Ghana’s newly established gold sector regulator, the Ghana GoldBoard (GoldBod), has issued over 300 gold trading licences through its newly launched digital licensing system, a move aimed at formalising and sanitising one of Africa’s largest gold industries.
GoldBod Chief Executive Officer Sammy Gyamfi said the new digital platform is central to the fight against illegal gold trading and smuggling, ensuring transparency, speed, and accountability with minimal human involvement.
“We’ve introduced a seamless, online licensing system. As I speak, we’ve granted over 300 licences without collecting a dime from any applicant, it’s fast, transparent, and entirely corruption-free,” he said.
The licences now mandatory for anyone involved in gold aggregation, buying, refining, smelting, transportation, or jewellery production are part of a sweeping regulatory overhaul under the Ghana GoldBoard Act, 2025 (Act 1140).
The law replaced the Precious Minerals Marketing Company (PMMC) on April 2, 2025, giving GoldBod broad authority to regulate the precious minerals sector and curb illicit activity.
Operating in the gold trade without a valid GoldBod licence now carries severe penalties, including fines ranging from GHS 600,000 to GHS 2.4 million, or imprisonment of five to ten years.
Speaking at the inauguration of the new GoldBod Taskforce on July 8, Mr Gyamfi said the taskforce has been fully resourced to enforce the new regime, and there will be zero tolerance for misconduct.
“With the full backing of the President, we’ve equipped the taskforce with the necessary training and logistics to do their work effectively and without fear. But let me be clear: any abuse of power or unprofessional behaviour will not be tolerated,” he warned.
“We will protect officers who act in good faith, but we will deal decisively with anyone who brings the Gold Board or the government into disrepute,” he added.
