General News
GoldBod now sole buyer, seller, assayer and exporter of all gold produced by artisanal, small-scale miners in Ghana
The GoldBod is currently, the sole buyer, seller, assayer and exporter of all gold produced by the licensed Artisanal and Small-Scale Mining (ASM) sector in Ghana, it has been announced.
In a press statement dated April 14, 2025 and issued by the new GoldBod on Monday afternoon, it said “all licenses issued by the Precious Minerals Marketing Company (PMMC) and/or the Minister responsible for Mines to a person other than a large scale mining company to deal in gold, have ceased to be valid”, following the passage of the Ghana Gold Board Act (Act 1140).
“…Pursuant to the Ghana Gold Board Act (ACT 1140), 2025, passed by Parliament on 29th March, 2025 and assented to by the President of the Republic on 2nd April 2025, all licenses issued by the Precious Minerals Marketing Company (PMMC) and/or the Minister responsible for Mines to a person other than a large scale mining company to deal in gold, have ceased to be valid,” it stated.
This means that no person other than the Ghana Gold Board (GoldBod), is permitted to export Artisanal and Small-Scale Mining (ASM) gold from Ghana.
Also, no person other than the GoldBod or a licensed buyer or aggregator or service provider of the GoldBod, is permitted to purchase or deal in gold in Ghana, it added.
It was explained that to ensure a smooth transition and respect for existing contractual obligations between licensed gold buyers and their off-takers, the Ghana Gold Board has resolved to allow for gold purchases and exports by persons holding appropriate licenses issued to them by the PMMC and/or the Minister Responsible for Mines until April 30, 2025.
For the time being, all licensed persons or entities buying gold from the local market, must do so in Ghana cedis and at a price calculated based on the Bank of Ghana Reference Rate it stated.
Attached below is a full copy of the press statement
PRESS STATEMENT
14TH APRIL, 2025
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The general public is respectfully informed, that pursuant to the Ghana Gold Board Act (ACT 1140), 2025, passed by Parliament on 29th March, 2025 and assented to by the President of the Republic on 2nd April 2025, all licenses issued by the Precious Minerals Marketing Company (PMMC) and/or the Minister responsible for Mines to a person other than a large scale mining company to deal in gold, have ceased to be valid.
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The GoldBod is currently, the sole buyer, seller, assayer and exporter of all gold produced by the licensed Artisanal and Small-Scale Mining (ASM) sector.
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As such, no person other than the Ghana Gold Board (GoldBod), is permitted to export ASM gold from Ghana. Also, no person other than the GoldBod or a licensed buyer or aggregator or service provider of the GoldBod, is permitted to purchase or deal in gold in the country.
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However, to ensure a smooth transition and respect for existing contractual obligations between licensed gold buyers and their off-takers, the Ghana Gold Board has resolved to allow for gold purchases and exports by persons holding appropriate licenses issued to them by the PMMC and/or the Minister Responsible for Mines until 30th April, 2025.
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For the time being, all licensed persons or entities buying gold from the local market, must do so in Ghana cedis and at a price calculated based on the Bank of Ghana Reference Rate published on www.bog.gov.gh.
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Any Ghanaian or a fully-owned Ghanaian company whose license has ceased to be valid and/or any Ghanaian who is desirous of dealing in gold, is encouraged to apply for a license under the Ghana Gold Board Act (ACT 1140), 2025 effective, Tuesday, 22nd April, 2025.
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An application for a GoldBod license may be done online, via the website of the GoldBod (to be activated and published on the effective date for license applications, 22nd April, 2025) or physically at the GoldBod Licensing and Regulations office located at our head office in Accra.
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All foreigners are hereby notified to exit the local gold trading market not later than 30th April, 2025. A foreigner may however apply to the GoldBod to buy or off-take gold directly from the GoldBod.
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It is worthy of note, that it shall constitute a punishable offense for a person to purchase or deal in gold in the country without a license issued by the Ghana
Gold Board, effective 1st May, 2025.
