27/08/2026
THE SAMMY GYEMFI FACTOR
Ghana's Gold Board (GoldBod) has directed all Self-Financing Aggregators (SFAs) to refine gold locally before it can be exported from the country, in a move aimed adding value to Ghana's gold output. The directive takes effect on September 1 and applies to all SFAs and their approved offtakers. Under the new requirement, every offtake agreement between an SFA and an approved offtaker must expressly provide for the gold to be refined in Ghana before export. All existing agreements must be amended by August 31 to incorporate the mandatory local refining requirement. GoldBod said all refining must be carried out at a refinery approved or designated by the board, and has reserved the right to determine which refinery can handle particular gold consignments. The cost of refining will be borne by either the SFA or the approved offtaker depending on their commercial arrangement. From September 1, GoldBod will only process export requests after confirming that the gold has been refined locally, refining charges are settled and all regulatory and export requirements are met.
