The Ghana Gold Board (GoldBod) has directed all licensed gold dealers to conduct transactions using prices based on the official Bank of Ghana (BoG) reference rate, effective immediately.

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According to a press statement issued on April 14, 2025, the Board stated, “all licensed persons or entities buying gold from the local market, must do so in Ghana cedis and at a price calculated based on the Bank of Ghana Reference Rate published on www.bog.gov.gh.”

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This directive comes as part of the sweeping changes introduced under the Ghana Gold Board Act (Act 1140), passed by Parliament on March 29, 2025, and signed into law by the President on April 2. The new law establishes GoldBod as the sole entity permitted to buy, sell, assay, or export gold from the Artisanal and Small-Scale Mining (ASM) sector.

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To ensure a smooth transition, GoldBod has allowed existing licence holders under the Precious Minerals Marketing Company (PMMC) to continue operations until April 30, 2025. After that date, only those licensed under the new GoldBod framework will be authorised to engage in gold trading.

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The Board urged Ghanaian individuals and companies whose previous licences have expired to apply for new ones starting April 22, 2025, either online or at the GoldBod office in Accra.

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GoldBod further emphasized that from May 1, 2025, any individual or company dealing in gold without a valid licence from the Board will be committing an offence punishable by law.

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