Ghana’s gold regulatory authority, GoldBod, has announced the immediate suspension of selected gold buying licence applications as it prepares to implement sweeping reforms aimed at tightening oversight and sanitising the sector.
In a statement issued on Monday, the regulator said the decision forms part of a broader restructuring process designed to strengthen transparency, ensure compliance, and align gold trading operations with new policy directives expected to take effect in the coming months.
According to GoldBod, the temporary suspension affects applications currently under review as well as new submissions in specific licence categories. Officials explained that the move will allow the authority to recalibrate its licensing framework in line with impending regulatory adjustments.
Reform Agenda Targets Compliance and Accountability
The regulator noted that the reforms are intended to address long-standing concerns within Ghana’s gold trading space, including unregulated operations, revenue leakages, and weak monitoring mechanisms.
“These changes are necessary to protect the integrity of the gold market and ensure that all operators meet the highest standards of compliance,” the statement said.
GoldBod added that the review process will examine due diligence requirements, operational capacity benchmarks, and reporting obligations for prospective licence holders.
Existing Licence Holders Not Immediately Affected
While the suspension impacts pending and new applications in selected categories, GoldBod clarified that existing licence holders who are fully compliant with current regulations will continue to operate as usual.
However, the authority warned that all licence holders should prepare for stricter enforcement measures once the revised regulatory framework is rolled out.
Stakeholders Urged to Cooperate
GoldBod called on stakeholders—including gold buyers, exporters, and small-scale miners—to cooperate fully during the transition period.
Industry analysts say the move signals government’s determination to formalise Ghana’s gold trade and maximise returns from the country’s mineral resources.
The regulator assured applicants that further updates will be communicated once the review process is concluded and the new guidelines are officially published.
