The Ghana Gold Board (GoldBod) has announced a comprehensive restructuring of the nation’s gold trading system following the enactment of the Ghana Gold Board Act (Act 1140) in 2025. This new legislation, passed by Parliament on March 29 and assented to by the President on April 2, revokes all gold trading licences previously issued by the Precious Minerals Marketing Company (PMMC) and the Minister responsible for Mines, except those granted to large-scale mining companies.
Under the new framework, GoldBod is designated as the sole authority for buying, selling, assaying, and exporting gold produced by the Artisanal and Small-Scale Mining (ASM) sector. The agency emphasized that no individual or entity, other than GoldBod, is permitted to export ASM gold from Ghana. Additionally, only licensed buyers, aggregators, or service providers authorized by GoldBod are allowed to purchase or trade in gold.
To facilitate a smooth transition, GoldBod will temporarily honor existing PMMC and ministerial licences until April 30, 2025. During this period, all gold transactions must be conducted in Ghana cedis and priced according to the Bank of Ghana’s Reference Rate. Ghanaian individuals or entities with expired licences, as well as new entrants to the gold trade, are encouraged to apply for a GoldBod licence starting April 22, 2025, either online or in person at GoldBod’s headquarters in Accra.
In a decisive move, the agency has mandated that all foreign nationals exit the local gold trading market by April 30, 2025. While foreigners may still apply to purchase gold directly from GoldBod, they are no longer permitted to operate within the local gold value chain. Effective May 1, 2025, it will be a punishable offense for any person to purchase or deal in gold in Ghana without a licence issued by GoldBod.
This overhaul aims to sanitize the local gold market, enhance transparency, and ensure compliance within the sector. By centralizing more gold trade under a single authority, the government seeks to curb illegal activities, improve revenue collection, and bolster investor confidence in Ghana’s gold industry.
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