Ghana Orders Foreign Gold Traders to Exit Local Market by April 30

Ghana has directed all foreign nationals to exit its gold trading sector by the end of April, as the country—Africa’s top gold producer—moves to reform its gold purchasing system. The government aims to boost revenue, curb smuggling, and streamline gold acquisitions from small-scale miners. Under the new policy, both local and foreign companies will no longer be permitted to buy and export gold from artisanal or small-scale sources.

Instead, the newly formed Gold Board (GoldBod) will have exclusive authority over the buying, selling, assaying, and exporting of all gold mined within Ghana. As part of the reforms, all existing mining leases—except those held by large-scale mining firms—have been revoked, including those belonging to Ghanaians. Additionally, the Gold Board has instructed that all gold purchases within the local market be conducted strictly in Ghanaian cedis.