GoldBod tightens gold trade rules, requires aggregators to secure approval for Off-takers

By Prince Antwi July 13, 2026

The Ghana Gold Board (GoldBod) has introduced new compliance requirements compelling Self-Financing Aggregators (SFAs) to obtain regulatory clearance before engaging gold off-takers, as part of efforts to improve oversight and transparency within the country’s gold trading sector.

Under the new guidelines issued by the Compliance Directorate of GoldBod, aggregators must provide details of prospective off-takers for Know Your Customer (KYC), Anti-Money Laundering (AML) and financial due diligence checks before entering into any business relationship.

GoldBod said only buyers who successfully complete the regulatory assessment process will be permitted to conduct transactions with aggregators. It added that even after an off-taker is cleared, aggregators must obtain additional approval from the regulator before proceeding with any trade.

The new framework outlines a regulated transaction process where approved off-takers will provide foreign currency funding for gold purchases in accordance with GoldBod’s trading requirements.

The funds will then be converted into Ghana cedis using the applicable Bank of Ghana reference rate and transferred to the relevant aggregator.

After the purchase of gold is completed, GoldBod will undertake assay and verification processes before facilitating export arrangements.

However, the regulator emphasised that its involvement is limited to oversight and administrative functions and that it will not participate in commercial agreements between aggregators and buyers.

GoldBod stated that it “is not and shall not be deemed to be a party to any financing arrangement, purchase agreement, sales contract, export contract, payment arrangement or any other commercial relationship” between Self-Financing Aggregators and approved off-takers.

The Gold Board further clarified that it does not provide guarantees regarding the financial capacity of buyers, payment commitments of off-takers, supply obligations of aggregators, or the profitability of any transaction.

It warned that SFAs will remain fully responsible for all contractual and commercial dealings with approved off-takers and must protect GoldBod from any claims or disputes arising from such arrangements.

GoldBod stressed that adherence to the new directive is compulsory, noting that violations will attract penalties under the Ghana Gold Board Act, 2025 (Act 1140) and the conditions attached to operators’ licences.

The regulator said the measures form part of broader efforts to strengthen accountability, protect Ghana’s gold value chain and ensure greater transparency in the country’s gold trading operations.