The Ghana Gold Board (GoldBod) has warned that purchasing and exporting gold by foreigners will be a crime in Ghana, effective Thursday, May 1, 2025.
The Board says that, following the passage of the Ghana GoldBod Act 2025, all foreigners were given an April 30, 2025 deadline to cease purchasing gold from small-scale miners and exporting it.
“If you are a foreigner and you are found to be buying gold in the local market tomorrow (Thursday, May 1, 2025), or selling gold, or to be dealing in gold in any shape or form, you are committing an offence. You are committing a crime,” Acting Managing Director of the GoldBod, Sammy Gyamfi, indicated at a press conference with the media.
He explained that whoever falls foul to the deadline “will be arrested if caught, and you will be prosecuted in accordance with law.”
“And that is why we thought it necessary not only to issue a press release, but to call this press briefing, so
The private legal practitioner explained further that even though “ignorance of the law is no excuse”, GoldBod does not take delight in “arresting, detaining and prosecuting anybody and that is why we want to give everybody the benefit of the doubt. We want to give everybody ample notice.”
“And so, we are using this medium to remind all foreigners in the local gold trading sector that the deadline for them to exit the sector is today, 30th April 2025,” he reemphasised.
Meanwhile, the GoldBod Acting MD disclosed that the new law doesn’t bar foreigners from trading in gold. He explained that they can do so, but must comply with the law, which requires them to obtain permission from the GoldBod.
“You can apply to the GoldBod as a foreigner to buy gold from Ghana through the GoldBod. So foreigners are allowed to be off takers. So don’t get us wrong. We are not saying that foreigners cannot buy gold from Ghana. If you are a foreigner, you are allowed to buy gold from Ghana. But we are saying you can’t go to Tarkwa, Prestia or Kumasi and set up an office and buy gold from miners or traders. No,” Sammy Gyamfi reiterated.
He clarified that when such foreigners apply through the GoldBod and are granted a license to purchase, the Ghana government will itself arrange transportation to their home countries, rather than them exporting it themselves.
“Come to the government’s representative, which is the Ghana GoldBod. Apply, negotiate, and buy the gold directly from us. And we will ship the gold to your country or wherever you want us to ship the gold to,” he added.
Meanwhile, indigenous gold dealers have been given a three-week extension to renew their licenses, as many have not commenced the process at all, while others’ applications are still pending.
GoldBod extends licence application deadline for Ghanaian gold dealers by 3 weeks
