More than $9b worth of Ghana gold exports unaccounted for
The Ministry of Lands and Natural Resources on Friday inaugurated a special committee to halt gold smuggling in Ghana.
The Committee is chaired by Mr George Mireku Duker, a Deputy Minister of the Ministry in charge of Mines, tasked to ensure the integrity of the gold export value chain and increase the government’s revenue on gold trade.
An assessment of trade data on gold export between Ghana and its major partner nations, including India, United Arab Emirates and Switzerland in 2019, revealed that more than $9 billion worth of gold exports remained unaccounted for.
Members of the Committee include representatives from the Minerals Commission, Precious Minerals Marketing Company (PMMC), National Intelligence Bureau (NIB), Ghana Police Service, Ghana Immigration Service, Ghana Boundaries Commission, Ghana Revenue Authority and the Sector Ministry.
Out of the Committee, a task force would be formed to spearhead the fight against smuggling of gold in the country.
At the inauguration of the Committee and its first consultative meeting in Accra, Mr Mireku Duker said since the introduction of the three per cent withholding tax on gold trade in 2019, the purchase and export of gold had dwindled drastically due to the smuggling of the commodity.
He said if drastic measures are not taken to stop the menace, Ghana may lose its position as the leading gold producer in Africa.
“We have tasked you to check gold smuggling and the security agencies must monitor the inflow and outflow of gold and it is a charge you cannot fail this nation.
“We must protect and sustain the integrity of the country’s gold exports value chain,” Mr Mireku Duker emphasised.
He was optimistic that with security operatives and industry experts being members of the Committee, it would succeed in curbing the menace.
He pledged the Ministry’s commitment in terms of providing logistical support to the Committee to accomplish its mandate.
Mr Kiston Akomeng Kissi, the Chairman of the PMMC Board and Nana Akwasi Awuah, the Managing Director of PMMC, pledged their full cooperation to ensure that gold smugglers were apprehended and dealt with accordingly.
Mr Akomeng Kissi said the PMMC would re-double its efforts to stop gold smuggling and promised the Company’s co-operation in that regard.
Nana Akwasi Awuah also said the Company would work collaboratively with the security agencies to succeed.
Source: GNA