Ghana Bans Foreigners From Local Gold Market to Boost Foreign Exchange Reserves & Stabilize Currency

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Ghana Bans Foreigners From Local Gold Market to Boost Foreign Exchange Reserves & Stabilize Currency - Sputnik Africa, 1920, 15.04.2025
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Ghana Bans Foreigners From Local Gold Market to Boost Foreign Exchange Reserves & Stabilize Currency

Effective May 1, 2025, the Ghana Gold Board (GoldBod) will exclusively regulate artisanal gold mining. Foreigners must exit the gold trading market by April 30, 2025, but can apply to GoldBod to buy gold directly.

GoldBod's creation and the ban on foreign gold trading are seen as President John Mahama's first step to control the sector and fulfill anti-"galamsey" campaign promises.

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