The Bank of Ghana (BoG) has announced plans to exit small-scale gold trading starting January 1, 2026, as part of a strategic move to refocus on its core responsibilities and enhance the efficiency of the country’s gold market.
Under this new directive, the central bank will cease direct participation in small-scale gold transactions, paving the way for private sector actors and licensed dealers to take a more prominent role in the industry. The decision is part of broader reforms aimed at improving regulatory oversight and promoting a more competitive and transparent gold trading environment in Ghana.
Officials at the Bank of Ghana explained that the move reflects a deliberate effort to concentrate on its primary mandate of maintaining monetary and financial stability, rather than engaging in commercial trading activities. By stepping back from direct involvement, BoG seeks to allow private businesses to manage small-scale gold supply and trading operations more effectively.
Industry stakeholders have had varied reactions to the announcement. Some welcomed the withdrawal, highlighting the potential for enhanced transparency, competitiveness, and private sector growth. Others expressed concerns about the transition process, particularly regarding how local miners and traders dependent on the current system would adapt to the new framework.
To address these concerns, the Bank of Ghana has indicated that it will provide detailed implementation guidelines, including instructions for private sector participation and measures to support affected stakeholders. Authorities emphasize that the transition is intended to be smooth, ensuring that small-scale gold traders and miners can continue their activities without major disruption.
Ghana’s gold sector remains a critical contributor to the national economy, providing employment and foreign exchange revenues. The central bank’s decision to withdraw from direct trading marks a significant step in modernizing the governance of the sector and aligning it with international best practices.
As the January 2026 deadline approaches, both the government and industry players are expected to collaborate closely to ensure that the shift strengthens Ghana’s gold trading framework, supports economic growth, and maintains confidence among investors and local miners.
Source: Thepressradio.com
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