The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has explained that Bawa Rock Company Limited was the only firm that satisfied the eligibility requirements for an aggregator licence during GoldBod’s inaugural year of operations in 2025.
Addressing concerns raised by the Minority in Parliament over the licensing process on Joy FM’s News File programme on Saturday, January 3, 2026, Mr. Gyamfi stated that assertions suggesting GoldBod intentionally created a monopoly stem from a misunderstanding of the Board’s gold trading and licensing framework.
According to him, GoldBod operates a four-tier gold buying licence regime comprising tier one buyers, tier two buyers, self-financing aggregators, and aggregators. He stressed that all four categories are authorised to purchase gold on behalf of GoldBod, not aggregators alone.
He explained that tier one buyers are grassroots operators licensed to buy gold directly from licensed small-scale miners, while tier two buyers may purchase from both miners and tier one buyers. Self-financing aggregators, he noted, use their own capital to buy gold for GoldBod, unlike aggregators who are largely financed by the Board to undertake purchases. Read Also: From Promises To Practice: Ministers Challenge Ghana To Act On Climate And ESG
Mr. Gyamfi disclosed that in 2025, GoldBod issued 900 gold buying licences in total—269 to tier one buyers, 578 to tier two buyers, 52 to self-financing aggregators, and one aggregator licence.
He revealed that although 31 applications were submitted for the aggregator category, only Bawa Rock Company Limited met the required criteria for approval during the period under review.
The GoldBod CEO further clarified that aggregator licence approvals are not determined by him in his capacity as Chief Executive. He explained that while management evaluates applications and makes recommendations, the Governing Board of GoldBod is the body mandated to approve or reject licences.
He added that the aggregator licensing window remains open, emphasising that the number of approved aggregators can change over time. Licences, he said, may be suspended or revoked where necessary, and additional applicants can be approved once they meet the stipulated standards.
The clarification follows criticism from the Minority in Parliament, who questioned the decision to license Bawa Rock as the sole aggregator, arguing that it could undermine competition and transparency in the artisanal gold sector. GoldBod has, however, maintained that its processes are transparent and that all licensing decisions are guided strictly by regulatory and eligibility requirements. https://theexclusiveonline.com/
