GoldBod begins strict enforcement of receipt use in gold trading

The Ghana Gold Board (GoldBod) has commenced nationwide enforcement of a new directive.

The directive requires all licensed gold buyers to issue official GoldBod receipts for every purchase and sale of gold in the country.

The board explained in a statement that the mandatory use of receipts applies to licensed aggregators, self-financed aggregators, as well as Tier 1 and Tier 2 buyers. It emphasized that the receipt system is now a compulsory requirement for gold trading and a critical condition for the validity of all transactions.

As part of the enforcement process, GoldBod has deployed its taskforce and field inspectors across the country. Licensed buyers are expected to make their receipt booklets available for inspection and to cooperate fully with the inspection teams.

GoldBod further urged licensed small-scale miners and gold traders to insist on the issuance of official receipts for every purchase undertaken with licensed buyers, stressing that this will promote transparency and accountability in the sector.

The board warned that failure to comply with the directive constitutes a serious offence. Licensed buyers who do not issue receipts risk facing severe sanctions, including the suspension and possible revocation of their operating licenses.

In an effort to ease compliance, the board has made provisions for the acquisition of official receipt booklets. Licensed buyers in need of these booklets are directed to contact the GoldBod License and Regulatory Unit on the following numbers: 0542325994, 0256072017, or 0256072012.

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GoldBod expressed appreciation to stakeholders who have so far adhered to the new system, noting that the enforcement is part of a broader push to uphold transparency and integrity in Ghana’s gold trade. “Together, we can strengthen the sector for the benefit of all stakeholders,” the statement said.

The release was signed by Prince Kwame Minkah, Media Relations Officer of the Ghana Gold Board.