The Ghana Gold Board (GoldBod) has cracked whip on Dominic Bonsu Ventures, suspending the company’s gold trading licence with immediate effect over alleged breaches of the country’s gold trading regulations.
The regulatory action means Dominic Bonsu Ventures has been barred from engaging in any form of gold trading, including purchasing, selling, aggregating and transporting the precious mineral, until further notice.
According to a notice issued by GoldBod’s Compliance Directorate, the suspension followed the Board’s determination that the company had breached the terms and conditions attached to its licence, GoldBod’s trading directives and provisions of the Ghana Gold Board Act, 2025 (Act 1140).
The development has taken a further legal turn, with GoldBod disclosing that the proprietor of Dominic Bonsu Ventures is being sought in connection with ongoing enforcement proceedings.
According to the Board, the High Court in Accra, following an application by GoldBod, has issued a bench warrant for the arrest of the proprietor to facilitate the ongoing enforcement process and related criminal proceedings.
GoldBod said it is collaborating with the appropriate law enforcement agencies to execute the warrant.
The Board has consequently ordered Dominic Bonsu Ventures to immediately cease all activities connected with the gold business for the duration of the suspension.
The directive covers the purchase, sale, aggregation and transportation of gold, as well as any other transactions involving the commodity.
The regulatory action does not end with the company.
GoldBod has also directed every licensed gold buyer, aggregator, self-financing aggregator and miner operating within the gold industry to immediately discontinue commercial dealings with Dominic Bonsu Ventures.
The Board warned that individuals or companies that continue to facilitate or undertake gold transactions with the suspended company risk enforcement and regulatory action under the Ghana Gold Board Act, 2025.
GoldBod maintained that the suspension forms part of its wider efforts to ensure strict compliance with the legislation, licensing conditions and trading directives governing the gold industry.
The latest enforcement action comes against the backdrop of significant reforms to the gold trading architecture following the establishment of the Ghana Gold Board.
The GoldBod framework was introduced to strengthen state oversight of the gold industry, improve transparency in gold purchases and exports, curb illegal trading and smuggling, and ensure that Ghana derives greater economic benefits from its mineral resources.
Under the Ghana Gold Board Act, 2025 (Act 1140), operators within the regulated gold trading market are required to comply with licensing and operational requirements established by the Board.
GoldBod has increasingly stressed that holding a licence does not exempt an operator from subsequent regulatory scrutiny and that licences may be subjected to enforcement action where operators are found to have violated applicable requirements.
In the Dominic Bonsu Ventures case, however, the notice does not provide detailed particulars of the specific transactions or conduct that allegedly constituted the regulatory breaches.
The Board nevertheless said its intervention was necessary to protect the integrity and orderly operation of the gold trading regime.
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