ACCRA, Feb. 17 (Xinhua) -- The Ghana Gold Board (GoldBod) has announced the suspension of applications for some categories of gold-buying licenses in what was described as part of a strategic reform process aimed at strengthening the country's gold buying regime.
The suspension affects new applications for tier 1 and tier 2 buying licenses as well as the self-financing aggregator license, according to a GoldBod statement issued late Monday.
Ghana is Africa's largest gold producer.
"During this period, the aggregator license will be the only gold trading licensing category open for new applications," the statement said, adding that applications submitted before the announcement will continue to be processed.
"The board will expedite the review and issuance of pending buying licensing applications, provided applicants meet all regulatory requirements and have fulfilled the necessary fee obligations," the statement said.
The suspension "forms part of broader measures to facilitate impending reforms to the national gold buying framework," it said. "The reforms are designed to enhance transparency, improve compliance, strengthen traceability, and ensure greater value retention within Ghana's gold trading ecosystem." ■
