The Ghana Gold Board (GoldBod) has announced the immediate suspension of applications for selected categories of gold buying licences, signalling the start of a strategic reform process aimed at overhauling and strengthening the country’s gold trading regime.
In a statement signed by the Chief Executive Officer (CEO) of the Ghana Gold Board, Samuel Gyamfi, the Board indicated that the suspension takes effect immediately and applies to new applications for Tier 1 and Tier 2 gold buying licences, as well as the Self-Financing Aggregator Licence.
During the suspension period, only applications for the Aggregator Licence will remain open to new entrants.
The Board clarified that applications submitted prior to the announcement will not be affected by the directive.
According to the statement, all pending applications that meet the necessary regulatory requirements and have fulfilled the relevant fee obligations will continue to be processed and, where appropriate, expedited.
GoldBod explained that the directive forms part of broader measures to facilitate impending reforms to Ghana’s national gold buying framework.
The reforms are designed to enhance transparency within the sector, improve regulatory compliance, strengthen traceability of gold transactions and ensure greater value retention within the domestic gold trading ecosystem.
“The directive is part of broader measures to facilitate impending reforms to the national gold buying framework,” the statement noted, underscoring the Board’s intention to realign the licensing regime with evolving regulatory and market demands.
Industry observers say the move reflects growing efforts by authorities to tighten oversight across the gold value chain, particularly at a time when Ghana is seeking to maximise returns from its mineral resources and curb leakages within the sector.
Gold remains one of Ghana’s leading foreign exchange earners, making reforms in the trading regime critical to safeguarding national revenue.
GoldBod further reiterated its commitment to working collaboratively with stakeholders across the gold value chain, including buyers, aggregators, exporters and regulators, to establish what it described as a robust, accountable and internationally competitive gold trading system that protects national interests.
The Board assured industry players that additional updates on the reform process and details of the revised licensing framework will be communicated in due course.
Stakeholders have therefore been urged to comply with the new directive and await further guidance as the restructuring exercise unfolds.
The suspension forms part of ongoing government efforts to modernise Ghana’s gold sector and position it as a transparent, competitive and well-regulated industry that delivers sustainable benefits to the national economy and host communities.
