The Ghana Gold Board (GoldBod) has introduced a new trade financing framework for Tier 2 Licensed Gold Buyers aimed at strengthening accountability, improving risk management and enhancing the administration of funds under its Gold Purchase Financing Programme.

In a statement, GoldBod said the framework takes immediate effect and sets out mandatory procedures for Tier 2 Licensed Gold Buyers and other eligible licensees seeking access to trade financing through Aggregators.

The Board said the reforms form part of broader efforts to promote transparency, financial discipline and sustainability within Ghana's formal gold trading sector.

Under the new arrangements, eligible applicants must submit a formal application to an Aggregator, present a valid Tier 2 GoldBod licence for verification and complete all Know-Your-Customer (KYC), due diligence and creditworthiness assessments before financing can be approved.

Applicants must also sign a Trade Financing Agreement detailing repayment obligations, reporting requirements and compliance responsibilities, with the agreement requiring GoldBod's approval before any funds are released.

To safeguard public funds, beneficiaries will also be required to provide security in the form of a bank guarantee, advance payment guarantee, insurance bond or another approved instrument covering between 10 and 50 per cent of the approved financing amount, depending on the outcome of the credit assessment.

GoldBod has further directed all existing beneficiaries of the Trade Financing Programme to settle outstanding obligations and regularise their participation under the new framework by August 1, 2026.

The Board warned that failure to comply would result in the suspension of eligibility for further financing, while continued default could attract regulatory sanctions, including the suspension of buyer licences and possible criminal proceedings.

It added that the revised framework also introduces restrictions on multiple financing arrangements to strengthen governance, protect public resources and ensure the long-term sustainability of Ghana's formal gold trading ecosystem.