The Chamber of Licensed Gold Buyers (CLGB) has praised the government for the successful passage and approval of the Ghana Gold Board (GoldBod) Bill into law, marking a significant milestone for the country’s gold industry.

With this landmark legislation, Ghana has created the GoldBod, which will serve as the sole buyer, assayer, and exporter of the country’s gold.

“This is a bold and strategic decision that has the potential to transform our gold sector and contribute significantly to the nation’s economic growth,” said Mr. Kwaku Amoah, CEO of CLGB.

The newly enacted GoldBod Act of 2025 establishes the Ghana Gold Board, which will oversee the governance, operations, and financial management of the gold industry.

The CLGB recognizes the critical role that GoldBod will play in the country’s gold sector and fully supports its mission.

“The establishment of GoldBod presents an exciting opportunity for us, as stakeholders, to collaborate for the greater good of the nation’s economy,” said a statement from the CLGB.

The CLGB is a trusted association that regulates and empowers licensed gold buyers, ensuring fair trade practices and promoting responsible mining throughout Africa.

The Chamber has expressed its readiness to educate and empower its members nationwide about the new GoldBod Act, ensuring they are well-informed and properly prepared to navigate the new regulatory framework.

“As we enter this new era, we believe GoldBod will be a game-changer, especially in terms of cedi stabilization. We are optimistic that with GoldBod leading the way, Ghana’s gold sector will significantly contribute to stabilizing our currency, creating jobs, and increasing national revenue,” said the statement.

“The law has come at the right time. At CLGB, we understand that gold trading is a sensitive and highly regulated industry. We urge all Ghanaians, particularly miners and gold buyers, to support GoldBod. Supporting this initiative will allow us to maximize the economic potential of our natural resources. The CLGB and its members are ready to collaborate with GoldBod in this important effort,” the statement continued.

Ghana is one of Africa’s leading gold producers, and CLGB plays a vital role in streamlining the operations of gold buyers in the country, with a strong network of over 500 certified members.

The Chamber has expressed its willingness to partner with GoldBod in the fight against gold smuggling.

“This collaboration is essential to ensure that Ghana’s gold resources are fully accounted for, properly valued, and legally processed. We will continue to offer solutions to guide policy and address any challenges in the implementation of the GoldBod Act, ensuring a smooth transition to this new and transformative structure,” said Mr. Amoah.

The newly-appointed CEO of CLGB is confident that the establishment of GoldBod will lead to greater transparency, regulation, and sustainable growth in the country’s gold sector.

“We are committed to supporting the government’s goals and look forward to a future of shared prosperity through this transformative legislation. We hope to work together to promote sustainable mining practices and improve regulatory oversight,” said Mr. Amoah.