The Ghana Gold Board (GoldBod) has announced new mandatory procedures for Tier 2 licensed gold buyers seeking access to its gold purchase financing programme through aggregators.
In a notice dated July 22, 2026, GoldBod said the revised framework takes immediate effect and is aimed at strengthening transparency, accountability and prudent management of funds under the trade financing programme.
Under the new guidelines, eligible licensed buyers must submit a formal application to an approved aggregator, present a valid Tier 2 GoldBod licence for verification, complete Know-Your-Customer (KYC), due diligence and creditworthiness assessments, and sign a trade financing agreement before accessing any financing.
As part of the financing arrangement, applicants will also be required to provide an acceptable form of security, including a bank guarantee, advance payment guarantee or insurance bond. The security requirement will range between 10 and 50 per cent of the approved financing amount, depending on the buyer’s credit assessment.
GoldBod noted that financing will only be disbursed after all registration requirements have been met, agreements executed and approved, and all conditions set by the aggregator have been satisfied.
The Board also directed all existing beneficiaries of the trade financing programme to regularise their participation under the new framework. Beneficiaries are required to settle all outstanding trade funds and close their existing financing accounts with aggregators on or before August 1, 2026.
According to the notice, participants who fail to comply by the deadline will be removed from the list of eligible Tier 2 licensed buyers until all outstanding debts have been fully settled.
GoldBod further outlined a default and recovery process, stating that defaulters will first receive a 21-day demand notice to settle outstanding obligations. Failure to comply will result in the suspension of their GoldBod Buyer Licence. A final 30-day demand notice will then be issued, after which criminal proceedings may be initiated against persistent defaulters.
The Board emphasised that continued participation in the trade financing programme is a privilege rather than an entitlement and will depend on compliance with the Ghana Gold Board Act, GoldBod directives, the terms of financing agreements and the maintenance of an acceptable credit standing.
GoldBod urged all funded licensed buyers to comply strictly with the new requirements within the prescribed timelines to ensure uninterrupted access to financing under the programme.
By: Bernard Mensah
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