The Ghana Gold Board (GoldBod) has issued a stern warning to individuals and businesses engaged in the buying and selling of gold without a valid GoldBod license.
According to the Chief Executive Officer of GoldBod, Sammy Gyamfi, any person found operating outside the new licensing framework will face a minimum of five years and up to ten years’ imprisonment under the Ghana Gold Board Act, 2025 (Act 1140).
He therefore admonished all persons not to engage in illegalities.
A strict deadline of June 21 was set for all gold dealers to transition to the new GoldBod licensing system. From this point forward, licenses previously issued by the Precious Minerals Marketing Company (PMMC) or the Ministry of Lands and Natural Resources are no longer recognized for gold trading.
To facilitate compliance, the GoldBod online registration portal remains open, allowing individuals and companies involved in the gold trade to apply for a valid license.
The GoldBod Chief Executive Officer stated that, in a move to enforce the new mandate, the Board—working in collaboration with President John Mahama—will inaugurate a newly formed task force.
This unit will be responsible for nationwide compliance enforcement and will be equipped with body cameras and GPS trackers, all monitored from the GoldBod headquarters to ensure transparency and accountability.
“Gold dealers are strongly advised to regularize their operations to avoid legal consequences,” Mr. Gyamfi said.
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