GoldBod halts new gold buying licence applications to boost transparency and compliance

The Ghana Gold Board (GoldBod) has announced the immediate suspension of new applications for selected gold buying licences as part of a wider reform agenda aimed at strengthening and modernising Ghana’s gold trading system.

In a statement issued on February 16, the Board said the directive affects new applications for Tier 1 and Tier 2 buying licences, as well as the Self-Financing Aggregator Licence. The suspension is effective immediately.

During the review period, the Aggregator Licence will remain the only category of gold trading licence open for new applications.

GoldBod assured stakeholders that applications submitted before the announcement will continue to be processed.

The Board added that it will expedite the review and issuance of pending buying licence applications, provided applicants meet all regulatory requirements and have fulfilled the necessary fee obligations.

According to the statement, the temporary suspension forms part of broader measures to facilitate upcoming reforms to the national gold buying framework. The reforms are intended to enhance transparency, improve compliance, strengthen traceability, and ensure greater value retention within Ghana’s gold trading ecosystem.

The Board emphasised its commitment to working collaboratively with stakeholders across the gold value chain to build a robust, accountable, and internationally competitive gold trading regime that safeguards the national interest.

Further updates on the reform process and a revised licensing framework are expected to be communicated in due course.