Companies licensed to purchase artisanal gold for the Ghana Gold Board (GoldBod) have reportedly faced delays of up to three weeks in receiving funds, forcing some operators to suspend purchases or borrow money to continue their businesses. The development comes despite strong gold prices on the international market.
According to industry sources cited by Reuters, the delays have affected gold-buying activities in areas including the Ashanti and Western Regions. Some buyers have reportedly reduced their operations because they do not have sufficient funds available to purchase gold from suppliers.
The funding situation follows GoldBod’s shift away from direct financing by the Bank of Ghana. The agency has increasingly relied on commercial banks and gold off-takers to provide liquidity for its gold-purchasing operations.
GoldBod, however, has rejected claims that it is facing a funding shortfall. The state agency says its trade-financing arrangements remain operational and that purchases of artisanal and small-scale mining gold are continuing.
GoldBod was established in 2025 with exclusive responsibility for purchasing, selling and exporting artisanal gold as part of efforts to tackle gold smuggling and increase Ghana’s foreign-exchange earnings. The reported payment delays could therefore attract attention because of the agency’s important role in the country’s gold trade and broader economic strategy.
