The Ghana Gold Board Act, 2025 (Act 1140) reshaped the country’s gold trade. Parliament passed it in an overnight sitting that ended on 29 March 2025, and the President assented on 2 April 2025, creating the Ghana Gold Board (GoldBod).
GoldBod’s role
GoldBod is the sole buyer, seller, assayer and exporter of gold produced by the licensed artisanal and small-scale mining (ASM) sector. Large-scale mining companies continue to export their own production.
What changed for traders
- Licences issued by the PMMC or the Minister to anyone other than large-scale mining companies to deal in gold ceased to be valid. Holders could keep trading until 30 April 2025.
- Foreigners had to exit local gold trading by 30 April 2025. They may apply to GoldBod to buy or off-take gold directly from it.
- From 1 May 2025, buying or dealing in gold without a GoldBod licence is an offence.
- Licensed buyers must pay in Ghana cedis, at prices based on the Bank of Ghana reference rate, and follow GoldBod’s official prices.
Licence categories
Licences open for application include the Aggregator Licence, Self-Financing Aggregator Licence, Buyer Licence (Tier 1) and Buyer Licence (Tier 2). The Act also provides for other categories, including refining, storage, transport and smelting.
Tier 1 Buyer Licence at a glance
- Who: a Ghanaian or a wholly Ghanaian-owned company.
- Purpose: buying gold from miners with your own funds, for resale to a licensed Tier 2 buyer.
- Capital: proof of at least GH₵50,000 working capital and GH₵50,000 trade capital.
- Fees reported: GH₵1,000 application, GH₵10,000 licence, GH₵7,000 annual renewal.
- Conditions: 12-month validity, approved operating areas only, official prices, receipts and monthly reports, records kept for at least five years, and anti-money-laundering due diligence.
Later changes
Since 1 September 2026, doré bought by self-financing aggregators under approved off-take arrangements must be refined at a GoldBod-approved refinery in Ghana before export.
Fees and requirements can change. Confirm current terms with GoldBod before applying.
Sources
- Graphic Online: GoldBod statement (14 April 2025)
- Mondaq: How to acquire a Gold Buyer Licence (Tier 1)
- Mining Weekly (Reuters): local refining requirement
This article is for information only and is not legal, tax or investment advice. Rules and figures change; confirm the current position with the relevant authority or a qualified adviser before acting. Image: illustration (AI-generated).
