The Acting Managing Director of the Ghana Gold Board (Goldbod), Lawyer Sammy Gyamfi, has announced the full enforcement of the newly established Goldbod licensing regime, marking a decisive shift in the regulation of gold trading in Ghana.
Addressing the media at a press conference held at Goldbod’s head office, Lawyer Gyamfi stated unequivocally that only Ghanaians who have obtained valid Goldbod licenses are legally permitted to engage in the buying and selling of gold.
“If you are not licensed by Goldbod, you are committing a crime if you buy or sell gold in Ghana,” he said.
He explained that all licenses previously issued by the now-defunct Precious Minerals Marketing Company (PMMC) or the Ministry of Lands and Natural Resources have been revoked and are no longer valid under the new legal framework.
“While we previously allowed stakeholders to operate using PMMC licenses or ministerial permits, that era is over. The legal regime has changed, and only Goldbod-issued licenses are now valid.”
Although the official deadline for licensing has passed, Mr. Gyamfi assured that the application process remains open for interested parties who wish to comply with the law.
“The process is ongoing. Anyone who wants to participate in the gold trade legally can apply when ready,” he added.
Tougher Crackdown on Illegal Gold Trading and Smuggling
As part of government’s broader effort to sanitize the gold sector, Lawyer Gyamfi announced the imminent launch of a permanent anti-smuggling task force, which will operate in collaboration with the National Security Secretariat. The task force will be mandated to detect and dismantle illegal gold trading and smuggling networks across the country.
He further urged the public to assist enforcement efforts by reporting illegal operations, adding that individuals who provide credible information will receive a “handsome reward.”
Goldbod’s Recent Achievements
While outlining the enforcement measures, Mr. Gyamfi also highlighted key achievements of the Ghana Gold Board under the new regulatory regime. These include increased transparency in the gold trade, improved monitoring systems, and a growing number of licensed traders operating under a unified legal framework. More details on these achievements are expected to be released in an upcoming report.
Source: Myxyzonline.com
