Ghana has ordered all foreign entities to exit the country’s gold trading market by April 30, 2025.
The directive is part of a broader government strategy to increase national revenue, reduce illegal gold smuggling, and strengthen oversight in the artisanal and small-scale mining sector.
Ghana, Africa’s leading gold producer, has traditionally allowed both domestic and foreign companies with export licenses to trade and export gold mined by small-scale operators.
However, under a newly introduced policy framework, the government has designated a new agency—GoldBod—as the sole entity authorized to buy, sell, assay, and export artisanal gold.
“All existing licenses previously issued to private operators, including foreign firms, have been rendered invalid under the new regime,” the government said in a statement. Foreign traders still wishing to operate in the sector must now apply for authorization to work through GoldBod.
Finance Minister Cassiel Ato Forson had earlier emphasized that the creation of GoldBod is central to Ghana’s efforts to retain more value from its natural resources and reinforce the strength of its national currency.
The move comes on the heels of strong performance in the country’s gold sector. In 2024, Ghana recorded a 53.2% surge in gold exports, reaching $11.64 billion, with nearly $5 billion attributed to legal small-scale mining activities.