The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has clarified that Bawa Rock Company Limited was the only applicant to meet the eligibility criteria for an aggregator licence during GoldBod’s first year of operations in 2025.
Speaking on Joy FM’s Newsfile on Saturday, January 3, 2026, Mr. Gyamfi addressed concerns raised by the Minority in Parliament over the licensing process, saying claims of a deliberate monopoly are based on a misunderstanding of GoldBod’s gold trading and licensing system.
According to Mr. Gyamfi, GoldBod operates a four-tier gold buying licence system, comprising tier one buyers, tier two buyers, self-financing aggregators, and aggregators. All categories are authorized to purchase gold on behalf of GoldBod, not just aggregators.
- Tier one buyers: Licensed to buy gold directly from small-scale miners.
- Tier two buyers: Can purchase from miners and tier one buyers.
- Self-financing aggregators: Use their own funds to buy gold for GoldBod.
- Aggregators: Primarily funded by GoldBod to purchase gold.
In 2025, GoldBod issued a total of 900 buying licences: 269 tier one, 578 tier two, 52 self-financing aggregators, and only one aggregator licence. Out of 31 applications for the aggregator category, only Bawa Rock met the necessary eligibility standards.
Mr. Gyamfi emphasized that the CEO does not approve aggregator licences. Management can only make recommendations, while the governing board holds sole authority to approve or reject applications.
He added that the aggregator licensing process remains open and dynamic. Licences can be suspended or revoked, and additional applicants may be approved once they meet the required criteria.
The CEO’s comments follow scrutiny from the Minority in Parliament, who questioned the decision to license only Bawa Rock, arguing it limited competition and transparency in the artisanal gold sector. GoldBod maintains that all licensing decisions are transparent and strictly based on regulatory requirements.
Story by Doe Benjamin Kofi Lawson