Accra: The Ghana Gold Board (GoldBod) has approved 240 gold licensing applications across all four categories, enabling Ghanaians to engage legally in gold trading within the country. Currently, 123 of these licences have been printed and distributed to the respective individuals and entities.
According to Ghana News Agency, one aggregator licence, three self-financing aggregator licences, 32 tier two buyer licences, and 87 tier one buyer licences have been approved and issued. Mr. Sammy Gyamfi, the Chief Executive Officer of GoldBod, revealed this at a press conference in Accra, updating the media on the Board's licencing regime.
Mr. Gyamfi announced that by the final deadline of June 21, 2025, over 300 applications had been received for Tier 1 Buyer Licences, approximately 200 for Tier 2 Buyer Licences, 30 for Self-Financing Aggregator Licences, and 15 for Aggregator Licences. The Board has commenced full implementation of the new gold trading licencing regime, with measures to combat illegal gold trading and smuggling nationwide.
The enforcement of the Ghana Gold Board Act, 2025 (Act 1140), represents a significant step in the government's agenda to restructure and formalise the gold trading sector for the benefit of the Ghanaian economy. Mr. Gyamfi emphasized that only licensed individuals or entities, approved through the proper process, can legally trade gold in Ghana.
Mr. Gyamfi warned that engaging in gold trading without a licence is a criminal offence under Act 1140, punishable by severe penalties. The Act revokes all previous licences issued by the now-defunct Precious Minerals Marketing Company (PMMC) and the Ministry of Lands and Natural Resources for gold trading.
As part of enforcement efforts, President John Dramani Mahama will officially commission the Gold Board Task Force on July 8, 2025. The Task Force, equipped with police powers, will address gold smuggling, illegal trading, and price manipulation.
Mr. Gyamfi noted that the Task Force would work alongside an intelligence network to monitor illegal gold trading activities, safeguarding national revenue and ensuring Ghana derives maximum benefits from its mineral resources.
He highlighted Section 63 of the Ghana Gold Board Act, underscoring that trading gold without a valid licence is prosecutable, with penalties including fines and imprisonment. Mr. Gyamfi assured that while the deadline has passed, applications for licences remain open. However, unlicensed individuals or businesses must refrain from gold trading until licensed.
To enhance transparency, the Ghana Gold Board has digitised the application process. Approved applicants receive notifications via email and their online accounts, with licence fees payable through the Ghana.gov platform. Mr. Gyamfi urged stakeholders to comply with the new regime to avoid prosecution and support responsible gold trading practices that benefit Ghana's economy.
