Chamber of Licensed Gold Buyers hails enactment of GoldBod Act

The Chamber of Licensed Gold Buyers (CLGB) has commended government for the successful passage and assent of the Ghana Gold Board (GoldBod) Bill into law, marking a new chapter for the country’s gold industry.

With this landmark legislation, Ghana has established the GoldBod as the monopoly buyer, assayer, and exporter of Ghana’s gold.

“This is a bold and strategic move that has the potential to reshape our gold sector and significantly contribute to our country’s economic growth,” said Mr. Kwaku Amoah, Chief Executives Officer of CLGB.

The newly enacted GoldBod Act, 2025, establishes the Ghana Gold Board, which would oversee the governance, operations, and financial management of the gold industry.

The CLGB acknowledges the pivotal role GoldBod will play in Ghana’s gold industry, and therefore stands in support of its mission.

“The GoldBod’s establishment offers an exciting opportunity for us as stakeholders to work together for the greater good of the nation’s economy,” said a statement from CLGB.

The CLGB is a trusted association that regulates and empowers licensed gold buyers, ensuring fairer trade practices while promoting responsible mining across Africa.

The Chamber has expressed willingness to educate and empower its members across the country regarding the new GoldBod Act, ensuring they are fully informed and well-equipped to navigate the new regulatory framework.

“As we embrace this new era, we believe GoldBod will be a game-changer, especially in the context of cedi stabilization. We are optimistic that with GoldBod at the helm, Ghana’s gold sector will contribute substantially to stabilizing our currency, creating jobs, and boosting national revenue.

“The law has come at the right time. At CLGB, we understand that gold trading is a sensitive and highly regulated industry. We call upon all Ghanaians, particularly miners and gold buyers, to rally behind GoldBod.

“Supporting this initiative will ensure we maximize the economic potential of our natural resources. The CLGB and its members nationwide stand ready to collaborate with GoldBod in this noble pursuit,” the statement read.

Ghana is one of the leading gold producers in Africa, and CLGB plays a pivotal role in streamlining the operations of gold buyers within the country with a strong network of 500 plus certified members.

The Chamber has indicated its readiness to partner with the GoldBod in the fight against gold smuggling.

“This collaborative effort is crucial for ensuring that Ghana’s gold resources are fully accounted for, properly valued, and legally processed. We will continue to offer solutions to guide policy and address any bottlenecks in the GoldBod Act’s implementation, ensuring a seamless transition to this new and transformative structure,” said Mr. Amoah.

The newly-appointed CEO of the CLGB is confident the establishment of the GoldBod will pave the way for an era of enhanced transparency, regulation, and sustainable growth in our gold sector.

“We remain committed to supporting the government’s objectives and look forward to a future of shared prosperity through this transformative legislation. We hope that we work together and advocate for sustainable mining practices and improve regulatory oversight,” said Mr. Amoah.