Licensed gold buyers across Ghana will now be required to report gold purchase transactions within five minutes of completion under a new compliance directive issued by the Ghana Gold Board (GoldBod).
The directive forms part of efforts to strengthen oversight, improve transparency and enhance regulatory compliance within the country’s gold trading sector.
In a notice issued on June 23, 2026, GoldBod reminded all licensed gold buyers of their responsibility to ensure the timely and accurate reporting of transactions involving licensed miners and licensed gold traders.
Five Minutes to Report Purchases
Under the new rules, buyers must communicate details of each gold purchase to their financing Tier 2 Buyer or Aggregator within five minutes of completing the transaction.
The information can be submitted through phone calls, text messages or any approved communication channel used for booking transactions.
According to GoldBod, the measure is intended to improve transaction monitoring and strengthen accountability throughout the gold supply chain.
Trading Hours Strictly Enforced
The Board also clarified that all gold purchase bookings must be carried out within approved trading hours.
Under the directive, bookings can only be made from the beginning of the trading day until 8:00 p.m.
GoldBod says the requirement forms part of broader efforts to improve oversight and maintain accurate transaction records across the industry.
Receipts and Records Mandatory
The Board has further directed buyers to issue receipts immediately after every transaction.
The receipts must include all relevant transaction details, including the exact time the purchase was made.
Licensed buyers have also been instructed to properly maintain receipts and supporting records and make them available for inspection whenever requested by GoldBod or authorised officers.
Sanctions for Non-Compliance
GoldBod warned that failure to comply with the directive will constitute a breach of Section 64 of the Ghana Gold Board Act, 2025 (Act 1140).
According to the Board, violations could result in sanctions and other enforcement measures provided for under the law.
The Board has therefore urged all licensed operators to comply fully and immediately with the new reporting requirements.
Strengthening Industry Oversight
The latest directive forms part of ongoing efforts to formalise and regulate Ghana’s gold trading sector.
Officials believe stricter reporting procedures will improve transparency, strengthen traceability and enhance confidence in the management of gold transactions.
GoldBod says effective compliance will be critical to ensuring the integrity and long-term sustainability of the country’s gold industry.
READ FULL STATEMENT BELOW:
