GoldBod rejects funding crisis claims, says gold purchases remain on course
The Ghana Gold Board (GoldBod) has rejected reports that funding constraints are disrupting gold purchases by licensed buyers, saying its trade-financing arrangements remain operational and that purchases of artisanal and small-scale mining (ASM) gold are continuing.
The Ghana Gold Board (GoldBod) has clarified reports suggesting funding constraints are disrupting gold purchases by licensed buyers. Reports on August 24, 2026, claimed some licensed gold purchasers experienced funding delays, causing some to suspend purchases or resort to borrowing. However, GoldBod stated these reports conflated its trade-financing arrangements with separate credit agreements between licensed aggregators and downstream buyers.
GoldBod clarified that direct financing is only available to licensed aggregators, not every company under its framework. Despite the concerns, GoldBod maintains its operations remain fully active, with robust financial standing and active gold-purchasing and aggregation. The Board committed to financial discipline, transparency, and prudent risk management while safeguarding public resources and maintaining Ghana's formal gold-trading system.
GoldBod operates through four categories of participants: Aggregators, Self-Financing Aggregators, Tier 1 Buyers, and Tier 2 Buyers. Currently, there are two licensed aggregators under the framework, eligible for direct GoldBod trade financing. Any difficulties Tier 1 or Tier 2 buyers face in accessing working capital from an aggregator should not be interpreted as a financing failure by GoldBod.
Downstream buyers outside the aggregator category do not have automatic entitlement to GoldBod financing. If they require financing to purchase gold through an aggregator, it must be arranged directly with the relevant aggregator, a commercial credit transaction determined by the aggregator based on factors like creditworthiness and risk appetite.
GoldBod introduced new controls on July 22, 2026, to strengthen accountability, improve credit-risk management, and protect public funds. Eligible buyers must hold a valid GoldBod license, undergo KYC, due-diligence, creditworthiness assessments, sign formal financing agreements, comply with reporting and repayment requirements, and provide necessary security.
Existing beneficiaries also need to regularise their participation and settle outstanding obligations.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
