Ghana, one of Africa’s top gold producers, has announced a decisive policy shift: beginning May 1, 2025, foreign nationals will no longer be allowed to participate in the buying and selling of gold within the country. This bold move is part of broader government efforts to safeguard local resources, curb illegal mining, and ensure that economic benefits from the gold sector remain within Ghanaian hands.
Minister for Lands and Natural Resources, Samuel Abu Jinapor, made the declaration during a recent press conference in Accra, stating that the new directive will bolster regulation and accountability across the artisanal and small-scale mining (ASM) sector, which has long been plagued by smuggling and environmental degradation.
The ban specifically targets foreigners operating informally or through local proxies, a practice that has often led to exploitation, undervalued exports, and loss of revenue. Local traders, cooperatives, and licensed Ghanaian entities will retain exclusive rights to engage in gold transactions under the revised framework. 
Gold is a cornerstone of Ghana’s economy, contributing over 40% of the country’s export earnings. However, the presence of unregulated foreign actors has been a persistent concern, drawing criticism from local miners and stakeholders demanding greater control over natural resources.
Ghana’s move to restrict gold trading to its citizens is a major policy milestone aimed at preserving national wealth, empowering local businesses, and asserting sovereignty over its mineral assets. As the ban takes effect this May, the world watches how this shift will reshape one of Africa’s most lucrative industries.
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