The Ghana Gold Board (Goldbod) has approved the application of over 240 individuals and businesses to officially trade in gold after meeting the new criteria from the Board’s licensing regime, as of the final registration deadline of June 21, 2025.
This follows the receipt of over 300 applications for Tier 1 Buyer Licenses, approximately 200 applications for Tier 2 Buyer Licenses, 30 applications for Self-Financing Aggregator Licenses, and 15 applications for Aggregator Licenses.
According to the Goldbod CEO, Sammy Gyamfi, who made the disclosure during a press briefing in Accra on Monday, June 30, 2025, stakeholders can still apply for the licences, which he said remain open on a rolling basis.
He, however, cautioned individuals or businesses without the new Ghana Gold Board licence to desist from gold trading activities until they have obtained the appropriate licences.
To streamline its operations and promote transparency, the Board has digitised the entire application process where approved applicants are notified through their email and online accounts, with licence fees payable through the Ghana.gov platform.
Mr. Gyamfi cautioned that businesses or individuals who indulge in trading in gold activities without the requisite licensing from the Ghana Gold Board will face legal consequences, including heavy fines and custodial sentencing, as stated in Section 63 of the Ghana Gold Board Act.
“A person who contravenes the law commits an offence and is liable on summary conviction to a fine of not less than 50,000 penalty units and not more than 200,000 penalty units or to a term of imprisonment of not less than five years and not more than ten years, or both,” he explained.
His caution followed the announcement of the full implementation of the new gold trading licensing regime, with stringent measures to clamp down on illegal gold trading and smuggling across the country.
The enforcement of the Ghana Gold Board Act, 2025 (Act 1140), marks a significant step in the government’s agenda to restructure and formalise the gold trading sector for the benefit of the Ghanaian economy.
The Goldbod CEO emphasised that only individuals or entities that have secured licenses through the approved process can legally trade gold in Ghana.
“The new gold board licensing regime has taken full effect. What this means is simple — only Ghanaians who have gone through the due process and have been issued with a licence by the Ghana Gold Board can legally engage in gold trading in Ghana,” he further averred.
He warned that engaging in gold trading without the required license constitutes a criminal offence under Act 1140, carrying severe penalties.
“If you are not licensed by the Ghana Gold Board, you are committing a crime if you buy gold or engage in any form of gold trading,” he stressed.
The Act explicitly revokes all previous licences issued by the defunct Precious Minerals Marketing Company (PMMC) and the Ministry of Lands and Natural Resources for gold trading purposes. Mr. Gyamfi underscored that the era of operating under outdated licences has come to an end.
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