Ghana’s President John Dramani Mahama has inaugurated a new national task force, supported by security forces, aimed at tackling illegal gold trading.
The initiative seeks to reclaim billions of dollars lost annually to smuggling, a persistent issue for Africa’s leading gold producer. This task force marks Ghana’s inaugural national effort specifically targeting gold smuggling.
Previous government attempts to regulate artisanal mining proved insufficient in curbing illicit extraction and the associated revenue losses that plague many African gold-producing nations.
The move follows the establishment of GoldBod earlier this year, a new centralized gold trading board.
This new system has already yielded significant results, with official gold exports reaching a record 55.7 metric tonnes, valued at \$5 billion, in the first five months of 2025. President Mahama emphasized that these funds would otherwise have remained outside Ghana through illicit channels.
To bolster public cooperation, the task force, comprising both soldiers and police officers, will offer a 10% reward to informants on the value of any gold seized based on their tips.
Looking ahead, Ghana also plans to implement a nationwide gold traceability system and transition to exporting only refined gold by 2026. The nation aims to maximize value from its gold resources through an ISO-certified assay laboratory and a specialized manufacturing hub.
Ghana’s strategy aligns with broader West African efforts to capitalize on surging commodity prices.
While military-led nations in the region are adopting more aggressive policies, democracies like Ghana and Ivory Coast are pursuing measured reforms through increased royalties and enhanced revenue-sharing agreements.
Gold prices have seen a 25% increase this year, peaking at $3,500 per ounce in April.