GoldBod
GoldBod (Ghana Gold Board) is a Ghanaian state-owned enterprise and the sole statutory authority for buying, assaying, licensing, and exporting gold and precious minerals in Ghana, serving ASM and large-scale miners, licensed aggregators, refineries, the Bank of Ghana, and global off-takers.
- Company typePrivate
- Founded2025
- HeadquartersAccra, Ghana
- Headcount101–250
- GTM typeB2B
- OfferingServices
What GoldBod does
GoldBod (Ghana Gold Board) is a Ghanaian state-owned enterprise established in April 2025 under the Ghana Gold Board Act, 2025 (Act 1140), operating as the sole statutory authority with exclusive rights to buy, sell, weigh, grade, assay, value and export gold and other precious minerals in Ghana. It succeeded the Precious Minerals Marketing Company (PMMC) and serves artisanal and small-scale miners, large-scale mining companies, licensed aggregators and buyers, refineries, jewellery manufacturers, the Bank of Ghana, and global gold off-takers. The organisation was seeded with $279 million USD from the Government of Ghana and in its first calendar year purchased $14 billion worth of gold, contributing to Ghana's record $21 billion in gold exports for 2025.
GoldBod's technology stack comprises a digital licensing portal for license applications and management, a proprietary assaying system for gold purity verification, LBMA-aligned pricing infrastructure tied to the London Bullion Market Association's AM and PM benchmarks, and a blockchain-based gold tokenisation capability enabling fractional ownership of physical gold. It operates through a tiered distribution network of licensed Aggregators, Self-Financing Aggregators, Tier 1 and Tier 2 Buyers, Refineries, and Jewellery Fabricators, supplemented by wholly-owned subsidiaries GoldBod Jewellery Limited and Precious Jewelry Limited (PJL), the latter running Ghana's first 24/7 digital gold showroom.
Revenue is generated through five streams: trading margins on gold purchases and exports to global off-takers, licensing fees across eight license categories (ranging from GHS 5,000 to USD 500,000), assaying services for purity verification, jewellery retail sales via the digital showroom, and vault storage fees. The organisation also partners with Gold Coast Refinery (15% carried interest, 500kg/day capacity) and Rand Refinery to enable local refining to 999.99 purity, with a stated goal of LBMA accreditation by 2030 under the Ghana Accelerated National Reserve Accumulation Programme (GANRAP) targeting 3 tonnes of weekly gold purchases and 15-month import cover by end of 2028.
GoldBod firmographics
Firmographics- Name
- GoldBod
- Legal name
- Ghana Gold Board
- Website
- https://goldbod.gov.gh
- Company type
- Private
- Founded year
- 2025
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- GoldBod (Ghana Gold Board) is a Ghanaian state-owned enterprise and the sole statutory authority for buying, assaying, licensing, and exporting gold and precious minerals in Ghana, serving ASM and large-scale miners, licensed aggregators, refineries, the Bank of Ghana, and global off-takers.
- Ownership category
- akta.pro rank
GoldBod industry classification
Industry- Product category
- Gold Trading and Mineral Regulation
- NAICS
- Jewelry and Silverware Manufacturing (33991), Jewelry Retailers (458310)
- SIC
- Gold And Silver Ores (1040), Retail-Jewelry Stores (5944)
- akta.pro primary industry
- Gold Mining (IMAKAEAA)
- akta.pro secondary industries
- Precious Metals Minting & Bullion Products (IMAKAEAJ), Fine Jewelry Wholesale & Trading (CRAKAAAL), Ethical/Sustainable Fine Jewelry (Responsible Sourcing/Traceability) (CRAKAAAM)
Keywords
Where GoldBod is headquartered
LocationHeadquarters
- HQ city
- Accra
- HQ country
- Ghana
- HQ region
- Africa
Offices1 record
Markets served
GoldBod business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Gold Trading and Export: GoldBod purchases gold from licensed aggregators and miners, then exports gold to off-takers globally to generate foreign exchange for Ghana and build gold reserves at the Bank of Ghana. Revenue comes from the margin between purchase and sale prices.
- Licensing Fees: GoldBod generates revenue from licensing fees for aggregators, buyers (Tier 1 and Tier 2), refineries, and jewellery/fabrication operators. Fees include application processing fees, license fees, and annual renewal fees.
- Assaying Services: GoldBod provides credible assay services for all gold and other precious minerals exported from or brought into Ghana for accurate purity measurements and valuation.
