ACCRA: Ghana has banned foreigners from trading in its local gold market starting May 1, aiming to curb illegal mining, stabilise the cedi, and boost reserves.
All foreign traders must exit by April 30.
Only state-run Ghana Gold Board (GoldBod) may now regulate and sell artisanal and small-scale gold.
The crackdown targets years of unauthorised activity, largely by Chinese nationals, accused of smuggling and environmental damage.
“This sends the clearest signal yet to foreign actors skirting local laws,” said mining consultant Nana Asante Krobea. “If enforced, it could restore order and raise state revenue.”
The move is the first major step by President John Mahama’s government to deliver on anti-galamsey pledges in a sector that provides livelihoods for over a million but has long been mired in chaos. – AFP
