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Asaase News has learned that the Ghana Gold Board (GoldBod) is set to take over the old Bank of Ghana (BoG) building to consolidate its operations and establish a physical presence in the capital.
Asaase News source familiar with this development says discussions are underway to repurpose the historic facility, formerly occupied by the central bank, to house the newly established GoldBod as it ramps up activities in the country’s gold and other precious minerals sector.
GoldBod, which was recently established to oversee and regulate gold trading and export operations, is part of a broader government strategy to formalize and restructure Ghana’s mineral trade.
With its mandate covering assay, export licensing, and gold purchasing, officials believe the agency requires a central, secure location to coordinate its growing responsibilities.
If confirmed, the move would mark a symbolic transition in managing Ghana’s gold resources, from a central banking-led structure to a dedicated regulatory institution focused exclusively on the mineral sector.
While no official announcement has been made, internal sources indicate the decision aligns with the Mahama administration’s efforts to enhance transparency and efficiency in gold transactions, particularly amid concerns over illicit trade and undervaluation in the sector.
The old Bank of Ghana building in the heart of Accra Central has remained mainly unused since the central bank moved to its new headquarters at Ridge.
The GoldBod
The Ghana Gold Board (GoldBod) is the sole authority with exclusive rights to buy, sell, weigh, grade, assay, value, and export gold and other precious minerals in Ghana. It functions under the oversight and supervision of the Ministry of Finance of the Republic of Ghana.
GoldBod is a body corporate established by an Act of Parliament (ACT 1140) in 2025 to oversee, regulate, and undertake the buying, selling, assaying, refining, exporting, and other related activities concerning Gold and other Precious Minerals in Ghana.
Per section 78 of ACT 1140, GoldBod took over the rights, obligations, assets, liabilities, and workforce of the Precious Minerals Marketing Company (PMMC) Limited, an offshoot of the Ghana Diamond Marketing Board.
In 1963, the Ghana Diamond Marketing Board was established and charged with purchasing and marketing Ghana’s diamonds. Legislative Instrument (LI) 401 incorporated the Ghana Diamond Marketing Board as a state-owned enterprise (SOE) in 1965.
Upon promulgating the diamonds decree (NRCD 32) in 1972, LI 916 was enacted to change the company’s name to Diamond Marketing Corporation.
In 1989, PNDC Law 219 was enacted to yet again change the Company’s name to the Precious Minerals Marketing Corporation, which has enhanced functions to grade, assay, and value gold, diamonds, and other precious minerals of the country.
In 2000, the Corporation was converted by the Statutory Corporations Conversion to Companies Act (ACT 461) to a Limited Liability Company to operate under the Ghana Companies Code Act (ACT 179) 1963 as Precious Minerals Marketing Company (PMMC) Limited, with the same functions.
In 2016, the PMMC was appointed the national assayer by the government of Ghana. To strengthen industry regulation and optimize national benefits, the Ghana GoldBod was established on 2 April 2025 to restructure and streamline the precious mineral trading sector of Ghana.
The GoldBod initiative is the product of extensive stakeholder consultations and aims to maximize foreign exchange inflows, gold reserve accumulation, and value addition for sustainable growth and transformation.
Reporting by Wilberforce Asare in Accra
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