In a bold move to protect local interests and curb illegal mining activities, the Government of Ghana has officially banned foreigners from participating in the local gold trading market. The decision, announced by the Ministry of Lands and Natural Resources, is intended to reclaim control of Ghana’s mineral wealth and ensure that gold trading directly benefits Ghanaians.
The new directive targets foreigners who operate as middlemen, buyers, or small-scale traders within Ghana’s domestic gold supply chain. According to the ministry, their involvement has led to unfair competition, capital flight, and increasing cases of gold smuggling. The government believes that restricting the sector to locals will promote transparency, increase revenue, and strengthen regulation.
Speaking at a press briefing in Accra, the Minister for Lands and Natural Resources explained that the policy is not anti-foreign investment but is focused on empowering Ghanaians within the artisanal and small-scale mining (ASM) sector. “We welcome foreign investors in large-scale mining operations, but the local gold trade must be reserved for our people,” he stated.
This move has been applauded by local mining associations and traditional leaders in mining communities. Many believe that it will reduce exploitation by foreign traders, particularly from countries such as China and India, and help create more opportunities for Ghanaian youth.
However, some critics have expressed concerns about enforcement. In the past, similar policies have failed due to weak regulatory oversight and corruption. Authorities now promise stricter monitoring, with task forces set up in major mining towns to ensure compliance.
The Ghana Immigration Service and other security agencies are also expected to step up efforts to identify and deport foreign nationals engaging illegally in the gold trade.
The government is additionally working on reforms to improve access to finance and technical support for Ghanaian gold traders. By formalizing the sector, officials hope to eliminate black market activities and maximize the economic potential of Ghana’s gold industry.
With Ghana being one of the top gold producers in Africa, the decision marks a turning point in how the country manages its resources. Citizens are hopeful that the move will preserve national wealth, reduce illegal mining (galamsey), and foster local development.
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