Beginning May 1, 2025, anyone buying or trading gold in Ghana without a valid license from the Ghana Gold Board (GoldBod) will be committing a criminal offense, according to an April 14, 2025 announcement by the Boar
Under the newly enacted Ghana Gold Board Act (Act 1140) of 2025, the Ghana Gold Board (GoldBod) has mandated that all gold transactions in the local market be carried out in Ghana cedis, using the Bank of Ghana’s Reference Rate as posted on the central bank’s official website.
GoldBod stated that this move aims to promote transparency, stabilize gold pricing, and curb illegal foreign currency activities in the artisanal and small-scale mining sector.
Additionally, with these new regulations, GoldBod now holds exclusive authority over the buying, selling, assaying, and exporting of gold from Ghana’s licensed Artisanal and Small-Scale Mining (ASM) operations.
Under the new Act, all licenses that were previously granted by the Precious Minerals Marketing Company (PMMC) or the Minister responsible for Mines to entities operating outside of the large-scale mining sector have been rendered invalid.
A transitional period has been provided until April 30, 2025, allowing holders of previously valid licenses to conclude their operations. However, the Ghana Gold Board has firmly warned that starting May 1, 2025, anyone found trading gold without a license issued by GoldBod will be subject to legal prosecution.
The Ghana Gold Board has also ordered that all foreign nationals involved in the local gold trading market must withdraw from the sector by April 30, 2025.
The statement further noted that while all foreigners must exit the local gold trading market by April 30, 2025, foreign entities may still be eligible to purchase gold directly from GoldBod, provided they meet certain specified conditions.
The Board also revealed that starting April 22, 2025, new license applications will be open exclusively to Ghanaians and wholly Ghanaian-owned companies. Applications can be submitted either online or in person at GoldBod’s head office in Accra.
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