Thank you.
SIGNED.
Prince Kwame Minkah
(Media Relations Officer, GoldBod)
Source: Graphic Online
Crime and Investigation
OSP Invites Former GACL Board Chair Paul Adom-Otchere Over Suspected Corruption in Audit Deal
The Office of the Special Prosecutor (OSP) has summoned Paul Adom-Otchere, the former Board Chairman of Ghana Airports Company Limited (GACL), for questioning as part of an ongoing investigation into alleged corruption and financial irregularities.
The probe focuses on a revenue assurance audit contract between GACL and a private firm, with suspicions surrounding the financial management and accounting of airport revenues under the agreement.
In an official letter dated July 25, 2025, the OSP identified Mr. Adom-Otchere as a suspect in the matter, citing potential corruption and corruption-related offenses. He has been asked to appear at the OSP’s South Ridge office on Thursday, July 31, 2025.
Confirming receipt of the summons in an interview with Myjoyonline.com, Mr. Adom-Otchere, who recently completed his term as board chair, disclosed that his legal team has requested a new date—Monday, August 4—due to court engagements in Kumasi.
While pledging his full cooperation, he expressed surprise at being singled out, arguing that the decision-making around the contract was primarily handled by GACL management and its managing director, both of whom remain in office and available to assist with the inquiry.
Crime and Investigation
Court of Appeal Grants GHS10 Million Bail to Ato Essien Amid Health Concerns
The Court of Appeal has granted William Ato Essien, founder of the now-defunct Capital Bank, bail set at GHS10 million pending the outcome of his appeal against a 15-year prison sentence.
The bail decision, delivered on Wednesday, July 30, includes conditions such as the submission of his passport to the court and monthly check-ins with the court registrar. Two sureties are also required.
Essien was sentenced to 15 years in prison with hard labour in October 2023 by an Accra High Court, following his guilty plea to 16 counts of stealing, money laundering, and conspiracy to steal. The charges stemmed from his role in the collapse of Capital Bank, involving over GHS90 million in financial misconduct.
In May 2024, Essien applied for bail pending appeal, citing deteriorating health, but the request was rejected by the High Court. He then escalated the matter to the Court of Appeal.
During the latest hearing, Essien’s legal team stressed his worsening health condition and the need for urgent medical care. They also highlighted his partial fulfillment of a plea deal that required him to repay GHS90 million to the state. He had initially paid GHS30 million in December 2022, but failed to meet subsequent payment deadlines for the remaining GHS60 million.
The prosecution opposed the bail, arguing that Essien had not honored the terms of the agreement. However, the three-member panel of justices pointed out that Section 35 of the Courts Act (Act 459)—which allows for restitution in exchange for a possible non-custodial sentence—raises questions that must be examined in the appeal process.
Background:
Essien and three associates were charged for offenses that led to the collapse of Capital Bank, including theft and money laundering amounting to GHS90 million. After entering a plea bargain, Essien agreed to repay the state in structured installments: GHS20 million each by April, August, and December 2023. By April, he had only paid GHS4 million of the first tranche and a total of GHS7 million by the time of sentencing.
As a result of his failure to meet payment terms, the High Court imposed the custodial sentence.
Following the sentencing, Dr. John Apea, Head of Missions at the Commonwealth Enterprise and Investment Council and a board member of the Commonwealth Human Rights Office for Africa, began advocating for clemency on humanitarian grounds. He launched a petition and pledged to present it to former President John Mahama, emphasizing Essien’s fragile health and the need for compassion in justice.
Counsellor D Y Donkoh has issued a public apology to Ghanaian music star Shatta Wale after sharing a prophecy that reportedly left the artist “visibly shaken and traumatised.”
In a statement dated July 27, 2025, Donkoh admitted the prophecy—shared on social media—sparked widespread concern and was never meant to cause fear.
He expressed regret and pledged to be more cautious when sharing future revelations.
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