The Chamber of Licenced Gold Buyers (CLGB) has secured a waiver of Environmental Protection Authority (EPA) fees for Tier 1 gold buying licences and is negotiating a fee reduction for Tier 2 licences.
This development is in line with efforts aimed at lowering operational costs and encouraging formalisation in the sector.
The initiative, reached through a partnership with the Ghana Gold Board (GOLDBOD), is expected to make licencing more accessible for small- and medium-sized gold trading businesses, particularly in the downstream market.
“We propose working together to achieve the Board’s objectives while also creating economic value for our members,” said the Chamber’s Chief Executive Officer, Kwaku Amoah.
“This is a win for our industry, especially for those operating in rural mining communities.”
The Chamber, which has a footprint across the Ashanti, Western, Central and Northern Regions, said the waiver and possible reduction in EPA fees are part of broader efforts to streamline licencing and ensure environmental compliance without stifling business growth.
Under the new arrangement, Tier 1 licence applicants will benefit from a full EPA fee waiver, while discussions are ongoing to determine a reduced fee structure for Tier 2 licencees.
The policy aims to eliminate financial barriers that have long deterred gold buyers from regularising their operations.
In a recent meeting with GOLDBOD, led by its CEO Sammy Gyamfi, the Chamber welcomed this new licencing regime and expressed support for its implementation.
The two bodies also discussed challenges facing gold traders, including EPA regulations and enforcement timelines.
The Ghana Gold Board has received over 200 applications for Tier 2 licences. By June 21, 2025, only licenced buyers will be permitted to purchase gold; violators risk facing regulatory sanctions.
The Chamber of Licenced Gold Buyers and GOLDBOD’s partnership is to ensure a smooth licencing process and promote a responsible and sustainable gold trading sector in Ghana.
The Chamber’s leadership and members, including Founder Job Osei Tutu and Co-Founder Daniel Sarpong, praised the GOLDBOD for its policy direction.
Traditional leader Nana Adjei Sikapa (Omanhene of Nsuta Daboase), alongside other members such as Michael Kojo Fynn, Emmanuel Simpson and Eunice Gariba, attended the engagement.
For those seeking to apply for or renew Tier 1 or Tier 2 buying licences, the Chamber said detailed guidance is available through its official channels.
Source: thebftonline.com
