GoldBod issues new guidelines for self-financing aggregators and offtakers

The Ghana Gold Board (GoldBod) has issued new guidelines for Self-Financing Aggregators (SFAs) on the onboarding of offtakers and the conduct of gold transactions under the Ghana Gold Board Act, 2025 (Act 1140).

Under the new procedures, SFAs must submit the details of proposed offtakers to GoldBod for Know-Your-Customer (KYC), Anti-Money Laundering (AML), financial due diligence, and regulatory risk assessments before any business engagement. Only offtakers that complete the due diligence process may proceed to the next stage.

Following successful screening, SFAs are required to apply to GoldBod for approval to trade with the offtaker and submit a draft of the proposed offtake agreement. Where approved, GoldBod will issue written trading conditions outlining operational requirements and obligations for both parties.

The guidelines require approved offtakers to remit foreign currency purchase funds in line with GoldBod’s trading conditions. After confirming receipt of the funds, GoldBod will convert the foreign currency into Ghana cedis using the applicable Bank of Ghana reference rate and transfer the funds to the SFA’s designated bank account.

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SFAs must acknowledge receipt of the converted funds within 24 hours, proceed with local gold purchases in compliance with GoldBod’s pricing regime and regulations, and seek approval before exporting aggregated gold. GoldBod will conduct assay and verification before facilitating exports, while SFAs will bear all assay, regulatory, logistics, freight, insurance, and other third-party costs.

GoldBod stressed that its role in the process is strictly regulatory and administrative and that it is not a party to any financing, purchase, sales, export, or payment agreements between SFAs and offtakers. It also stated that it does not guarantee the financial standing, performance, payment obligations, supply commitments, or contractual obligations of either party.

The Board further stated that SFAs will bear sole responsibility for all commercial, contractual, and financial arrangements with approved offtakers and must indemnify GoldBod against any claims, liabilities, losses, disputes, or damages arising from such transactions.

GoldBod said the notice forms part of the terms and conditions of SFA licences, adding that compliance is mandatory and that any breach may attract sanctions under the Ghana Gold Board Act, 2025 (Act 1140).