Ghana Demands Foreign Gold Traders Leave the Country
Ghana has ordered foreigners to leave the gold trading market. These traders had been purchasing precious metals from small-scale miners and reselling them, profiting from the price difference. The leading African gold producer is shutting down the system in which local and foreign companies with export licenses https://xrust.ru/ were allowed to buy and export gold.
According to a statement released last Monday, under the new trading system, the sole buyer/reseller is GoldBod. Previously issued licenses have been annulled. Foreigners have been instructed to exit the local gold trading market by April 30. Continued operations will only be possible through GoldBod.
The press reminds us that back in January, Ghana’s Ministry of Finance stated that the creation of GoldBod would enable the country to gain greater benefit from gold sales while maintaining the stability of its national currency. Ghana’s gold exports in 2024 increased by 53.2%. The dollar value exceeded $11.6 billion, with $5 billion coming from the legal production of small-scale miners.
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