Tonnes of gold woth $1.2 Billion smuggled out of Ghana in 2022 - Finance Minister

Ghana is losing billions in revenue due to the illicit transfer of gold, one of the nation’s most valuable natural resources, according to the Minister for Finance, Dr. Cassiel Ato Forson.

In a post on X, the minister highlighted the devastating impact of gold smuggling on the economy, revealing that at the height of Ghana’s economic crisis in 2022, an estimated 60 tonnes of gold—worth approximately $1.2 billion—were illegally moved out of the country.

READ ALSO: 2025 Budget: Here are all the 6 nuisance taxes the Mahama government has abolished

Dr. Forson underscored the severe economic loss Ghana has suffered, questioning the potential financial gains had this wealth remained within the local economy.

“Imagine the impact if that wealth had stayed in our economy!” he remarked, stressing the urgent need to curb illegal mining and smuggling operations that continue to deprive the nation of crucial revenue.

Gold is one of Ghana’s most valuable natural resources, but for too long, illicit smuggling has deprived our economy of billions in revenue.

At the peak of our economic crisis in 2022, 60 tonnes of gold—worth an estimated $1.2 billion—left Ghana through illegal channels.… pic.twitter.com/1p4GqnUAO0

— Cassiel Ato Forson(PhD) (@Cassielforson) March 25, 2025

READ ALSO: SONA 2025: ‘I will fix Ghana’s economic crisis’ – President Mahama firmly pledges

To address the crisis, he announced that he had engaged with officials from the UK-Ghana Gold Programme, a joint initiative aimed at dismantling the ties between illegal artisanal gold mining and organised crime.

The programme seeks to ensure Ghana reaps the full benefits of its gold resources while actively combating the illicit trade that has long hindered the country’s financial growth.

Read Full Story