Ghana Orders Foreigners to Exit Gold Trading Sector in Push for Economic Sovereignty

By Eva Richardson | The Logistic News
April 17, 2025

In a bold economic shift, the government of Ghana has issued a directive requiring all foreign nationals to exit the country’s gold trading sector by the end of April 2025. The move, part of a broader initiative to “reclaim Ghanaian economic sovereignty”, is expected to dramatically reshape the dynamics of one of West Africa’s most vital industries.

“This policy is aimed at empowering Ghanaians and protecting our national wealth,” stated Dr. Mohammed Amin Adam, Ghana’s Minister of Finance, during a press briefing in Accra.

The announcement, issued on April 15, applies to retail, wholesale, and export-level trading of gold, and will be enforced by the Ministry of Lands and Natural Resources in coordination with the Ghana Immigration Service.

Strategic Motives Behind the Decision

Ghana is Africa’s leading gold producer and the sixth-largest globally, with gold accounting for more than 90% of the country’s total mineral exports. Government officials argue that foreign dominance in gold trade—particularly by intermediaries from Asia and the Middle East—has undermined local control, reduced state revenues, and fueled illicit export practices.

“Too much of our gold wealth has been exported without fair returns. This is not just economic—it’s existential,” said Kwame Ofori, policy advisor at Ghana’s Chamber of Mines.

The policy aligns with Ghana’s Gold for Oil barter program, which was introduced in 2023 to reduce the country’s dependence on U.S. dollars for imports by trading gold directly for fuel.

Industry and Investor Reaction

The directive has sparked mixed reactions from the business community. While some local traders and mining cooperatives welcomed the move, foreign-owned firms and joint ventures are expressing uncertainty and preparing contingency plans.

Analysts note that enforcement will be key, particularly in monitoring shell companies or proxies that may be used to bypass the restrictions.

“This decision sends a powerful message—but its success depends on transparent enforcement and investment in local capacity,” said Helen Zhou, senior economist at ResourceLink Africa.

Impact on Logistics and Export Chains

The expulsion of foreign traders could disrupt short-term logistics flows, particularly in gold smelting, valuation, and freight forwarding. Export procedures may experience delays or reconfiguration, as Ghanaian entities adjust to increased responsibility for managing documentation, shipment inspection, and customs clearance.

Air cargo operators that rely on steady gold shipments from Ghana to international bullion hubs like Dubai, Zurich, and London may also need to reassess service agreements and insurance coverage.

“Gold is a high-security, time-sensitive commodity. This kind of regulatory shake-up inevitably affects logistics providers,” explained Jean-Marc Toussaint, Head of Cargo at WestAir Logistics.

Conclusion

Ghana’s push to nationalize its gold trading market reflects a growing trend across resource-rich nations: reclaiming control of strategic commodities and ensuring that the value chain benefits local economies. As the policy deadline nears, the global gold trade will be watching closely to see if Ghana’s bold gamble delivers the empowerment and economic transformation it promises.

Eva Richardson is a senior correspondent at The Logistic News, covering global commodity flows, economic sovereignty movements, and supply chain shifts across Africa and the Middle East.

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