The Ghana Gold Board (GoldBod) has demanded an immediate retraction and on-air apology from Angel 96.1 MHz over what it describes as materially inaccurate claims about its gold buying license fees and expiry timelines.
In a strongly worded rejoinder issued by its Media Relations Officer, Prince Kwame Minkah, GoldBod rejected assertions made during a broadcast on Angel 96.1 MHz that all its buying licenses attract a flat fee of GHS 200,000 and that all licenses and associated fees will expire in May 2026.
According to GoldBod, the claims are “false, misleading and have caused confusion among stakeholders and prospective licensees.”
False GHS 200,000 Claim
GoldBod categorically stated that it has never indicated—either orally or in writing—that any or all of its buying licenses require a flat fee of GHS 200,000.
“The allegation that prospective licensees must pay a standard GHS 200,000 to obtain a buying license is contrived and untrue,” the statement clarified.
The Board further dismissed claims that existing buying licenses or license fees would automatically expire in May 2026.
It explained that although it is currently engaging stakeholders on proposed reforms—including reviewing categories of buying licenses and exploring the restriction of gold trading to designated centralized locations within mining districts—no final decision has been taken.
“These are proposals only; consultations remain ongoing and no final decisions have been made,” the statement emphasized, adding that all valid existing licenses remain in force until any change is formally enacted through due process and publicly communicated.
GoldBod noted that the ongoing consultations are aimed at strengthening governance and traceability across the gold value chain.
Key objectives of the proposed reforms include:
Reducing hoarding, smuggling and illegal trading;
Lowering operational costs associated with artisanal and small-scale mining (ASM) interventions;
Promoting efficiency, traceability and financial accountability.
The Board assured stakeholders that all feedback gathered during consultations would be carefully considered before any policy or regulatory changes are finalized.
Authoritative Breakdown of License Categories and Fees
To eliminate ambiguity, GoldBod provided the current structure of its buying license categories and associated fees.
Application Fee: GHS 100,000
License Fee: Cedi equivalent of $500,000
Annual Renewal: Cedi equivalent of $200,000
Self-Financing Aggregator
Application Fee: Cedi equivalent of $1,000
License Fee: Cedi equivalent of $10,000
Annual Renewal: Cedi equivalent of $5,000
Application Fee: GHS 2,000
License Fee: GHS 20,000
Annual Renewal: GHS 20,000
Tier 1
Application Fee: GHS 1,000
License Fee: GHS 10,000
Annual Renewal: GHS 7,000
GoldBod stressed that these are the authoritative categories and fees as currently structured, and that any future revisions will be publicly announced following stakeholder consultations and formal approval.
The Board expects Angel 96.1 MHz to:
Broadcast a clear retraction and apology with comparable prominence and duration to the original broadcast;
Publish the corrected statement on its online platforms and link it to GoldBod’s official communication channels;
Refrain from airing or publishing unverified claims in the future without fact-checking with GoldBod’s Media Relations unit.
GoldBod reaffirmed its commitment to transparent and evidence-based engagement with stakeholders and the media throughout the consultation process.
It assured the public that all updates regarding license reforms and related policies will be communicated through official channels and reputable media partners once decisions are finalized.
