GoldBod Clarifies Trade Financing, Says Funding Controls Do Not Affect Gold Purchases

The Ghana Gold Board (GoldBod) has moved to clarify reports suggesting that licensed gold buyers are experiencing delays in accessing funds, stressing that the situation should not be interpreted as a financing challenge within the Board.

According to GoldBod, its trade-financing framework is specifically structured to provide direct financing to licensed Aggregators who purchase and aggregate gold for onward delivery to the Board.

GoldBod explained that, as of the date of its statement, two licensed Aggregators were operating under the financing framework.

The Board stressed that Tier 1 and Tier 2 gold buyers are not automatically entitled to financing from GoldBod. Where such downstream buyers require working capital to support their operations, they may seek funding from the relevant licensed Aggregator.

GoldBod described such funding as a commercial credit arrangement between the Aggregator and the downstream buyer, rather than a direct financing obligation of GoldBod.

GoldBod also highlighted enhanced financing and risk-management procedures that took effect on August 1, 2026.

The measures include strengthened Know Your Customer (KYC) requirements, due diligence, credit assessments, formal financing agreements, repayment obligations and appropriate security requirements.

The Board said the introduction of these measures should not be construed as a withdrawal of financing support.

Rather, it explained that the controls are intended to ensure that public funds are protected and that financing is provided only to participants who meet the required eligibility and creditworthiness standards.

GoldBod said the measures are part of efforts to improve accountability, financial discipline and risk management within Ghana’s formal gold-trading system.

The Board further assured stakeholders that gold purchases remain ongoing, with GoldBod continuing to purchase an aggregate gold produced by the artisanal and small-scale mining (ASM) sector through its licensed buyers.

It also stated that it remains financially robust, dismissing any suggestion that it is unable to finance its statutory gold-purchasing mandate.

GoldBod therefore urged stakeholders to distinguish between its direct financing arrangements with licensed Aggregators and the commercial financing relationships that exist between Aggregators and downstream buyers.

The Board maintained that its financing framework is designed to balance support for the formal gold-trading sector with the need to protect public resources.

GoldBod said financial discipline, transparency, accountability and prudent risk management remain central to its operations as it works to strengthen the integrity of Ghana’s formal gold-trading regime.

The clarification comes amid reports and concerns over funding delays affecting some licensed participants in the gold-buying sector. GoldBod’s position is that such delays or financing arrangements involving downstream buyers do not represent an inability by the Board to fund its statutory gold-purchasing activities.