The Ghana Gold Board (GoldBod) has, with immediate effect, suspended the gold trading licences of Dominic Bonsu Ventures and McWoode Ray 24 Enterprise for breaching licence terms and trading directives.
In two separate compliance notices issued on Thursday, July 24, 2026, GoldBod said the suspensions followed its determination that both entities had violated the terms and conditions of their licences and the Trading Directives issued under the Ghana Gold Board Act, 2025 (Act 1140).
According to GoldBod, Dominic Bonsu Ventures is prohibited from engaging in the purchase, sale, aggregation, transportation, or any other transaction involving gold with immediate effect. The Board said it is currently seeking the proprietor of Dominic Bonsu Ventures in connection with ongoing enforcement proceedings.
The High Court, Accra, has issued a Bench Warrant for the arrest of the proprietor to facilitate the enforcement process and related criminal proceedings. GoldBod said it is working closely with law enforcement agencies to execute the warrant.
In the case of McWoode Ray 24 Enterprise, GoldBod stated that the proprietor has already been arrested and is currently being prosecuted before the High Court, Accra. The proprietor has been remanded into Police custody pending the continuation of the criminal proceedings. McWoode Ray 24 Enterprise is also barred from any gold-related transactions effective immediately.
GoldBod has directed all licensed buyers, aggregators, self-financing aggregators, and miners to cease all trading, commercial dealings, or other business engagements with both suspended entities relating to gold transactions until further notice.
The Board warned that any person or entity found facilitating, assisting, or engaging in gold transactions with the two companies during the suspension period will be liable to enforcement and regulatory measures under Act 1140.
GoldBod reiterated its commitment to ensuring strict compliance with the laws, licence conditions, and trading directives governing Ghana’s gold trading sector. It said it will continue to take decisive enforcement action against persons and entities that undermine the integrity, transparency, and orderly operation of the industry.
