In a landmark shift aimed at overhauling Ghana’s gold trade, the newly passed Ghana Gold Board Act (Act 1140), 2025, has granted the Ghana Gold Board (GoldBod) exclusive authority over the buying, selling, and exporting of gold from the Artisanal and Small-Scale Mining (ASM) sector.
The legislation, which was passed by Parliament on March 29 and signed into law by the President on April 2, effectively nullifies all gold trading licences previously issued by the Precious Minerals Marketing Company (PMMC) and the Minister responsible for Mines—except for those held by large-scale mining companies.
In a bold statement released over the weekend, GoldBod announced that it is now the sole legal entity permitted to conduct ASM gold transactions in the country. “No person other than the Ghana Gold Board is permitted to export ASM gold from Ghana,” the statement said, underscoring a new era of centralized control.
The restructuring aims to clean up the local gold trade, reduce smuggling, and introduce higher levels of transparency and regulatory oversight in an industry long criticized for its opacity and informal operations.
Until April 30, GoldBod will temporarily recognize PMMC and Ministerial licences while it transitions fully into its new role. During this grace period, all transactions must be carried out in Ghana cedis and pegged to the Bank of Ghana’s official reference rate.
From May 1, operating in the gold trade without a valid GoldBod-issued licence will constitute a criminal offence.
The move also targets foreign actors, with a clear ultimatum: all foreigners currently participating in local gold trading must exit the market by April 30. While they can still purchase gold directly from GoldBod, their role in the domestic value chain has effectively been terminated.
Ghanaian individuals and companies with expired licences—and prospective market entrants—can begin applying for new GoldBod authorisations starting April 22, either online or at the Board’s Accra headquarters.
Industry watchers have described the development as a bold regulatory reset that could bring greater order and accountability to one of Ghana’s most critical export sectors.
