The Ghana Gold Board (GoldBod) has approved approximately 240 gold buying licences following the expiration of its transition deadline on June 21, 2025, as part of sweeping reforms to improve transparency, accountability, and compliance in the gold trading sector.
Announcing the development at a press conference in Accra on Monday, June 30, Sammy Gyamfi, Chief Executive Officer of GoldBod, said the approvals are a significant milestone in the implementation of the Ghana Gold Board Act, 2025 (Act 1140), which mandates all gold trading activities to be conducted under valid licences issued by the Board.
Breakdown of Applications
Gyamfi revealed that the Board received:
- Over 300 applications for the Buyer Licence Tier One category,
- About 200 applications for Buyer Licence Tier Two, and
- 30 applications for the Self-Financing Aggregator category.
“The management, with the approval of the board, has approved 240 licenses… When we receive confirmation of payment, we process your license, print it, and go through the audit verification process. 123 have been printed and issued so far,” he stated.
Enforcement and Compliance
The GoldBod CEO emphasized that strict enforcement of the licensing regime will begin immediately. All individuals and businesses operating without valid GoldBod-issued licences will be sanctioned in accordance with the provisions of the new law.
“Going forward, only entities with valid licences from the Ghana Gold Board will be allowed to operate in the gold buying space. We will clamp down on unlicensed operations,” he warned.
The enforcement drive aims to tackle illegal gold trading and enhance monitoring of transactions, traceability, and fiscal accountability in the sector, which is vital to Ghana’s economy.
Sector Reform and Revenue Protection
The new gold licensing regime forms part of a broader government strategy to formalize the artisanal and small-scale mining (ASM) sector, combat smuggling, and improve domestic gold revenue mobilisation.
Stakeholders have welcomed the initiative, describing it as a step towards sanitising the gold value chain and protecting Ghana’s natural resources from exploitation.
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