The Ghana Gold Board (GOLDBOD) has issued new guidelines to regulate the onboarding of Offtakers and the conduct of transactions by Self-Financing Aggregators (SFAs), effective Monday, July 13, 2026.
In a statement issued to all SFAs and signed by the Compliance Directorate, GOLDBOD said the directive is pursuant to the Ghana Gold Board Act, 2025 (Act 1140). The Board said all SFAs are to comply strictly with the new procedures.
According to the notice, SFAs must first submit details of any proposed Offtaker to GOLDBOD together with documents for Customer Due Diligence, Anti-Money Laundering, and financial due diligence. GOLDBOD will then conduct regulatory and compliance due diligence, and may undertake up to three visits it considers appropriate to determine the suitability of the proposed Offtaker. Only Offtakers that successfully meet GOLDBOD’s requirements will be communicated to the SFA to proceed.
The SFA must then submit a formal application to GOLDBOD seeking approval to transact with the approved Offtaker, with a draft copy of the proposed offtake agreement. Upon approval, GOLDBOD will issue written approval specifying applicable operational requirements, SFA obligations, disclaimers, and other conditions that will govern the transaction.
On transactions, GOLDBOD said the approved Offtaker must remit agreed foreign currency purchase funds into a GOLDBOD-designated account. Upon confirmation of receipt, GOLDBOD will convert the FX and transfer the Ghana Cedi equivalent to the SFA’s designated bank account. The SFA is required to acknowledge receipt of the converted funds within 24 hours.
The SFA will then undertake local gold purchases in compliance with GOLDBOD’s pricing regime, regulations and directives. Before export, the SFA must seek GOLDBOD’s permission to export the aggregated gold to the Offtaker. GOLDBOD will conduct assay and verification, and upon satisfactory completion, will facilitate the export and payment for services including assay, regulatory fees, insurance, freight, and other third-party charges.
GOLDBOD stressed that its role is “strictly regulatory and administrative” and it “shall not and shall not be deemed to be a party” to any agreement between an SFA and an approved Offtaker. The Board further stated it gives “no guarantees” regarding the financial standing of any Offtaker, performance of any SFA, or commercial viability of any transaction.
“Each Self-Financing Aggregator shall bear sole and exclusive responsibility for all legal, contractual and financial arrangements entered into with an approved Offtaker,” the notice stated.
GOLDBOD warned that compliance with the notice is mandatory and any breach “may attract the applicable sanctions under the Ghana Gold Board Act, 2025 (Act 1140).”
