GoldBod begins licensing of gold trading service providers in Ghana

• Posted on April 23, 2025April 23, 2025
• by Nana Kwesi Coomson
• Comment

The Ghana Gold Board (GoldBod) has officially begun licensing service providers in the gold trading sector, starting today, Wednesday, 23 April 2025.

In a public statement released on Wednesday, GoldBod announced that Ghanaians aged 18 and above, as well as fully-owned Ghanaian companies, are now eligible to apply for various categories of licenses.

These applications can be made online via the GoldBod website at goldbod.gov.gh or in person at the organisation’s main office in Accra.

According to the statement, “The categories of licenses that can be applied for effective immediately are as follows: Aggregator license, Self-financing Aggregator license, Buyer license (Tier 2), Buyer license (Tier 1).”

Further categories, including refining, smelting, fabrication, storage, transportation, and importation licenses, will be made available for application starting in July 2025.

The GoldBod also stressed the importance of understanding the legal requirements involved. “An applicant must carefully read, understand and accept the terms and conditions of a license before proceeding to apply for the same,” the statement advised.

The GoldBod reiterated a previous directive for all foreigners to exit the local gold trading market by 30 April 2025. “A breach of this directive shall constitute a punishable offense under the Ghana GoldBod Act, 2025 (ACT 1140),” the Board warned. However, foreigners may still apply to off-take gold directly from the GoldBod.

The regulatory body also emphasised that all gold transactions must now be conducted using the official Bank of Ghana Reference Rate, available at bog.gov.gh.

“The GoldBod reiterates its earlier directive for all gold traders to buy and/or sell gold at the official Bank of Ghana (BoG) Reference Rate,” the statement added.

As the Board looks forward to restructuring the sector, it calls on all stakeholders for their full cooperation. “The GoldBod looks forward to working with all stakeholders to restructure and streamline the gold trading sector to optimise national benefits,” the release concluded.