Ghana’s economy suffered a staggering blow in 2022 as an estimated $1.2 billion worth of gold—equivalent to 60 tonnes—was smuggled out of the country, according to Dr. Cassiel Ato Forson, Ghana’s Minister for Finance.
Taking to X (formerly Twitter), Dr. Forson lamented the severe economic impact of illegal gold mining and smuggling, particularly during a period when the country was grappling with one of its most critical economic crises. Gold, a cornerstone of Ghana’s economy, continues to fall prey to illicit trade, depriving the nation of much-needed revenue and development opportunities.
“Imagine the transformative impact on our economy if this wealth had remained within our borders,” Dr. Forson stated. He underscored the urgent need for decisive action to clamp down on these illegal activities, which have long siphoned off the nation’s resources and undermined its financial stability.
Dr. Forson also revealed his engagement with officials from the UK-Ghana Gold Programme, a strategic initiative designed to break the ties between illegal artisanal gold mining and organized crime. The program aims to ensure that Ghana reclaims control over its gold resources and maximizes their contribution to the country’s development.
The Finance Minister’s call comes as the government intensifies efforts to combat galamsey (illegal mining) and related smuggling activities, which not only harm the economy but also lead to severe environmental degradation.
Dr. Forson’s statement is expected to reignite conversations on the effective management of Ghana’s natural resources and the need for stricter measures to protect the nation’s wealth from exploitation by criminal networks.
“This is a wake-up call for all stakeholders,” he concluded, urging swift, coordinated action to safeguard Ghana’s economic future.
Story by: Mercy Addai Turkson #ahotoronline.com
