The Ghana Gold Board (GoldBod) has announced the immediate suspension of new applications for selected gold buying licences as part of sweeping regulatory reforms aimed at modernising Ghana’s gold trading regime.
In a statement issued and signed by the Management of GoldBod on Monday, February 16, GoldBod said the suspension affects new applications for Tier 1 and Tier 2 buying licences, as well as the Self-Financing Aggregator Licence, with immediate effect.
During the suspension period, the Aggregator Licence will be the only gold trading licensing category open for new applications.
The Board, however, assured stakeholders that applications submitted prior to the announcement will continue to be processed.
It added that pending applications will be reviewed and licences issued expeditiously, provided applicants meet all regulatory requirements and have fulfilled the necessary fee obligations.
According to GoldBod, the directive forms part of broader measures to facilitate impending reforms to the national gold buying framework.
The reforms, the statement noted, are designed to enhance transparency, improve compliance, strengthen traceability and ensure greater value retention within Ghana’s gold trading ecosystem.
GoldBod reaffirmed 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.
The Board said further updates on the reform process and revised licensing framework will be communicated in due course.
