The Ghana Gold Board (GoldBod) has officially commenced the licensing of service providers within the country’s gold trading sector.
Commencement of the licensing marks a significant step in the government’s efforts to regulate and formalize the industry.
The licensing initiative, which begins today, was announced in a statement issued by the GoldBod’s Media Relations Officer, Prince Kwame Minkah.
Effective immediately, Ghanaian individuals aged 18 and above, as well as wholly-owned Ghanaian companies, are eligible to apply for licenses through GoldBod’s online portal goldbod.gov.gh or in person at its main office in Accra.
The categories of licenses currently open for application include:
- Aggregator License
- Self-financing Aggregator License
- Buyer License (Tier 2)
- Buyer License (Tier 1)
Additional categories, such as Refining, Smelting, Fabrication, Storage, Transportation, and Importation Licenses, will become available starting in July 2025.
GoldBod emphasized that all applicants must read, understand, and accept the Terms and Conditions associated with each license before submission.
Detailed information on licensing procedures, operational guidelines, and regulatory policies is accessible on the organization’s official website.
In a firm reminder of its regulatory mandate, the Board reiterated its earlier directive requiring all foreign entities to exit Ghana’s local gold trading market by April 30, 2025.
This move is backed by the Ghana GoldBod Act, 2025 (ACT 1140), and violators will be subject to legal penalties.
Foreigners, however, may still apply to off-take gold directly from GoldBod under regulated conditions.
The GoldBod also reaffirmed that all gold transactions must align with the official Bank of Ghana (BoG) Reference Rate, available at www.bog.gov.gh, as part of its commitment to promoting transparency and standardization in the industry.
This initiative is part of broader reforms to restructure and streamline the gold trading ecosystem in Ghana, with the overarching goal of optimizing national revenue and ensuring equitable benefits for citizens.
“We look forward to working collaboratively with stakeholders to bring greater order, efficiency, and accountability to Ghana’s gold sector,” said Minkah.
“The success of this initiative depends on the full cooperation of the public, and we remain committed to prioritizing their feedback,” he added.