GoldBod Seeks Apology Over False Fee Claims

The Ghana Gold Board (GoldBod) has demanded an immediate retraction and on-air apology from Angel 96.1 MHz over what it

describes as materially inaccurate claims regarding its gold buying license fees and alleged expiry timelines.
In a strongly worded rejoinder signed by its Media Relations Officer, Prince Kwame Minkah, GoldBod rejected assertions made during a recent broadcast that all its gold buying licenses attract a flat fee of GHS 200,000 and that all licenses and associated payments will expire in May 2026.
According to the Board, the claims are “false, misleading and have caused confusion among stakeholders and prospective licensees.”
GoldBod categorically stated that it has never indicated either orally or in writing that any or all of its buying licenses require a standard fee of GHS 200,000.
“The allegation that prospective licensees must pay a flat GHS 200,000 to obtain a buying license is contrived and untrue,” the statement clarified.
The Board also dismissed claims that existing buying licenses or license fees would automatically expire in May 2026. It explained that although it is currently engaging stakeholders on proposed reforms—including a review of license categories and the possible restriction of gold trading to designated centralized locations within mining districts—no final decisions have been taken.
“These are proposals only; consultations remain ongoing and no final decisions have been made,” the statement emphasized, adding that all valid existing licenses remain in force until any changes are formally enacted and publicly communicated.
Reform Proposals Still Under Consultation
GoldBod noted that the ongoing stakeholder engagements are aimed at strengthening governance, transparency and traceability across Ghana’s gold value chain.
Among the key objectives of the proposed reforms are:
Reducing hoarding, smuggling and illegal trading;
Lowering operational costs linked to artisanal and small-scale mining (ASM) interventions;
Promoting efficiency, traceability and financial accountability in gold transactions.
The Board assured stakeholders that all feedback gathered during the consultation process would be carefully reviewed before any policy or regulatory adjustments are finalized.
To eliminate ambiguity, GoldBod provided what it described as the authoritative structure of its buying license categories and fees:
Tier A
Application Fee: GHS 100,000
License Fee: Cedi equivalent of $500,000
Annual Renewal: Cedi equivalent of $200,000
Self-Financing 
Application Fee: Cedi equivalent of $1,000
License Fee: Cedi equivalent of $10,000
Annual Renewal: Cedi equivalent of $5,000
Tier 2
Application Fee: GHS 2,000
License Fee: GHS 20,000
Annual Renewal: GHS 20,000
Tier 1
Application Fee: GHS 1,000
License Fee: GHS 10,000
Annual Renewal: GHS 7,000
GoldBod stressed that these are the current approved categories and that any future revisions will be publicly announced following stakeholder consultations and formal approval processes.
The Board is demanding that Angel 96.1 MHz:
Broadcast a clear retraction and apology with comparable prominence and duration to the original broadcast;
Publish the corrected statement on its online platforms and link it to GoldBod’s official communication channels;
Refrain from airing or publishing unverified claims in the future without prior fact-checking with GoldBod’s Media Relations Unit.
GoldBod reaffirmed its commitment to transparent and evidence-based engagement with stakeholders and the media, assuring the public that all updates regarding license reforms and related  policies will be communicated through official channels once decisions are finalized.