The Ghana Gold Board (GoldBod) has announced the immediate suspension of new applications for selected categories of gold buying licences as part of efforts to reform and modernise the country’s gold trading regime.

In a press release issued on Monday, February 16, GoldBod said the suspension affects fresh applications for Tier 1 and Tier 2 Buying Licences, as well as the Self-Financing Aggregator Licence, with immediate effect.

The Board indicated that the Aggregator Licence will be the only gold trading licence category open for new applications during the period.

GoldBod, however, assured stakeholders that applications submitted before the announcement will continue to be processed.

According to the statement, the Board will fast-track the review and issuance of pending buying licence applications, provided applicants meet all regulatory requirements and have fulfilled the necessary fee obligations.

“The Board will expedite the review and issuance of pending buying licensing applications, provided applicants meet all regulatory requirements and have fulfilled the necessary fee obligations’’ the statement said

The statement added that the directive forms part of broader measures to pave the way for reforms to the national gold buying framework, which are aimed at enhancing transparency, strengthening compliance, improving traceability, and ensuring greater value retention within Ghana’s gold trading ecosystem.

The Board reiterated its commitment to working closely with stakeholders across the gold value chain to establish a robust, accountable and internationally competitive gold trading regime that safeguards Ghana’s national interest, adding that further updates on the reform process and the revised licensing framework will be communicated in due course.