GoldBod and Chamber of Gold Buyers Forge Partnership for Sustainable Gold Trading

The Ghana Gold Board, led by CEO Mr. Sammy Adu Gyamfi, met with the Chamber of Gold Buyers, led by CEO Mr Kwaku Amoah, in a meeting held at the Gold Board’s boardroom on Wednesday, June 4, 2025. The meeting aimed to discuss key issues affecting the gold trading sector, including the new licensing regime and Environmental Protection Agency (EPA) fees.

The Chamber expressed concerns about the exorbitant EPA fees for certain categories of license applicants, seeking a deeper understanding of the issue and potential solutions. In response, Mr. Sammy Gyamfi indicated that the Gold Board is open to reviewing the EPA fees, particularly for tier two buyers, and will engage with the EPA to explore possibilities of reducing the fees.

“We will engage with the EPA to see if it is possible for the fees to be reviewed downwards,” Mr. Gyamfi stated. He also highlighted the transparency and competitiveness of the licensing process, which allows applicants to submit their applications online without human interface.

The Chamber welcomed the direction of the Gold Board’s policy and expressed interest in partnering with the Board to support the implementation of the new licensing regime for small-scale miners. CEO Kwaku Amoah stated, “We welcome the direction of the Gold Board’s policy and believe that it will consolidate activities within the gold trading segment. We propose working together to achieve the Board’s objectives while also creating economic value for our members, particularly in the downstream sector.”

The partnership aims to leverage the Chamber’s extensive reach and network in the gold trading sector, covering regions such as Ashanti, Western, Central, and Northern Ghana. By working together, the Chamber and the Ghana Gold Board can promote innovation, support small-scale miners, and increase output levels.

The Ghana Gold Board has received over 200 applications from tier two license applicants and will conclude the licensing process by June 21, 2025. After this date, only licensed gold buyers will be allowed to purchase gold, and unlicensed buyers will be subject to penalties.

“We want to ensure responsible sourcing and supply chain traceability,” Mr. Sammy Gyamfi emphasized. “By applying for a license, you give us information about the company or business, we get to know you, we get to conduct due diligence, and we get to subject you to our code of anti-money laundering and counter-terrorism financing rules.”

The Chamber of Licensed Gold Buyers and the Ghana Gold Board are working together to ensure a smooth licensing process and to promote a responsible and sustainable gold trading sector in Ghana.

The members who attended the Wednesday engagement were Mr Job Osei Tutu – founder, Mr Daniel Sarpong – Co – founder, Nana Adjei Sikapa – Nsuta Daboase paramountcy – member,  Mr Michael Kojo Fynn – member and Mr Emmanuel Simpson – member andEunice Gariba – member