The Ghana Gold Board has issued a stern warning to individuals engaged in gold trading without a valid license, following a recent GhanaWeb documentary that exposed numerous unlicensed shops in Wassa-Akropong. The documentary, titled "The Gold Market That Fuels Galamsey," highlighted the proliferation of these illicit operations in the Western Region town, where the lucrative nature of gold trading significantly fuels widespread illegal small-scale mining, locally known as galamsey.

Sammy Gyamfi, the Chief Executive Officer of the Ghana Gold Board, emphatically stated that anyone trading gold without a valid GoldBod license will face arrest and prosecution. Addressing journalists on June 30, 2025, Gyamfi declared, "If you are not licensed by the Ghana Gold Board, you are committing a crime if you buy gold or engage in any form of gold trading." He further clarified that licenses issued under the now-defunct Precious Minerals Marketing Company (PMMC) regime are no longer recognized, requiring traders to reapply under the new GoldBod system to continue operations. "We will no longer continue to recognize licenses issued under the old regime," he added.

To enhance compliance and enforcement, President John Dramani Mahama is set to inaugurate the GoldBod Taskforce. This new body is specifically designed to clamp down on illegal gold trading, gold smuggling, and price distortions within the gold market. Gyamfi explained that past efforts had been ad hoc, relying on temporary national security personnel, which led to a cycle where discipline in the market would emerge during deployments only to regress to illegal activities upon their withdrawal. The new task force, however, will be permanent.

Gyamfi stressed the permanence of this new enforcement presence, stating, "This time around, we are not going to recall them. We will have a permanent, standby force protecting the national interest, ensuring that everyone trading in gold is licensed." The rationale behind mandatory licensing is to ensure thorough due diligence, including data collection and verification of fund sources to prevent connections to money laundering or terrorism financing. These initiatives, Gyamfi noted, are integral to the government’s broader strategy to combat illegal mining and protect the environment.

The persistent problem of galamsey has seen numerous attempts by successive governments to curb it, yet it remains a significant challenge. A primary driver of this issue is the existence of numerous gold-buying shops that provide a ready and unchecked market for illegally mined gold, perpetuating demand. The GhanaWeb documentary team, for instance, identified over seven such shops in Wassa-Akropong alone, where gold was readily purchased without any apparent effort or interest in verifying its source. The process was simple: hand over the gold and receive payment. Among the establishments noted were China Market Gold Buying Agent, Amanone Gold Refinery, Champion Gold Refinery, Nyame Na Ayɛ Gold – High Price, Anane Gold Buying Agent, High Price Gold Refinery Base, and Givers Never Lack Gold Buying Agent.

Prince Minkah, the Public Relations Officer of GoldBod, confirmed in an exclusive interview with GhanaWeb that his organization is actively cracking down on all illegal gold traders. He reiterated, "Before you can deal in gold in Ghana, you must obtain one of our licenses. That is our way of curbing all forms of illegalities."