Acting Chief Executive Officer of the Goldbod, Mr Sammy Gyamfi (Esq.) has stressed that persons who engage in gold trading without Goldbod licenses after June 21 will be prosecuted.
He stressed this during a meeting with the Chamber of Licensed Gold Buyers.
“As we have announced, by the 21st of this month, we shall ensure that only holders of Goldbod licenses are able to buy gold, and so if you are not licensed by the GoldBod, you cannot buy gold after June 21st. It will constitute a punishable offense to do so.”
Mr Gyamfi urged the gold buyers to forge partnerships that will boost compliance with the new GoldBod licensing regime.
The acting CEO noted that the process for registering has been made seamless and is devoid of corruption.
“We have removed the human interface element and so there is no corruption, bribery, inducements, or favoritism. It is a very transparent and competitive process and once you qualify, you get the license. I don’t take or demand bribes before I issue license.”
The Ghana Gold Board (Goldbod) has, for the umpteenth time, extended the deadline for gold traders with outdated licences to reapply under its new regulatory framework .
The May 21 deadline, which was reported to be the final extension, has been extended to June 21 following concerns by stakeholders.
According to Mr Gyamfi, “this new deadline is not extendable.”
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The use of a license issued by the defunct PMMC and/or the Ministry of Lands and Natural Resources to deal in gold is prohibited beyond the new non-extendable deadline of June 21.
A breach of this directive shall constitute a punishable offense under the Ghana Gold Board Act, 2025 (ACT 1140).
Under the new Ghana Gold Board Act, all previously issued licences for gold trading have been rendered void. Traders who wish to stay in business must submit fresh applications via the Goldbod website.
Applicants have been advised to pay attention to detail when filling out the forms, as inaccuracies could lead to disqualification.
“If you make serious omissions or errors in the application, it will go against you in terms of the decision that the Gold Board will take on that application,” Mr. Gyamfi warned.
Goldbod will oversee the gold sector, tackle illegal trade, and promote responsible sourcing in line with global standards such as the London Bullion Market Association (LBMA) certification.
The Minister for Finance, Dr Cassiel Ato Forson, has established the newly constituted Board of Directors of the Ghana Gold Board (GoldBod).
Dr Forson extended President John Dramani Mahama’s congratulations to the 13-member board led by Mr Kojo Fynn.
The sector minister also called on the board to deliver their mandate and enhance the country’s gold trade, ensure transparency in dealing, and aid the government’s economic recovery efforts.
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