Ghana Gold Board (GoldBod) has initiated a high-level strategic engagement with the Jewellers and Fabricators Association to outline new gold purchasing directives and comprehensive licensing reforms.
This move is designed to tighten the regulatory framework of the nation’s downstream gold sector, ensuring that every participant in the value chain adheres to strict formalization protocols.
By centralizing the acquisition process, the Board seeks to eliminate the shadow economy of illicit trading that has historically compromised the industry’s integrity.
“Direct purchases from miners and unapproved traders undermine traceability and weaken ongoing reforms. Effective March 2026, licensed jewellers will be able to purchase gold from GoldBod in standardized weights of 7.75g, 15.5g, and 31g, subject to licence verification.”
Ghana Gold Board (GoldBod)
Under the leadership of GoldBod CEO, Mr. Sammy Gyamfi Esq., the reforms clarify the distinct legal boundaries between fabrication and trading.
Sammy Gyamfi emphasized that existing licenses permit jewellers to operate exclusively as fabricators, explicitly prohibiting them from acting as independent gold buyers or traders.
To bridge the supply gap created by these restrictions, Ghana Gold Board, in a landmark partnership with Gold Coast Refinery, will begin the direct supply of standardized, refined gold and silver to all verified, licensed jewellers starting in March 2026.
According to Ghana Gold Board, “The engagement marks another step in protecting the integrity of Ghana’s gold value chain while strengthening transparency, compliance, and sustainable growth in the jewellery sector.”
Strategic Integration of Local Refining
The operational shift hinges on the successful commencement of local refining in collaboration with Gold Coast Refinery, a facility in which the state now holds a 15% free-carried interest.
By providing refined bullion in standardized denominations specifically 7.75g, 15.5g, and 31g GoldBod is effectively “de-risking” the procurement process for local artisans.
This system ensures that jewellers no longer need to navigate the volatile and often opaque “galamsey” markets, providing them with a steady, documented supply of high-purity minerals.
Enhancing Traceability and Operational Oversight
From Ghana Gold Board’s perspective, these reforms are a masterstroke in “plugging the leakages” that have plagued Ghana’s mineral revenues.
By forcing jewellers to source through approved channels, GoldBod creates a closed-loop ecosystem where every gram of gold is accounted for from the point of refinery to the final retail ornament.
This granular level of oversight is expected to significantly boost the Board’s data accuracy, allowing for more precise forecasting of domestic gold consumption and better alignment with international “conflict-free” sourcing standards.
Sustaining Growth through Compliance
The transition to this centralized model represents a pivot from mere regulation to active market facilitation.
“To support local value addition,” the Board noted, the availability of both gold and silver will be prioritized to ensure that the Ghanaian jewellery brand remains competitive on the global stage.
As GoldBod prepares for full-scale independent operations in 2026, these licensing reforms act as a foundational pillar, ensuring that the downstream sector contributes its fair share to the national treasury while maintaining the highest standards of transparency and ethical trade.
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