The Ghana Gold Board (GoldBod) has once again reminded foreign entities in the local gold trading sector of the April 30, 2025 deadline to cease operations, as mandated by the Ghana Gold Board Act, 2025 (Act 1140). This directive, according to the government, aims to restructure the gold market and ensure the country reaps the full benefits from its gold trade.
The statement reiterated that, effective May 1, 2025, it will be an offense for any foreigner to engage in the purchase or sale of gold in Ghana without a valid license issued by GoldBod.
While foreign entities are required to exit the local gold trading market by April 30, 2025, the statement clarified that foreign buyers can still engage with GoldBod directly for gold purchases. This avenue ensures that international players remain part of the gold value chain, but only under the oversight of Ghana’s newly restructured regulatory framework.
GoldBod emphasized that this policy, alongside the comprehensive licensing program for local service providers, is part of a broader effort to clean up Ghana’s gold trade, tackle smuggling, and enhance the country’s gold-derived revenue. The licensing initiative, which is now in effect, includes licenses for aggregators and buyers, and will soon extend to refining, smelting, fabrication, and other related services.
