Ghana has long been one of the world’s leading producers of gold. Yet, in 2025, a major legal overhaul changed how gold can be bought, sold, and exported from Ghana, especially for smaller producers. These changes affect both local sellers and foreign buyers.
If you’re planning to purchase gold from Ghana, understanding these reforms is crucial to ensure your transactions remain legal, transparent, and compliant with Ghanaian law.
In 2025, the Ghanaian Parliament passed Act 1140, establishing the Ghana Gold Board (GoldBod). GoldBod is now the exclusive authority responsible for buying, selling, assaying (testing purity), and exporting gold produced by the Artisanal and Small-Scale Mining (ASM) sector.
In simpler terms, only GoldBod can trade or export ASM gold. All licences previously issued to private exporters or local dealers under the Precious Minerals Marketing Company (PMMC) were revoked or expired under this new regime.
This monopoly applies to small-scale mining, not large mining operations. Companies with large-scale mining leases may still export their own production directly, provided they comply with the Minerals and Mining Act, 2006 (Act 703) and Ghana’s Local Content Regulations (L.I. 2431).
Under Ghana’s Foreign Exchange Act, 2006 (Act 723) and Anti-Money Laundering Act, 2020 (Act 1044), export proceeds must now be repatriated through Ghanaian banks and transactions must meet strict Know Your Customer (KYC) and AML requirements.
The Ghanaian government introduced these reforms to address long-standing issues that undermined the integrity of its gold trade.
Thousands of small-scale miners were selling gold outside regulated systems, leading to billions in lost export revenue. Centralising sales through GoldBod allows the state to monitor all gold flows and curb smuggling.
By requiring proceeds to return through the Bank of Ghana, the government aims to strengthen its foreign currency reserves, stabilising the Ghanaian cedi and national economy.
GoldBod enforces international standards on responsible sourcing, making Ghanaian gold more credible in global markets that demand traceability and ethical supply chains.
Many artisanal miners operated informally. The new framework brings them into a legal, regulated system, supporting both revenue collection and worker safety.
If you are a foreign buyer, you must exercise caution and perform rigorous due diligence before entering any gold purchase contract in Ghana.
Only GoldBod or its authorised agents can sell ASM gold. Always request documentary proof of the seller’s current GoldBod licence or, in the case of a large-scale miner, a valid mining lease and export authorisation.
You must know whether the gold originates from ASM or large-scale mining. ASM gold can only be sold or exported via GoldBod. Any other transaction is illegal.
Before export, the gold must be assayed (tested), valued, and certified by the authorised government body. Ensure the export paperwork references GoldBod or the Minerals Commission, and that payment terms align with Bank of Ghana (BoG) rules.
Under Ghana’s foreign exchange law, the export proceeds must be repatriated through a Ghanaian bank. Buyers should structure contracts so that payment complies with these FX requirements.
Even foreign-based buyers should ensure that their Ghanaian counterparties comply with local content and AML obligations. This mitigates reputational and legal risks.
Before committing to a purchase, confirm that:
The seller has a valid GoldBod export licence (or is a large-scale miner).
The gold’s source and purity have been verified by an accredited assayer.
Export documentation is issued by the Minerals Commission, Customs, and GoldBod.
The payment channel complies with Bank of Ghana repatriation rules.
The transaction passes AML / KYC due diligence standards.
Your contract includes warranties, indemnities, and termination rights for regulatory non-compliance.
Ghana’s 2025 reforms mark a new era of transparency and regulation in gold trading.
The message from Accra is clear:
Only GoldBod and licensed large-scale miners may legally sell and export gold from Ghana.
For foreign buyers, this means every purchase must go through official, traceable channels. Working with a licensed seller under GoldBod supervision is not only a legal requirement—it is your best safeguard against fraud, confiscation, or loss.
This article is for informational and educational purposes only and does not constitute financial, investment, or trading advice. The information provided is based on public data and general market analysis. Readers should seek independent professional advice before making any investment decisions involving gold, precious metals, or related financial instruments.