- Jewellery Sales: Through subsidiary Precious Jewelry Limited (PJL), GoldBod sells authentic, customised and high-quality gold, diamond, and silver jewellery to clients in and outside Ghana. Also operates Ghana's first 24/7 digital gold showroom.
- Vault Services: GoldBod provides secured gold storage services for diverse clients, generating fees from safe-keeping of gold and precious minerals.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Annual | Refinery License - for establishing, operating and maintaining gold refineries |
| One time/ perpetual license | Annual | Jewellery/Fabrication License A - for sole proprietors |
| One time/ perpetual license | Annual | Jewellery/Fabrication License B - for private companies limited by shares |
| One time/ perpetual license | Annual | Jewellery/Fabrication License C - for private companies with foreign interest |
| One time/ perpetual license | Annual | Buyer License Tier 1 - purchase gold from licensed miners |
| One time/ perpetual license | Annual | Buyer License Tier 2 - purchase gold from miners or Tier 1 buyers |
| One time/ perpetual license | Annual | Aggregator License - purchase and aggregate gold with seed financing from GoldBod |
| One time/ perpetual license | Annual | Self-Financing Aggregator License - purchase and aggregate gold with own financing |
| Unit Pricing | Pay-as-you-go | Gold purchase pricing - based on LBMA benchmarks |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels5 records
GoldBod product offering
Product offeringCore offering
GoldBod (Ghana Gold Board) is the sole statutory authority in Ghana with exclusive rights to buy, sell, weigh, grade, assay, value and export gold and other precious minerals. It operates as the central regulator and trader of Ghana's gold sector, licensing aggregators, buyers, refineries, and jewellery manufacturers; purchasing gold from licensed intermediaries and large-scale miners for export to global off-takers; and accumulating reserves for the Bank of Ghana. It also runs a wholly-owned jewellery subsidiary (GoldBod Jewellery Limited / Precious Jewelry Limited) that sells gold, diamond, and silver jewellery via Ghana's first 24/7 digital gold showroom.
Product overview
GoldBod (Ghana Gold Board) is Ghana's sole statutory authority with exclusive rights to buy, sell, weigh, grade, assay, value and export gold and other precious minerals in Ghana. The organization operates as a platform-plus-licensing framework encompassing core services (gold trading and aggregation, assaying, licensing, diamond operations via Kimberley Process, vault services, refining/fabrication/minting), a subsidiary (GoldBod Jewellery Limited selling gold/diamond/silver jewelry), and digital offerings (gold tokenisation via blockchain, 24/7 digital showroom). GoldBod's licensing business offers tiered license categories (Aggregator, Self-Financing Aggregator, Tier 1/2 Buyers, Refinery, and three tiers of Jewellery/Fabrication licenses) for formalizing Ghana's ASM and LSM gold sectors. The organization drives the Ghana Accelerated National Reserve Accumulation Programme (GANRAP) targeting 3 tonnes of weekly gold purchases, and partners with Gold Coast Refinery and Royal Ghana Gold Refinery for local refining to 999.99 purity with LBMA Good Delivery standards as the goal.
Differentiator
Problem solved
Functional benefit
Products and services
- Gold Trading and Aggregation Services
- Assaying Services
- Aggregator License
- Self-Financing Aggregator License
- Buyer License (Tier 1)
- Buyer License (Tier 2)
- Refinery License
- Jewellery/Fabrication License A
- Jewellery/Fabrication License B
- Jewellery/Fabrication License C
- Diamond Operations (Kimberley Process Certification Scheme)
- Vault Services
- Refining, Fabrication and Minting Services
- GoldBod Jewellery (via GoldBod Jewellery Limited / Precious Jewelry Limited)
- GoldBod Digital Gold Showroom and E-Commerce Platform
- Mining Support Services
Quantifiable outcome
- $14 billion gold purchased in first year of operation, with $20 billion target for 2026
- +4 more outcomes
Companies that use GoldBod
Customer profileNamed customers4 records
Segments5 records
Ideal customer profiles5 records
GoldBod technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
GoldBod partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered core, secondary and minor.
- Ghana Chamber of MinescoreLandmark 30% gold offtake agreement effective July 1, 2026. Large-scale mining companies will sell 30% of their gold output to GoldBod in doré form at 0.55% discount, in Ghana cedis at Bank of Ghana Reference Rate. This partnership drives the Ghana Accelerated National Reserve Accumulation Program (GANRAP).
