The Ghana Gold Board has held a strategic engagement with members of the Jewellers and Fabricators Association to discuss reforms to the jewellery licensing and gold purchasing regime.
The meeting forms part of GoldBod’s broader efforts to formalize Ghana’s gold value chain and strengthen traceability, transparency, and regulatory compliance within the sector.
Addressing the jewellers, CEO of GoldBod, Sammy Gyamfi, Esq. noted that the current jewellery regime is confronted with structural challenges, particularly instances where jewellers procure gold directly from miners and traders outside approved channels.
He explained that such practices undermine traceability systems and weaken government’s ongoing formalization drive.
“With the goal of formalization that GoldBod is championing, jewellers can no longer be permitted to buy gold directly from miners and traders,” he stated.
“There must be clear, structured procedures that ensure gold used in jewellery production is responsibly mined and properly traced,” he added.
The CEO emphasized that jewellers are licensed as fabricators and not as gold buyers or traders and therefore must operate strictly within the confines of their licensing category.
He further observed that while the majority of jewellers operate responsibly, a few actors have taken advantage of uncoordinated gold purchasing arrangements to engage in illicit trading activities, actions he said risk tarnishing the reputation of the entire sector and undermining government’s reform efforts.
Mr. Gyamfi assured the association of government’s full support for local value addition, stressing that GoldBod remains committed to strengthening Ghana’s jewellery industry.
As part of efforts to streamline the sector, he disclosed that GoldBod will supply refined gold and silver directly to licensed jewellers for smelting and fabrication.
He noted that the commencement of local refining operations through the partnership between GoldBod and Gold Coast Refinery has created a reliable avenue for jewellers to access responsibly sourced and refined gold within Ghana.
During the open forum session, jewellers proposed that GoldBod establish designated sales offices in Accra and Kumasi to enable licensed jewellers to purchase gold conveniently.
They further agreed that buyers should present valid jewellery licenses before being permitted to purchase gold for fabrication purposes.
In response, GoldBod announced that effective March 2026, it will commence the sale of gold to licensed jewellers in standardized weights of 7.75 grams, 15.5 grams, and 31 grams, subject to verification of licensing status.
The jewellers expressed satisfaction with the engagement and welcomed the new directives, affirming their commitment to purchasing responsibly sourced gold exclusively through GoldBod-approved channels.
The engagement marks a significant step toward strengthening compliance, protecting the integrity of Ghana’s gold value chain, and promoting sustainable local value addition in the jewellery sector.
