31/08/2026
Zambian government officially adopts Sammy Gyamfi’s GOLDBOD Operational Model to curb the rise of illegal gold trading and informal gold dealings 📌 📌 📌
The Zambian government has announced plans to tighten regulation of gold trading and processing in a bid to curb leakages and maximise revenue from the sector.
Ministry of Mines and Minerals Development Permanent Secretary, Dr. Hapenga Kabeta, said the new measures will require all companies involved in downstream gold activities to obtain separate licences under a revised regulatory framework.
Under the proposed system, all gold mined in the country will be sold to one designated entity, ending the current practice where multiple buyers and dealers operate independently.
The Permanent Secretary warned that dealing in gold without the required licence is an offence and could lead to arrest and prosecution.
He stated that the reforms were intended to address challenges of smuggling, under-declaration and revenue losses that have affected the sector for years.
Kabeta noted that a centralised purchasing system through the Bank of Zambia will also improve traceability and help Zambia meet international standards on responsible sourcing.