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The government of Ghana has officially commenced the implementation of a new gold trading regulatory framework under the Ghana GoldBod Licensing Regime. Effective immediately, only Ghanaian citizens with valid documentation and licensing issued by the Ghana GoldBod are permitted to engage in any form of gold trading across the country.
All previously issued gold trading licenses — including those granted by the Precious Minerals Marketing Company (PMMC) and the Ministry of Lands and Natural Resources have been revoked and are no longer valid for legal gold transactions.
Speaking on the matter, Sammy Gyamfi, CEO for Precious Minerals Marketing Company, emphasized that the new regime aims not only to ensure proper and transparent operations within Ghana’s gold trading sector but also to secure maximum national benefit from the country’s vast gold resources.
“This is a strategic shift. Anyone who wants to engage in gold trading can now apply for a license from the Ghana GoldBod at any time and will be issued one if they meet the requirements. However, without this license, any attempt to trade gold will be considered illegal and treated as a serious offense under Ghanaian law,” he warned.
Authorities are urging all stakeholders in the gold business to comply with the new regime to avoid legal consequences, as enforcement measures are being rolled out nationwide.
With the transition now complete, Ghana’s gold sector is poised for tighter regulation, reduced smuggling, and increased foreign exchange earnings, a critical step in stabilizing the economy and ensuring long-term benefits from its mineral wealth.
Source:channel247online.com/Tamimu Hamdia
