Purchasing gold directly from the Ghana Gold Board (GGB) is the only legal, government-approved method for making large-scale purchases from Ghana’s small-scale mining sector. The GGB took over the business functions of the former Precious Minerals Marketing Company (PMMC), becoming the single buyer from licensed small-scale miners and the sole seller for export.
The formal protocol is outlined here, step by step.
- Ensure you’re dealing with the authentic Ghana Gold Board.
Scams are very common. Before anything else:
Confirm you are using the government portal (as of mid-2026, check official Ghana government channels for the GGB’s dedicated site; it can also be accessed through the Ministry of Lands and Natural Resources).
Accra Diamond House is located near Kinbu Road (the old PMMC site), in Accra, Ghana.
Never pay money to agents, intermediaries, or “mandates” who promise to facilitate a purchase from GGB outside of the formal process.
If an offer appears too attractive, or if someone requests an advance pay to “register” or “secure allocation,” go away.
- Gather your buyer credentials (KYC/Due Diligence).
The GGB will only transact with fully registered corporate entities. You must provide:
Certificate of Incorporation and Company Profile
Valid business license/tax ID of the buyer’s company
Bank reference letter (from a respectable bank, indicating your financial capacity)
Valid photo ID and proof of address for directors/signatories
Board Resolution Authorizing the Gold Purchase and Identifying the Signatory
GGB conducts background checks. If you are a first-time buyer, expect a thorough screening before any commercial discussions begin.
- Make contact and request the official procedure.
Contact the GGB by official email or phone (available through the Ministry of Lands and Natural Resources or the GGB’s confirmed website). State your intention to purchase gold, attach your introductory documents, and request:
Official buying procedures and regulations for foreign purchasers
A formal invitation to a meeting (if you want to visit).
Documents must be signed in person at the GGB office in Accra, or by an authorized agent. The GGB does not conduct substantial transactions solely by email and wire transfers without in-person verification.
- Understand the product: gold dore bars.
GGB sells raw gold bars that have been analyzed for purity and weight.
The purity of gold ranges from ~92% to 96%, depending on the consignment.
The bars are sealed, stamped, and accompanied by an Assay Certificate from the GGB laboratory (or an approved independent assayer).
You are purchasing an exact weight and purity; the price is calculated using the London Bullion Market Association (LBMA) spot price, minus a refining discount.
GGB establishes minimum purchase quantities (often 50-100 kg, but confirm current policy).
- Sign the Sales and Purchase Agreement (SPA).
Following due diligence, you negotiate and execute an SPA directly with the Ghana Gold Board. The contract stipulates:
Quantity (kg) and purity
Price formula (for example, LBMA AM fixed on the day of payment less X% discount)
Payment terms: irrevocable letter of credit or direct wire transfer to GGB’s authorized account at the Bank of Ghana or an approved commercial bank.
Delivery point (nearly always Kotoka International Airport Bullion Vault in Accra)
Assay and inspection techniques
Law that governs the Republic of Ghana
A GGB-authorized signatory will sign. Insist on checking both the signatory’s mandate and the official corporation seal.
- Pay exclusively into the Ghana Gold Board’s official account.
Important: The bank account will be in the name of the Ghana Gold Board and held at the Bank of Ghana or a government-approved commercial bank. You will receive complete account information as an addendum to the SPA.
Typical method: an irreversible, confirmed Letter of Credit (LC) drawn on a top-tier bank and payable upon presentation of the assay certificate, export permission, and transit documentation.
For minor, spot transactions, direct wire transfer may be acceptable; however, always check with GGB management beforehand.
Never pay into a private or agency account.
Payment is given once the gold has been tested and sealed in your presence, but prior to export.
- Joint assay and inspection.
Before final payment is granted, you (or your designated independent surveyor) will witness:
Weighing the packaged consignment
Assay (for example, XRF analysis) in GGB’s facility or a mutually agreed-upon independent lab in Accra.
The assay certificate is issued and linked to certain bar numbers.
Only once you are happy with the weight and purity do you authorize the release of payment.
- Obtain export documents.
GGB, as the licensed exporter, handles the necessary export papers. You’ll need:
Bank of Ghana Exchange Control Form A2 (for the export of gold)
Mineral Commission Export Permit
Ghana Customs Export Declaration (Customs Entry)
Certificate of Origin (issued by GGB or Ghana Chamber of Mines)
Airway bill and security transport documents (if supplied via air)
Export taxes/royals are typically included in the GGB’s selling price or paid by GGB, but please confirm in the SPA to avoid surprises.
- Transportation and delivery.
Gold is normally secured at the Kotoka International Airport bullion vault before being delivered to your approved secure logistics carrier (such as Brinks, Loomis, or similar). You organize and pay for foreign transportation and insurance.
Handover occurs once all export documentation are cleared and payment has been confirmed in GGB’s account.
You or your agent will sign the final delivery receipt.
- Important warnings.
There are no “governmental allocation” systems. The GGB does not appoint anyone to sell gold on its behalf. Anyone claiming to have a special allotment to sell “Ghana government gold” is probably a fraudster.
All bills and correspondence must be sent directly from GGB, on official letterhead, and verifiable by calling the GGB headquarters.
Third parties should not be charged “registration”, “documentation”, or “processing” costs. The GGB pricing includes everything.
First-time purchasers are required to attend a minimum of one face-to-face meeting.
Always check the official press releases from Ghana’s Ministry of Lands and Natural Resources for the Gold Board’s current functioning status, as institutional changes can occur.
