The Ghana Gold Board (GoldBod) has officially commenced the licensing of service providers in the gold trading sector, marking a major step in its mandate to restructure and regulate the industry.
In an official statement released on April 23, 2025, GoldBod announced that Ghanaian individuals aged 18 and above, as well as fully-owned Ghanaian companies, are eligible to apply for licenses. Applications can be submitted online via the GoldBod website or in person at the Licensing and Regulations Office at the organization’s headquarters in Accra.
The available licenses, effective immediately, include Aggregator License, Self-financing Aggregator License, Buyer License (Tier 2), and Buyer License (Tier 1). Additional licenses for refining, smelting, fabrication, storage, transportation, and importation will be available starting July 2025.
This licensing initiative follows the passage of the Ghana Gold Board Act, 2025 (Act 1140), which was signed into law on April 2, 2025. The Act establishes GoldBod as the sole entity authorized to buy, sell, assay, and export gold produced by licensed small-scale miners in Ghana.
As part of the new regulatory framework, all previous licenses issued by the Precious Minerals Marketing Company (PMMC) or the Minister responsible for Mines, excluding those granted to large-scale mining companies, are no longer valid. The board earlier stated that effective May 1, 2025, it will be an offense for any foreign person or entity to purchase or deal in gold in Ghana without a valid license issued by GoldBod.
The licensing regime is part of broader reforms to clean up the gold trade, curb smuggling, and increase Ghana’s gold-derived revenue. In 2024, the country exported $11.64 billion worth of gold, with nearly $5 billion attributed to the small-scale mining sector. Authorities hope that with a more transparent and centralized framework, the country can maximize gains from its gold value chain, from extraction to refining and export.
GoldBod has also mandated that all foreigners exit the local gold trading market by April 30, 2025. However, foreign entities may apply to purchase gold directly from GoldBod, ensuring compliance with the new regulations.
