Starting from May 1, 2025, a new era begins for the gold sector in Ghana. The government has made a historic decision to ban foreigners from purchasing and trading gold sourced from artisanal mining. This decision marks a decisive step towards reclaiming the country’s economic sovereignty.
Under the leadership of President John Mahama, who made this a central theme of his campaign, Ghana is undertaking a major structural reform. The creation of the Ghana Gold Board, a new public agency, marks the end of a permissive system that favored smuggling, massive tax losses, and environmental degradation. From now on, any artisanal gold transaction will require an official license issued by this body, replacing the previous permits from the Precious Minerals Marketing Company.
This bold political choice aims to achieve several clear objectives: to protect natural resources, strengthen foreign currency reserves, stabilize the national currency, and regulate artisanal mining to maximize local economic benefits. It is a strong act of sovereignty in a context where many African nations are becoming aware of the need to regain control over their strategic resources.
The Ghanaian government’s message is clear—any activity outside this new legal framework will face prosecution. Through this reform, Ghana positions itself as an example in West Africa, asserting that it is time for African resources to benefit African people.
The reform championed by President Mahama demonstrates a clear determination to rebuild the Ghanaian economy on solid, inclusive, and national foundations. It is another step towards an Africa in control of its own destiny.
