The Acting Chief Executive Officer of Goldbod, Mr. Sammy Gyamfi, has announced that the grace period for gold traders to regularize their operations has officially ended.
With immediate effect, Ghana’s new gold licensing regime has come into full force “You can no longer buy or sell gold in Ghana without a license from Goldbod.
If you are not licensed, you are engaging in illegality, and the law will take its course,” Mr. Gyamfi emphasized at a press briefing.
He stated that the new legal framework aims to maximize the benefits Ghana derives from its natural gold resources, while clamping down on illegal trade and smuggling.
“All stakeholders must abide by the rules. We are not out to witch-hunt anyone, but the whip will be cracked where there is non-compliance,” he warned.
Goldbod has so far approved 240 applications from across the four licensing categories, ahead of the June 26th deadline.
All licenses issued are valid for 12 months, and the regime is expected to ensure transparency, accountability, and efficiency in Ghana’s gold trade sector.
Mr. Gyamfi revealed that Ghana has exported over 50 tonnes of gold within the past year alone. However, he expressed deep concern over the persistent issue of illegal gold trading, describing it as a “cancer” threatening the sector.
“Illegal gold trading is eating into the soul of our gold industry. It must stop. We are putting in place a taskforce to intensify the fight against gold smuggling,” he said.
He urged the public and media to help sensitize gold traders and dealers on the need to acquire proper licenses through Goldbod and comply with the new legal provisions.
“Do the needful. In the spirit of fairness and legality, register with Goldbod. Help us build a responsible, law-abiding gold trade ecosystem in Ghana,” Mr. Gyamfi concluded.
