GoldBod Suspends Gold Buyer’s Licence Over Illegal Pricing
The Ghana Gold Board (GoldBod) has suspended the operating licence of Evanex Gold Enterprise, a licensed Tier 2 gold buyer, after an investigation found the company had breached market rules by engaging in unauthorised pricing practices.
In a statement on Thursday, the regulator directed all licensed traders, miners and the public to cease transactions with Evanex “forthwith”, stressing that the suspension took effect immediately.
The decision is part of a broader effort to sanitise the gold trading sector and enforce compliance with licensing conditions. “The findings were serious enough to warrant an immediate suspension,” GoldBod said, warning that other operators found in breach would face similar sanctions.
The suspension comes amid renewed scrutiny of Ghana’s gold sector, which has faced persistent challenges ranging from under-declaration of exports to illegal small-scale mining. Authorities have sought to tighten oversight as the government pushes to leverage gold as a stabilisation asset in the wake of currency and fiscal pressures.
GoldBod reiterated its commitment to accountability and transparency in managing the sector, assuring stakeholders that it would continue to enforce standards to ensure a fair and credible trading environment.
