The Ghana Gold Board (GoldBod) has announced a major shake-up of the country’s gold trading landscape following the passage of the Ghana Gold Board Act, 2025 (Act 1140).
The new law, which was passed by Parliament on 29th March 2025 and assented to by the President on 2nd April 2025, revokes all licences previously issued by the Precious Minerals Marketing Company (PMMC) and the Minister responsible for Mines, except for those held by large-scale mining companies.
“All licences issued by the PMMC and/or the Minister to a person other than a large-scale mining company to deal in gold have ceased to be valid,” a statement from GoldBod clarified.
Under the new framework, GoldBod is now the sole authorised body permitted to buy, sell, assay, and export gold produced by the Artisanal and Small-Scale Mining (ASM) sector.
The statement stressed: “No person other than the Ghana Gold Board (GoldBod) is permitted to export ASM gold from Ghana.”
Additionally, the statement made clear that no individual or company can purchase or trade in gold unless licensed as a buyer, aggregator, or service provider by GoldBod.
The restructuring, according to GoldBod, is intended to sanitise the local gold market and promote transparency and compliance across the sector.
To ease the transition, GoldBod announced that it will temporarily honour PMMC- and Minister-issued licences until 30th April 2025. During this window, all gold transactions must be conducted in Ghana cedis and priced according to the Bank of Ghana’s Reference Rate.
“All licensed persons or entities buying gold from the local market must do so in Ghana cedis,” the statement directed.
Ghanaian individuals and businesses whose licences have lapsed, along with new entrants, are encouraged to apply for new GoldBod licences starting 22nd April 2025, either online or in person at the GoldBod headquarters in Accra.
In a decisive move, the statement also ordered all foreign nationals to exit the local gold trading market by 30th April 2025. Foreign participants may still apply to purchase gold directly from GoldBod but will no longer be allowed to operate within the domestic gold value chain.
The statement concluded with a stern warning: “It shall constitute a punishable offence for a person to purchase or deal in gold in the country without a licence issued by the Ghana Gold Board, effective 1st May 2025.”