Ghana GoldBod

Last updated
Ghana Gold Board
GoldBod
Agency overview
Formed2025
JurisdictionGovernment of Ghana
HeadquartersAccra, Ghana
Minister responsible
Agency executive
Parent department Ministry of Lands and Natural Resources (Ghana)
Websitegoldbod.gov.gh

The Ghana Gold Board (commonly known as GoldBod) is a government-owned entity established under the GoldBod Act in March 2025. [1] It operates under the Ministry of Lands and Natural Resources and is authorized to buy, assay, sell, and export gold and other minerals produced by licensed artisanal and small-scale miners (ASM) in Ghana. [2] [3]

Contents

History and Establishment

On 28 March 2025, Parliament passed the GoldBod Bill, which was subsequently signed into law by President John Dramani Mahama. [4] [5] [6] The legislation, introduced by the Ministry of Finance, aimed to restructure the country’s gold sector by establishing GoldBod as a regulatory body with authority over gold trading and export activities involving artisanal and small-scale miners. [7]

During the passage of the bill, Finance Minister, Cassiel Ato Forson described the legislation as "transformative", stating that it aims to regulate the entire gold value chain, from extraction to export. [8]

Mandate

The Ghana Gold Board (GoldBod) was established with a mandate to purchase gold from licensed artisanal and small-scale miners (ASM) in Ghana, with the stated goal of reducing smuggling and improving traceability. According to the 2025 national budget, the Board was allocated a revolving fund of US $279 million to support its operations, including the weekly purchase and export of up to three tonnes of gold. [9] In addition to trading, GoldBod is tasked with contributing to Ghana’s foreign exchange strategy by supporting gold reserves and facilitating local gold retention. [10] The Board also oversees activities across the gold value chain, such as refining and marketing, and works toward compliance with international standards like those of the London Bullion Market Association (LBMA). [11]

Governance

GoldBod is overseen by a board appointed by the Ministry of Lands and Natural Resources and funded through government appropriations and gold purchase revenue.

References

  1. ↑ "Parliament Passes Landmark GoldBod Bill – Ghana Gold Board" . Retrieved 2025-07-04.
  2. ↑ GNA (2025-04-08). "Ghana Gold Board: The Dynamics, nuances and significance". Ghana News Agency. Retrieved 2025-07-04.
  3. ↑ "Ghana Gold Board Bill 2025 Passed: What You Need To Know | The High Street Journal". thehighstreetjournal.com. 2025-03-29. Retrieved 2025-07-04.
  4. ↑ at +233 0543 900 732, For more information, please contact ExpressNewsGhana via email at expressnewsgh@gmail com or WhatsApp (2025-03-29). "Parliament Passes Groundbreaking GoldBod Bill into Law". Express News Ghana. Retrieved 2025-07-04.{{cite web}}: |first= has generic name (help)CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link)
  5. ↑ "Parliament passes Ghana Gold Board Bill 2025 - MyJoyOnline". www.myjoyonline.com. Retrieved 2025-07-04.
  6. ↑ "Parliament passes Ghana Gold Board Bill 2025". 2025-03-29. Retrieved 2025-07-04.
  7. ↑ "Ghana prohibits foreigners from trading gold in the country starting May 1". AP News. 2025-04-14. Retrieved 2025-07-04.
  8. ↑ "Ghana Passes GoldBod Bill to Transform Gold Sector and Economy". 2025-03-29. Retrieved 2025-07-04.
  9. ↑ "2025 Budget: Governement allocates US$279 million for Ghana Gold Board (GOLDBOD)". Graphic Online. 2025-03-11. Retrieved 2025-07-04.
  10. ↑ Akorlie, Christian (2025-04-30). "Ghana secures deal with nine more gold miners to buy 20% of their output". Reuters. Retrieved 2025-07-04.
  11. ↑ "2025 Budget: Govt allocates US$279m for GOLDBOD operation - Channel1 News". channel1news.com. 2025-03-11. Retrieved 2025-07-04.
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