By Patrick Biddah
All prospective Ghanaians seeking to apply for a licence to purchase and deal in gold, have been given three more weeks grace period to complete the process, following the expiration of a previous deadline which ended on April 30,2025.
These Ghanaians have up to 21 May from 30th April, 2025 to follow up on acquiring the license to trade in gold.
The Chief Executive Officer of GOLDBOD, Lawyer Sammy Gyamfi, who announced the extension at a press conference in Accra on April 30, 2025, indicated that the old license ceases to be valid following the repeal of the old law.
He said, it is an offence for any Ghanaian to trade in gold without the new license and punishable by prosecution with a jail term between 15 and 20 years and therefore advised against people falling victim.
According to him, all Ghanaian gold dealers, should take advantage of this extension to finalise their license application which can be accessed on the website of the Goldbod- www.goldbod.gov.gh
In view of the extension which is the third in a series, the Chief Executive Officer, stressed that there will be no extension after this particular one expires on 21 May ,2025.
In his estimation, the last extension would have been enough time for anyone seeking to have the license able to complete the process.
He equally warned foreign nationals not to attempt to buy, export or set up businesses to trade in gold, since the new law does not allow them to do so.
“ To apply for a gold trading license, you must be a Ghanaian with a minimum capital of $5m , an account and it won’t taken more that 60 days for the license to be ready “, he pointed out.