Ghana Gold Board Licenses Let Locals Strike It Rich

Ghana started giving out gold trading permits today. The Gold Board kicked off its licensing program for dealers across the country on April 23. People can apply for four types of permits right away: Aggregates, Self-financing Aggregates, Tier 1 Buyers, and Tier 2 Buyers. More license types will become available next summer.

Any Ghanaian adult or a fully Ghanaian company can send in applications. People can apply online through the official website or visit the main office in Accra. GoldBod reminded everyone about the April 30 deadline for foreigners to leave the local gold market. Breaking this rule means punishment under the new Gold Board law passed this year.

Foreign traders can still buy gold directly from GoldBod despite the restrictions. The agency wants all gold trading to happen at official prices set by the Bank of Ghana. These rates appear on the central bank website every day. The government created these rules to control the gold sector better.

The GoldBod aims to organize gold trading throughout Ghana with these permits. Applications for specialized activities like refining, smelting, making jewelry, storage, transport, and bringing gold into Ghana will open later. The agency wants to make sure only qualified people handle precious metals.