The Ghana Gold Board (GoldBod) has issued a firm warning to individuals and businesses involved in the buying and selling of gold without a valid GoldBod license.
According to GoldBod’s Chief Executive Officer, Sammy Gyamfi, anyone found operating outside the newly established licensing regime will face a prison sentence of no less than five years and up to ten years, in accordance with the Ghana Gold Board Act, 2025 (Act 1140).
He urged all stakeholders to avoid engaging in any illegal activities.
A final deadline of June 21 was set for all gold traders to transition to the new GoldBod licensing system. From that date onward, licenses previously issued by the Precious Minerals Marketing Company (PMMC) or the Ministry of Lands and Natural Resources are no longer valid for conducting gold trade.
To support compliance, GoldBod’s online registration platform remains open, allowing individuals and companies to apply for the appropriate license.
Mr. Gyamfi also announced the launch of a new enforcement task force, formed in collaboration with President John Mahama. This specialized unit will be responsible for ensuring nationwide compliance with the new regulations.
The task force will be equipped with body cameras and GPS tracking devices, with all activities monitored from GoldBod headquarters to promote transparency and accountability.
“Gold traders are strongly encouraged to regularize their operations to avoid facing legal action,” Mr. Gyamfi emphasized.
