Goldbod, Ghana’s statutory gold regulatory authority, has announced significant progress in the enforcement of its new gold trading regime.
As of the June 21st deadline, over 300 applications were received for Tier One Gold Buyer Licenses. Out of these, the Goldbod Board and Management have approved more than 240 licenses.
The announcement was made by the Acting Chief Executive Officer of Goldbod, Mr. Sammy Gyamfi, during a press briefing held earlier today in Accra.
According to Mr. Gyamfi, Goldbod has already exported nearly 50 tonnes of gold, a testament to the growing impact and efficiency of the new regulatory framework.
“You cannot engage in gold trading if Goldbod has not given you a license to operate,” the Acting CEO emphasized. “Flaunting this critical legal provision is a serious offense under Section 63 of Act 140, the Goldbod Act of 2025.”
The law explicitly states:
“A person shall not buy gold from a person in the country unless that person has been issued with a license by the Goldbod.”
Those who breach this provision risk facing a summary conviction with a jail term of 5 to 10 years.
To ensure strict enforcement, President John Dramani Mahama will inaugurate the Goldbod Taskforce on July 8, 2025.
This dedicated team will be responsible for monitoring, enforcement, and compliance across the gold value chain.
Goldbod has urged all stakeholders and actors in the gold trade to regularize their operations under the new legal framework to avoid sanctions.
The new licensing regime, Mr. Gyamfi noted, is part of broader efforts to maximize the benefits of Ghana’s natural resources while eliminating illegal and unregulated activities in the sector.
