The Ghana Gold Board (GoldBod) has introduced new mandatory guidelines governing how Self-Financing Aggregators (SFAs) onboard offtakers and conduct gold trading and export transactions.
The directive, issued by the GoldBod’s Compliance Directorate on July 13, 2026, forms part of the terms and conditions of SFA licences and takes immediate effect under the Ghana Gold Board Act, 2025 (Act 1140).
According to the notice, SFAs must first submit details of any proposed offtaker to GoldBod for Know-Your-Customer (KYC), Anti-Money Laundering (AML) and financial due diligence before engaging in any business relationship.
Only offtakers that successfully pass the Board’s assessment may proceed, after which the SFA must seek formal approval from GoldBod to trade with the approved offtaker by submitting a draft of the proposed offtake agreement.
“Only Offtakers that have successfully satisfied the GoldBod’s due diligence requirements may proceed to the next stage,” the notice stated.
The guidelines further outline the transaction process, requiring approved offtakers to remit foreign currency purchase funds in line with GoldBod’s trading conditions.
Following confirmation of the inflows, GoldBod will convert the funds into Ghana cedis using the applicable Bank of Ghana reference rate and transfer the proceeds into the SFA’s designated account.
The SFA is then expected to acknowledge receipt of the funds within 24 hours before proceeding with local gold purchases in accordance with GoldBod’s pricing regime and regulations.
“Upon receipt of the converted funds, the SFA shall proceed to undertake local gold purchases in strict compliance with the GoldBod’s pricing regime, regulations and directives,” the Board said.
GoldBod also stressed that its role in the process is strictly regulatory and administrative and does not extend to commercial arrangements between SFAs and offtakers. It emphasised that it does not guarantee payments, gold supply, contractual performance or the financial standing of either party.
“The GoldBod is not and shall not be deemed to be a party to any financing arrangement, purchase agreement, sales contract, export contract, payment arrangement or any other commercial relationship entered into between an SFA and its approved Offtaker,” the notice said.
Additionally, the Board stated that SFAs would bear sole responsibility for all commercial, contractual and financial arrangements with approved offtakers and must indemnify GoldBod against any claims or liabilities arising from such transactions.
It warned that compliance with the new directives is mandatory and that any breach could attract sanctions under the Ghana Gold Board Act, 2025 (Act 1140), as well as the terms and conditions governing SFA licences.
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