $8.06 billion in foreign exchange from small-scale gold exports between January and October 15, 2025.
Officials credit this surge to tighter regulation, improved traceability, and stronger compliance measures. GoldBod’s impact extends to Ghana’s macroeconomic stability, with foreign exchange inflows from gold helping boost the country’s reserves. The Bank of Ghana has acknowledged GoldBod’s role in rebuilding reserves following previous crises.
The Kimberley Process is an international certification scheme designed to prevent conflict diamonds from entering the mainstream rough diamond market. Ghana’s active participation reflects its strategic interest in ensuring that its minerals sector meets international standards while maximizing economic returns.
By demonstrating success in gold sector formalization, Ghana presents itself as a credible voice for precious minerals governance reform across the continent.