By Iman Abdulai
The Ghana Gold Board (GoldBod) has approved approximately 240 gold buying licenses following the expiration of its June 21, 2025, transition deadline. According to the Chief Executive Officer of GoldBod, Sammy Gyamfi, the board received over 300 applications for Buyer Licence Tier One, about 200 applications for Buyer Licence Tier Two, and 30 applications for the Self-Financing Aggregator category.
New Licensing Regime
The approvals mark a critical step in enforcing the new gold licensing regime aimed at improving transparency, accountability, and regulatory compliance across the sector. Gyamfi emphasized that going forward, only entities with valid GoldBod-issued licenses will be allowed to engage in gold trading activities.
Enforcement and Penalties
The GoldBod will intensify enforcement to clamp down on unlicensed operations in line with the Ghana Gold Board Act, 2025 (Act 1140). Individuals or entities trading gold without a valid Gold Board license face prosecution, with penalties including heavy fines and custodial sentences.
License Application Process
The application process for new gold trading licenses remains open, and applicants receive notifications via email and their online accounts once their licenses are approved. License fees are payable through the (link unavailable) platform.
Key Highlights
– Approved Licenses: 240 licenses approved, with 123 printed and issued
– License Categories: Tier 1 Buyer Licences, Tier 2 Buyer Licences, Self-Financing Aggregator Licences
– Deadline: June 21, 2025, transition deadline for gold trading licenses
– Penalties: Heavy fines and custodial sentences for unlicensed gold trading activities
The Ghana Gold Board’s new licensing regime aims to promote responsible gold trading practices, transparency, and accountability in the sector. The board’s enforcement efforts will ensure that only licensed entities engage in gold trading activities, ultimately benefiting Ghana’s economy.
