Search

Ghana gold sector hit by $54bn illicit financial flows in a decade

Gold mine. Photo by István Mihály @ Pixabay
Gold mine. Photo by István Mihály @ Pixabay
  • Gold mispricing drains revenue despite higher exports and prices
  • ISSER urges tighter oversight, training and streamlined rules

 

ACCRA, GHANAGhana must urgently tighten oversight in its gold sector to stem illicit financial flows, as export gains continue to mask deep revenue leakages, an economist has warned.

Adzo Woeyram Makafui Baku of Institute of Statistical, Social and Economic Research (ISSER) said weaknesses in supervision, fragmented procedures and limited technical capacity are allowing billions of dollars to slip through the cracks, even as gold exports rise.

This article is free to read.

Sign up for free or sign in to continue
reading. Unlike our competitors, we don't force you to pay
to read the news but we do need your email address to
make your experience better.

Create your free account or sign in


Recent Business

Cocoa pod and beans outdoors. Photo by Ákos Helgert @ Pexels
How Nigeria's cocoa strategy could end decades of oil dependence
Read More »
A vibrant display of traditional dance in Botswana. Photo by Xitsundzuxo Himina @ Pexels
Why Botswana’s inflation surge signals wider risks for commodity economies
Read More »
Molten metal pouring from ladle in industrial foundry. Photo by Bence Szemerey @Pexels
Can Kipushi’s zinc boom in Congo redraw Africa’s commodity power balance?
Read More »

Recent Politics

Football fans on the street of Marrakesh, Morocco. Photo by Graddes @ Unsplash
Will Morocco’s $20bn World Cup gamble deliver growth?
Read More »
William Ruto, President of The Republic of Kenya. Photo: @ William Ruto/Facebook
Will Ruto's Vision 2060 outlive Kenya's politics?
Read More »
Tigray renewed conflict. Photo/Tigray War - Wikipedia
Is Ethiopia's fragile Tigray peace finally collapsing again?
Read More »

Latest Posts

Latest news insights