Ghana’s Gold Board has officially licensed 1,184 gold-buying companies, according to Deputy Finance Minister Thomas Ampem Nyarko. This licensing, completed as of May 31st, represents a significant step towards formalizing the country’s gold trade. The move aims to increase government revenue and regulate the sector more effectively. The licensing process is part of broader efforts to combat illegal gold mining and trading. Authorities hope the increased oversight will also help to curb illicit financial flows associated with the gold trade. The initiative signifies a commitment to transparency and accountability within Ghana’s valuable gold industry. Further details regarding the licensed companies and the impact of this initiative are expected to be released by the Gold Board.