Ghana gold: Foreigners ordered to exit local trading market to boost revenue

Foreigners are however allowed to buy gold directly from GoldBod, a new state regulator.

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It follows the enactment of a new law earlier this month that grants exclusive authority of gold mining to a new state body, the Ghana Gold Board (GoldBod).

"All foreigners are hereby notified to exit the local gold trading market not later than 30th April, 2025," said GoldBod spokesperson Prince Kwame Minkah in a statement.

Ghana is Africa's largest gold producer and the sixth largest in the world, but it is struggling to address widespread illegal gold mining, locally called "galamsey".

The mineral-rich West African country has been facing harsh economic times with a high cost of living. It is the world's second largest cocoa producer but sees little of the profits from chocolate.

https://www.bbc.com/news/articles/cpvr0x3mkl1o

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