Ghana’s GoldBod Issues 300+ Digital Licenses to Combat Illegal Gold Trade

Ghana’s Gold Regulator Issues 300+ Licenses to Combat Illegal Trade

Ghana’s newly formed gold sector regulator has distributed over 300 trading licenses through its digital platform, marking a significant step toward formalizing Africa’s second-largest gold industry.

The Ghana GoldBoard (GoldBod) launched the comprehensive licensing system to eliminate illegal gold trading activities that have plagued the country’s mining sector for years. Chief Executive Officer Sammy Gyamfi announced that the digital platform serves as the cornerstone of efforts to sanitize Ghana’s gold trade operations.

The regulatory body’s aggressive licensing approach targets both large-scale operations and small-scale miners who previously operated outside legal frameworks. Ghana produces approximately 130 tons of gold annually, making it Africa’s largest gold producer after South Africa.

GoldBod’s digital system streamlines the application process while creating a comprehensive database of legitimate gold traders. The platform enables real-time monitoring of gold transactions and helps authorities track the precious metal from mining sites to export terminals.

The licensing initiative addresses longstanding concerns about smuggling and tax evasion in Ghana’s gold sector. Government officials estimate that illegal gold exports cost the country millions in lost revenue annually.

The regulatory crackdown comes as Ghana seeks to maximize benefits from its natural resources while meeting international standards for responsible mining practices. The 300+ licenses represent the first major milestone in transforming Ghana’s gold industry into a fully regulated, transparent sector.

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