Ghana’s government has ordered all foreign nationals involved in the country’s artisanal and small-scale gold sector to exit the market by April 30, 2025.
This move aims to enhance transparency in the gold value chain, boost national revenue and combat gold smuggling.
The Ghana Gold Board (GoldBod), established by an Act of Parliament in March 2025, will assume full control over the artisanal and small-scale gold trade. According to Prince Kwame Minkah, Public Relations Officer, “All foreigners are hereby notified to exit the local gold trading market not later than 30th April 2025.”
While foreigners are required to leave the market, they can apply for authorization to buy gold directly from GoldBod. Existing licenses issued by the Precious Minerals Marketing Company (PMMC) and the Minister responsible for Mines are no longer valid, except for those held by large-scale mining companies.
Ghanaian or fully-owned Ghanaian companies with expired licenses can apply for new ones starting April 22. Anyone operating without a GoldBod-issued license after May 1, 2025, will face punishment according to the law. The creation of GoldBod is expected to enable Ghana to capture greater value from its gold exports and stabilize the national currency.
The move is part of Ghana’s broader strategy to formalize artisanal gold trading and strengthen state oversight.
With gold exports recording a dramatic increase in 2024, rising by 53.2% to $11.64 billion, the government’s decision underscores its focus on leveraging natural resources for national development.