GoldBod Suspends Applications for Tier 1, Other Gold buying Licenses

The Ghana Gold Board (GoldBod) has announced the suspension of applications for Tier 1 and Tier 2 buying licenses, as well as the Self-Financing Aggregator License.

The suspension takes effect immediately, it announced in a statement on Monday.

This means that the Aggregator License will be the only gold trading licensing category open for new applications.

According to the Goldbod, the decision forms part of a strategic reform process aimed at strengthening and modernising Ghana’s gold buying regime.

This decision forms part of broader measures to facilitate impending reforms to the national gold buying framework, it said.

“The reforms are designed to enhance transparency, improve compliance, strengthen traceability, and ensure greater value retention within Ghana’s gold trading ecosystem.”

Meanwhile, it said applications already submitted prior to the announcement will continue to be processed, assuring stakeholders of an expedited review process and issuance of pending buying licensing applications, provided applicants meet all regulatory requirements and have fulfilled the necessary fee obligations.

“GoldBod remains committed to working collaboratively with stakeholders across the gold value chain to build a robust, accountable, and internationally competitive gold trading regime that safeguards the national interest.”

Story by Hajara Fuseini

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