Ghana tightens gold exports in push to keep more value at home

What the report says

Ghana has introduced new export rules requiring certain gold exporters to refine doré locally before sending it abroad, a policy that took effect on September 1, according to Al Jazeera. The measure was issued by the Ghana Gold Board (GoldBod) and applies to Self-Financing Aggregators buying gold under agreements with approved offtakers. GoldBod says the change is meant to keep more of the value from Ghana’s gold sector inside the country.

The directive is part of the 2025 Ghana Gold Board Act, which gave GoldBod authority over buying, assaying, refining and exporting gold. Export applications will only be processed once GoldBod confirms local refining, fees have been paid and other regulatory requirements are met. The board also warned that exporting unrefined doré could lead to rejected export approvals, suspended or revoked licences and other penalties.

People involved in the industry told Al Jazeera the policy could help Ghana capture more margins that have traditionally gone to overseas processors, while also creating jobs and supporting downstream industries such as jewellery manufacturing. Some companies, however, face short-term disruption because existing contracts may need to be amended on short notice.

The shift comes as Ghana seeks to expand its domestic gold industry. The country has four licensed refineries and has seen strong growth in gold output and export earnings in recent years, which has increased pressure on the government to retain more economic benefit at home. More generally, the move fits a broader push by resource-rich African countries to add local value before exporting raw materials.