Answer: No.

a. The GoldBod is barely eight months old. It had to put in place the necessary institutional and operational framework before full take off.

b. Currently, the GoldBod serves as an aggregator for the BoG in the local ASM and large-scale gold sectors. Since its inception in 2025, the GoldBold has only been responsible for the local purchase, assay and export of gold (both ASM gold and large-scale gold) for the Bank of Ghana.

c. The GoldBod is yet to assume its external gold trading and selling function. This is not in any way a dereliction of duty but rather, a sensible gradual approach to the implementation of GoldBod’s mandate.

This is why the GoldBod did not draw down its revolving seed capital of GHS4.5 billion approved for it in the 2025 budget.

d. The GoldBod is working with the BoG and Ministry of Finance to transition and assume full control over the gold trade sector as envisioned by ACT 1140 effective January 2026.

Under this new arrangement, the GoldBod will be solely responsible for the buying, assaying, export, trading and selling of Ghana’s gold resources, with support from the Ministry of Finance and the Bank of Ghana.