- London Bullion Market Association (LBMA)coreLBMA recognised Ghana's growing strategic role in the global precious metals market and committed to working with GoldBod on developing internationally aligned traceability systems and compliance frameworks for ASM sector. LBMA pledged support for Ghana's LBMA accreditation ambitions.
- Ghana Armed Forces (Army Engineering Regiment)corePartnership for nationwide Land Reclamation, Rehabilitation and Reforestation programme estimated at GH¢36.35 million. Ghana Army Engineering Regiment will undertake civil engineering works including land reshaping, grading and combustion. First phase targets 50 hectares of Tano Nimiri Forest Reserve.
- Forestry CommissioncorePartnership for national land reclamation project. Forestry Commission leads afforestation, authorisation and ecosystem restoration efforts. Committed to restoring degraded sections of Tano Nimiri Forest Reserve.
- Royal Ghana Gold RefinerysecondaryGoldBod CEO toured Royal Ghana Gold Refinery in Accra to assess facility readiness for potential refining services agreement to process locally purchased ASM gold. Technical consultant recommended additional equipment acquisition before formal partnership.
- Ministry of Finance and Ministry of Lands and Natural ResourcescoreGovernment ministries working jointly with GoldBod on the 30% offtake agreement with large-scale miners. The arrangement is structured under joint direction of both ministers to ensure Ghana achieves LBMA accreditation by 2030.
- Gold Coast RefinerycoreLandmark partnership enabling Ghana to refine gold locally for the first time since independence. GoldBod holds 15% free carried interest in Gold Coast Refinery which has capacity to refine 500kg of gold per day. Partnership aims to achieve LBMA accreditation and process at least 30% of Ghana's gold output domestically.
- Rand Refinery (South Africa)corePartnership with Gold Coast Refinery and GoldBod to enable local gold refining operations. Rand Refinery provides technical expertise and endorsement for Ghana's LBMA accreditation ambitions.
- World Gold CouncilcoreWorld Gold Council CEO David Tait visited GoldBod to discuss transforming Ghana's gold sector, focusing on formalising ASM, establishing traceability systems, and developing sustainable processing plants. Collaboration aims to create jobs, enhance local value chains, and improve governance.
- Bank of GhanacorePartner in GANRAP program. Gold purchased by GoldBod is refined locally and delivered to Bank of Ghana as part of the country's gold reserves. GoldBod uses Bank of Ghana Reference Rate for all gold pricing calculations.
- Bawa-Rock LtdsecondaryAggregator agreement between GoldBod and Bawa-Rock Ltd for purchase and aggregation of gold from licensed miners and buyers for supply to GoldBod.
- Precious Jewelry Limited (PJL)coreGoldBod subsidiary that sells authentic, customised and high-quality gold, diamond, and silver jewellery to clients. Operates Ghana's first 24/7 digital gold showroom.
- Ghana Standards Authority (GSA)secondaryGoldBod and GSA advancing national partnership on gold scale standard and calibration. GSA certifications required for refinery license applicants.
- Ghana Atomic Energy Commission (GAEC)secondaryGAEC certifications required for refinery license applicants as part of operational requirements.
- Women of Valour ProgrammeminorGoldBod Jewellery Limited offered promotional discounts on jewellery purchases to event attendees as part of Ghana Heritage Month marketing campaign. No financial sponsorship.
Scale indicators10 records
Recent moves6 records
Expansion highlights6 records
GoldBod competitors and assessment
Company assessmentBroad incumbents
- Perth Mint: Western Australia state-owned precious metals mint and refinery offering investment-grade bullion, coin programmes, and depositories. Comparable to GoldBod's minting and refining mandate, particularly through GoldBod Jewellery Limited and the planned GoldBod coin/tablet product line.
- PAMP Suisse: Switzerland-based LBMA-accredited precious metals refiner and one of the largest global bullion producers. Comparable to the refining leg of GoldBod's value chain, especially relevant as GoldBod pursues LBMA Good Delivery accreditation through its Gold Coast Refinery partnership.
- Argor-Heraeus: Swiss-based LBMA-accredited precious metals refiner serving global central banks, ETFs, and industrial customers. Comparable to GoldBod's refining and bullion ambition given its LBMA Good Delivery status — a benchmark GoldBod explicitly targets to reach by 2030.
