Ghana Transaction Locations & Procedure

NO CIF TRANSACTIONS IN GHANA; Cash & Carry ONLY.  See below for Details

*We Do Not Purchase CIF in Ghana* 

Since 2022, Ghana has strictly regulated gold export payment terms, effectively rendering traditional *CIF (Cost, Insurance, and Freight)* settlements non-compliant with national protocols. As of early 2026, these regulations have been further centralized under the *Ghana Gold Board Act of 2025.*  

*Updated Export Protocols (2026)* 

- *Domestic Refining Mandate*: Starting February 1, 2026, all gold must be refined domestically before it can be legally exported.  

- *Letter of Commitment (LOC)*: The Bank of Ghana (BoG) requires all exporters to generate an electronic Letter of Commitment. This acts as a formal guarantee that *100% of the export value* is repatriated into the Ghanaian banking system before the gold leaves the country.  

- *Centralized Authority:* The *Ghana Gold Board (GoldBod)* now holds exclusive rights to assay, value, and export gold, ensuring that all proceeds flow through licensed Ghanaian accounts.  

*Impact on International Settlements* 

While a seller may technically facilitate collection at a destination like Dubai, the *Letter of Commitment* requirement means the full transaction value must already be secured within a licensed Ghanaian corporate account to authorize the export. This makes "pay-at-destination" models functionally redundant, as the capital must enter the Ghanaian banking system well before the gold arrives in Dubai.        

So it is possible for a seller to collect at destination in Dubai, but the buyer's money has already been deposited into Ghana at least once, so it seems senseless.  

Updated: 20-May-2026
Ghana Purchase Locations
CIF, Legal FOB, or Test and Pay  
Scott Hedrick - American Gold Buyer, WhatsApp +1.919.443.5135
I am a Direct Buyer and I Represent MANY Other Direct Buyers in
Dubai, Ghana, Uganda, Kenya, & Zambia