Ghana & the GoldBod

Ghana takes control by ordering ALL foreigners to exit GOLD market by April 30: Ghana has ordered foreigners to exit its gold trading market by the end of the month, a new government body said on Monday, as the West African country looks to streamline #gold purchases from small-scale #miners, increase earnings and reduce #smuggling.

AFRICA’s leading gold producer is shifting away from a system in which local and foreign companies with #export licenses can buy and export gold from artisanal or small-scale #mining.

Under the new system, the newly created gold board known as #GoldBod is the only entity allowed to buy, sell, assay and export artisanal gold, Monday’s statement said, and older licenses have ceased to be valid.

Foreigners must leave the local #goldtrading market by April 30 although they can apply « to buy or take-off gold directly from the GoldBod, » the statement said.

Finance minister Cassiel Ato Forson said in January that the creation of GoldBod would allow #Ghana to benefit more from gold sales while maintaining the national #currency‘s stability.

Ghana’s gold exports grew by 53.2% in 2024 to $11.64 BILLION, of which nearly $5 BILLION was from legal small-scale miners.

Gold prices vaulted on Friday over the $3,200-per ounce mark for the FIRST time.

The #tradewar between the #UnitedStates and #China has rattled global markets and driven #investors into gold, which is traditionally viewed as a hedge against geopolitical and economic uncertainty.

The TOP 10 gold-producing countries in AFRICA 2025:

1. #Ghana 🇬🇭
2. #Mali 🇲🇱
3. #SouthAfrica 🇿🇦
4. #BurkinaFaso 🇧🇫
5. #Sudan 🇸🇩
6. #Guinea 🇬🇳
7. #Tanzania 🇹🇿
8. #IvoryCoast 🇨🇮
9. #Zimbabwe 🇿🇼
10. #DemocraticRepublicofCongo 🇨🇩

These countries represent a significant portion of Africa’s total gold production

#TheFutureIsAFRICA #OnwardsAndUpwards2025

Ghana 🇬🇭 is an #AfCFTA member country and home to the #AfCFTASecretariat

#UnitedUnderAfCFTA #AfricaYesWeCAN

#TransformingAfrica #TheAfricaWeWant #BrandAfrica #AU #GDP #Investment hashtag#Africa #AfricaMeansBusiness #ThisIsAfrica #Diaspora #IT #OneAfrica #AUC #TransAfricanHighway #SMEs #CreatingOneAfricanMarket #Invest #Tariffs #TheAfCFTAEffect #Trade #AI #AfricaRising #FDI #IntraAfricanTrade #Agenda2063 #Partnerships #AfCFTATV #WB #BuildBackBetter #InvestInAfrica #AfricanUnity #IMF #WTO #AfDB #TradeNotAid #AfCFTATrading #SAATM #TradeInAfrica #TradeUnderAfCFTA #JoinAfCFTA #AfricaOnTheMove #Infrastructure #MadeInAfrica #PanAfricanism #Investors #PAPSS #ZLECAF #AfricanSolutionsToAfricanProblems #Growth #BetterAfricaBetterWorld #StrongerTogether #AfricaToTheWorld #BuyAFRICA #GlobalAFRICA