- Royal Mint: UK government's historic precious metals mint and refiner with diversified bullion, coin, and tokenisation offerings. Comparable to GoldBod as an established state-linked precious-metals authority with refining, minting, and consumer-facing digital gold products — though operating at much greater scale and product breadth.
Direct peers
- Rand Refinery: South Africa's largest precious metals refinery and a core technical partner of GoldBod under the January 2026 partnership for LBMA accreditation support. Operates a comparable refining-and-bullion-trading model and supplies Good Delivery bars into global markets, making it the closest functional peer to GoldBod's refining ambitions.
- State Mining Corporation (STAMICO) Tanzania: Tanzania's state-owned mining corporation engaged in mineral trading and equity holdings across the gold value chain. Comparable to GoldBod as a state-led entity with mandate to formalise ASM, hold equity in local refineries, and capture mineral export value domestically.
- Minerals Marketing Corporation of Zimbabwe (MMCZ): Zimbabwe's state-owned minerals marketing authority with statutory responsibility to market and trade the country's mineral output, including gold. Directly comparable to GoldBod as a state gold-trading monopoly operating a centralised marketing, licensing, and export mandate in a neighbouring African jurisdiction.
Others
- World Gold Council: Industry body for the gold sector that develops responsible-sourcing standards and market-development initiatives. Engaged with GoldBod through formal CEO-level dialogue on ASM formalisation, traceability, and sustainable processing-plant development, serving as an industry-shaping partner rather than a direct peer.
- London Bullion Market Association (LBMA): Global precious metals trade association that sets Good Delivery standards and accredits refiners. Not a competitor but a critical ecosystem partner — GoldBod has formal LBMA recognition and is collaborating on traceability frameworks to support Ghana's LBMA accreditation pathway.
Regional players
- Minerals Commission of Ghana: Ghanaian statutory body responsible for regulating and promoting sustainable mining. Operates within the same national ecosystem as GoldBod with overlapping licensing and oversight functions but focuses on mining activity rather than gold trading, making it a regulatory-side peer rather than a commercial competitor.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
GoldBod social profiles
Digital presenceGoldBod compliance and trust
Trust signalCompliance7 records
GoldBod financial estimates
Financial estimateRevenue estimate
Valuation estimate
GoldBod leadership team
Management profileNumber of profiles
Profiles3 records
GoldBod subsidiaries and ownership
Company hierarchySubsidiaries2 records
GoldBod funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
GoldBod M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about GoldBod
What does GoldBod do?
GoldBod (Ghana Gold Board) is the sole statutory authority in Ghana with exclusive rights to buy, sell, weigh, grade, assay, value and export gold and other precious minerals. It operates as the central regulator and trader of Ghana's gold sector, licensing aggregators, buyers, refineries, and jewellery manufacturers; purchasing gold from licensed intermediaries and large-scale miners for export to global off-takers; and accumulating reserves for the Bank of Ghana. It also runs a wholly-owned jewellery subsidiary (GoldBod Jewellery Limited / Precious Jewelry Limited) that sells gold, diamond, and silver jewellery via Ghana's first 24/7 digital gold showroom.
Is GoldBod a public or private company?
GoldBod is a private company. It is classified as state government owned and is currently operating.
When was GoldBod founded?
GoldBod was founded in 2025. It employs 101 to 250 people.
Where is GoldBod based?
GoldBod is headquartered in Accra, Ghana, in the Africa region.
How does GoldBod make money?
Five revenue lines are on record. Gold Trading and Export is the primary driver. The others are licensing Fees, assaying Services, jewellery Sales and vault Services.
Who are GoldBod's main competitors?
Broad incumbents on record are Perth Mint, PAMP Suisse, Argor-Heraeus and Royal Mint. Direct peers are Rand Refinery, State Mining Corporation (STAMICO) Tanzania and Minerals Marketing Corporation of Zimbabwe (MMCZ). Others are World Gold Council and London Bullion Market Association (LBMA). Minerals Commission of Ghana is listed as a regional player.
Does GoldBod have an API?
No public API is recorded for GoldBod.
What industry is GoldBod in?
GoldBod's product category is Gold Trading and Mineral Regulation. Its primary akta.pro industry code is IMAKAEAA, Gold Mining, with a secondary code of IMAKAEAJ, Precious Metals Minting & Bullion Products. Its NAICS code is 33991 and its SIC code is 1040.