The UK government has raised concerns over the increasing rate of gold smuggling in Ghana and its negative impact it has on the country’s revenue mobilisation drive.
Chris Aston, team lead for the UK Ghana Gold Programme (UKGGP), who raised the concern, called for urgent and decisive action from Ghanaian authorities to address the issue.
He was speaking at a Civil Society Organisation (CSO) meeting with political parties on mining reforms and governance.
He indicated that if the situation is not addressed, the combination of unregulated mining practices and illegal small-scale mining, popularly known as galamsey, will continue to have devastating consequences for Ghana’s economy.
He stated that Ghana loses approximately $2 billion annually in tax revenue due to smuggling and illegal gold operations.
It is estimated that about 60 tonnes of gold were reportedly smuggled out of the country in 2022.
“This is all lost revenue to the government of Ghana. At the moment, the sector is vulnerable. It is being exploited by organised crime groups. The threats are growing. Gold smuggling has more than doubled. We want to disrupt illegal mining and illicit financial inflows. Ghana loses more than US$2 billion yearly to gold smuggling,” he said.
The UK-Ghana Gold Programme (UKGGP) collaborates with the Government of Ghana to ensure that artisanal small-scale gold mining is properly regulated and that existing regulations are effectively enforced.
The program aims to unlock the full potential of artisanal mining to benefit Ghanaians while also preventing environmental degradation and safeguarding the health and well-being of miners.
By: Rainbowradioonline.com/Ghana
