The Ghana Gold Board (GoldBod) and the Chamber of Licensed Gold Buyers have formed a strategic partnership aimed at promoting responsible and sustainable gold trading in Ghana. The collaboration was formalized during a high-level meeting on Wednesday, June 4, 2025, at the Gold Board’s boardroom, with both institutions represented by their Chief Executive Officers — Mr. Sammy Adu Gyamfi for GoldBod and Mr. Kwaku Amoah for the Chamber.
The meeting focused on current challenges in the gold trading sector, including Ghana’s new gold buyer licensing regime and Environmental Protection Agency (EPA) fee structures. One of the key issues raised by the Chamber was the burden of high EPA fees on certain categories of license applicants.
In response, Mr. Gyamfi assured the Chamber of the Board’s willingness to engage with the EPA to explore the possibility of reviewing the fees, especially for tier two gold buyers. “We will engage with the EPA to see if it is possible for the fees to be reviewed downwards,” he stated.
He also emphasized the transparency and efficiency of the new licensing process, which now allows applications to be submitted entirely online without human interface. “This is to ensure fairness, competitiveness, and traceability within the gold trading value chain,” Mr. Gyamfi added.
Welcoming the Board’s forward-looking approach, Mr. Amoah expressed the Chamber’s readiness to support the implementation of the new licensing framework. “We believe that the new policy direction will consolidate activities within the gold trading segment,” he said. “We propose working together to achieve the Board’s objectives while also creating economic value for our members, particularly in the downstream sector.”
The partnership is expected to enhance outreach to key gold-producing regions including Ashanti, Western, Central, and Northern Ghana. Through collaboration, the institutions aim to support small-scale miners, foster innovation, and increase responsible gold output.
According to GoldBod, over 200 tier two license applications have already been received, with the licensing process expected to conclude by June 21, 2025. From that date, only licensed buyers will be permitted to purchase gold. Any unlicensed transactions will be subject to penalties under Ghanaian law.
“We want to ensure responsible sourcing and supply chain traceability,” Mr. Gyamfi stated. “By applying for a license, we gain valuable information about your operations, conduct due diligence, and subject applicants to our anti-money laundering and counter-terrorism financing protocols.”
This collaboration marks a major milestone in Ghana’s efforts to modernize and regulate the gold trading sector, ensuring it operates with integrity, transparency, and sustainability.
Story by Eugene Kwasi Nyarko
