Ghana orders foreigners to exit gold market by April 30

Ghana has mandated that all foreign nationals involved in the local gold trading market exit by April 30, 2025, as part of a new regulatory framework aimed at streamlining gold purchases from small-scale miners and reducing smuggling. The newly established Ghana Gold Board, known as GoldBod, will be the sole entity authorized to buy, sell, assay, and export artisanal gold, with previous licenses rendered invalid. Foreigners wishing to continue trading can apply to purchase gold directly from GoldBod after their exit. This directive aligns with the Ghana Gold Board Act (Act 1140), which aims to enhance transparency and compliance in the gold sector while ensuring that Ghana maximizes its gold resource benefits. Effective May 1, 2025, it will be illegal for anyone to purchase or deal in gold without a license from GoldBod, with penalties for violations. The government hopes these changes will stabilize the national currency and bolster earnings from gold exports.