GoldBod directs mandatory use of receipts to curb illicit gold trade

Ghana Gold Board (GoldBod) has officially began enforcing the mandatory use of GoldBod receipts for all gold transactions involving licensed buyers, marking a significant step in formalizing the country’s gold trade and combating illegal mining activities.

Under the new directive, all licensed aggregators, self-financed aggregators, and Tier 1 & Tier 2 buyers must issue GoldBod receipts for every gold purchase, with non-compliance risking severe penalties, including license suspension or revocation. The move aims to enhance transparency, improve revenue tracking, and ensure that small-scale miners receive fair documentation for their sales.

To enforce compliance, GoldBod has deployed a specialized task force and field inspectors nationwide to monitor transactions and inspect receipt booklets. The board has also urged small-scale miners and traders to demand GoldBod receipts during transactions, reinforcing accountability in the sector.

“GoldBod further advises all licensed small-scale miners and gold traders to insist on the issuance of GoldBod receipts for every purchase transaction undertaken with licensed buyers.

“Licensed buyers are reminded that non-issuance of GoldBod receipts constitutes a serious offence and may attract severe sanctions, including the suspension and/or revocation of their license,” according to a statement issued by the board.

This directive is to significantly reduce gold smuggling and illicit trade while boosting government revenue from the sector. Licensed buyers requiring receipt booklets have been directed to contact authority’s License/Regulatory Unit for assistance.

The policy also aligns with broader government efforts to regulate Ghana’s gold industry, a key contributor to the national economy, and ensure that all transactions are properly documented for economic and regulatory oversight.

Read the attached press statement in full below:

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