Ghana is losing billions in revenue due to the illegal transfer of gold, one of its most valuable natural resources.
Finance Minister Dr. Cassiel Ato Forson revealed in a post on X that at the peak of Ghana’s economic crisis in 2022, an estimated 60 tonnes of gold—valued at approximately $1.2 billion—were illegally smuggled out of the country.
The Minister lamented the significant financial loss, questioning the economic gains Ghana could have achieved had the gold remained within the formal economy.
To address the issue, Dr. Forson announced that he had engaged with officials from the UK-Ghana Gold Programme, an initiative aimed at breaking the links between illegal artisanal gold mining and organized crime.
The programme seeks to ensure that Ghana fully benefits from its gold resources while tackling the illicit trade that has severely impacted the nation’s revenue.