The Ghana Gold Board (GoldBod) has rejected reports that funding constraints are disrupting gold purchases by licensed buyers, saying its trade-financing arrangements remain operational and that purchases of artisanal and small-scale mining (ASM) gold are continuing.The clarification follows reports on August 24, 2026, which suggested that some companies licensed to purchase gold for GoldBod had experienced funding delays of up to three weeks, with some operators reportedly suspending purchases or resorting to borrowing to finance their activities.In a rejoinder on Monday, August 24, GoldBod said the report appeared to conflate its own trade-financing arrangements with separate credit arrangements between licensed aggregators and downstream buyers.It said the distinction was important because direct financing from GoldBod is available only to licensed aggregators, rather than every company operating under its gold-buying framework.Gold purchases remain ongoing’Despite the concerns raised in the reports, GoldBod maintained that its statutory operations remain fully active.“The GoldBod maintains a robust financial standing and continues to purchase and aggregate Artisanal and Small-scale Mining (ASM) gold through its licensed buyers in accordance with its statutory mandate,” the statement said.The Board said it remained committed to financial discipline, accountability, transparency and prudent risk management while safeguarding public resources and maintaining the integrity of Ghana’s formal gold-trading system.It therefore rejected suggestions that it had abandoned or was incapable of financing its statutory gold-purchasing mandate and asked Reuters to update its reporting to reflect the clarification.Two aggregators receive direct financingGoldBod said its licensing framework has four categories of participants — Aggregators, Self-Financing Aggregators, Tier 1 Buyers and Tier 2 Buyers.According to the statement by GoldBod, there are currently two licensed aggregators operating under the framework and eligible to receive direct GoldBod trade financing to purchase and aggregate gold for onwards delivery to the Board.It said any difficulty encountered by Tier 1 or Tier 2 buyers in accessing working capital from an aggregator should therefore not be interpreted as a financing failure by GoldBod.“The GoldBod’s institutional responsibility is to ensure that its approved financing is properly deployed, monitored and recovered within the applicable financing and risk-management framework,” the statement said.Downstream buyers not automatically entitled to fundingGoldBod further explained that licensed buyers outside the aggregator category do not have an automatic entitlement to indirect financing from the Board.Where such buyers require financing to purchase gold for onward supply through an aggregator, the financing is arranged directly with the relevant aggregator.Such arrangements, GoldBod said, constitute commercial credit transactions, with aggregators determining whether to extend, vary, suspend or decline financing based on factors including the buyer’s creditworthiness, outstanding obligations, available security and the aggregator’s risk appetite.The Board consequently rejected any suggestion that a downstream buyer’s inability to access or draw down such financing amounted to a shortfall in GoldBod’s funding.New controls introducedGoldBod also pointed to new financing and risk-management controls introduced on July 22, 2026, which took effect on August 1.The measures, it said, were intended to strengthen accountability, improve credit-risk management and protect public funds within the gold-purchasing chain.Under the revised framework, eligible buyers seeking financing through an aggregator must hold a valid GoldBod licence and undergo Know Your Customer (KYC), due-diligence and creditworthiness assessments.They are also required to sign formal trade-financing agreements, comply with reporting and repayment requirements and, where necessary, provide security such as bank guarantees, advance payment guarantees or insurance bonds.Existing beneficiaries were similarly required to regularise their participation in the financing programme and settle outstanding obligations within the prescribed period.GoldBod said the tighter requirements should not be viewed as a withdrawal of financial support but as measures to ensure that public funds are extended only to eligible and creditworthy participants.