Sammy Gyamfi -Acting Managing Director ofPrecious Mineral Marketing Company
The Ghana Gold Board (GoldBod) has announced that it will start licensing Ghana gold trading service companies on May 1, 2025.
This action is a component of a larger regulatory reform that aims to increase government revenue from the gold trade and streamline the industry.
GoldBod will be the only entity permitted to purchase, sell, assay, and export gold generated by Ghanaian small-scale miners who have been granted licenses under the new rules.
The Precious Minerals Marketing Company (PMMC) has revoked all of its prior export licenses.
By April 30, 2025, foreign organizations must leave the domestic gold trading market. They can still apply to buy gold straight from GoldBod, though.
Ghana established GoldBod as part of its plan to strengthen regulatory control, raise government revenue from gold exports, and deal with the problem of illicit gold mining, or “galamsey” as it is known locally.
It is anticipated that GoldBod’s operations will increase foreign exchange reserves and decrease gold smuggling, according to Finance Minister Dr. Cassiel Ato Forson.
Getting a license from GoldBod will be crucial for anyone looking to work in Ghana’s gold trading industry.
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