Ghana Gold Board (GoldBod) Explained: What Foreign Gold Traders Need to Know in 2025
? What Is GoldBod Ghana?
The Ghana Gold Board (GoldBod), created under Act 1140 of 2025, is the newly established government body responsible for regulating the buying, aggregation, and exportation of Artisanal and Small-Scale Mining (ASM) gold in Ghana.
GoldBod Ghana was introduced as part of a sweeping effort to:
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Centralize all gold exports from ASM sources,
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Eliminate unregulated or under-invoiced shipments,
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Increase state revenue, and
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Align Ghana’s gold trade with global anti-money laundering (AML) and compliance standards.
As of 1st May 2025, all former export licenses issued by the PMMC, Ministry of Lands, or even third-party aggregators have become invalid, unless reauthorized by GoldBod.
? GoldBod Ghana and the New Legal Landscape (Act 1140)
Under Act 1140, GoldBod is now the sole legal body for:
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Licensing the export of ASM gold
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Conducting or approving assays
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Authorizing aggregators and buyers
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Enforcing legal compliance in the gold supply chain
Exporting gold from Ghana outside the GoldBod system is now a criminal offence.
? Can Foreign Gold Traders Still Operate in Ghana?
Yes—but with conditions.
Foreigners are not banned from gold trading, but they must now comply with one of the following options:
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Apply for a GoldBod export license (starting 22 April 2025)
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Register as an off-taker, purchasing gold directly from GoldBod’s certified pool
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Form a joint venture with a Ghanaian aggregator legally approved under GoldBod
Foreign entities must also be:
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Incorporated in Ghana
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Registered with the Ghana Investment Promotion Centre (GIPC)
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Compliant with Ghana Revenue Authority (GRA) and immigration rules
?? Clinton Consultancy: Ghana’s Leading Legal Advisors for GoldBod Compliance
Led by UK-trained lawyer Amanda Clinton, Clinton Consultancy is a prominent Ghanaian law firm helping foreign clients navigate:
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GoldBod export license applications
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Legal opinions on blocked funds or pre-GoldBod contracts
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Due diligence on aggregators and partners
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Restructuring deals post-GoldBod reform
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GoldBod aggregator introductions + JV setup
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Legal recovery where gold is withheld or license transition failed
We are trusted by gold traders from Dubai, the UK, India, South Africa, and the US for our fast, discreet, and strategic advisory.
? What Happens If You Ignore the New GoldBod Rules?
Exporting ASM gold without a GoldBod license after 30 April 2025 exposes you to:
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Seizure of goods
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Fines and criminal prosecution
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Loss of investment capital in Ghana
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Breaches of international supply contracts
Traders with CIF (Cost, Insurance, Freight) contracts under the old regime must immediately assess legal exposure or consider force majeure clauses in pending deals.
? Ghana’s Gold Sector by the Numbers: Why the GoldBod Reform Happened
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Ghana exported $6.6 billion worth of gold in 2023
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Over 30% of ASM gold went through informal or under-invoiced channels
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Estimated annual losses in taxes, royalties, and FX: $1.1 billion+
The GoldBod Act is Ghana’s boldest attempt yet to reclaim value lost through decades of regulatory gaps.
? Related Video Content
To further understand the implications of the GoldBod reforms, watch our detailed discussion:
? Need to Comply with GoldBod? Contact Clinton Consultancy
? 9th Floor, Emporium Building, Mövenpick Ambassador, Ridge, Accra
? info@clintonconsultancy.com
? +233 27 252 2695
? www.clintonconsultancy.com
? Book a consultation today for GoldBod licensing, JV structuring, and legal opinions.