Minister for Finance, Dr. Cassiel Ato Forson, has raised concerns over Ghana’s loss of billions in revenue due to the illegal transfer of gold, one of the country’s most valuable natural resources.
In a post on X, he highlighted the devastating impact of illicit gold smuggling on the nation’s economy, revealing that at the height of Ghana’s economic crisis in 2022, an estimated 60 tonnes of gold—worth around $1.2 billion—were smuggled out of the country through illegal channels.
Dr. Forson emphasized the significant economic loss Ghana has endured, questioning the potential boost the country could have seen had the gold remained within the local economy.
“Imagine the impact if that wealth had stayed in our economy!” he stated, stressing the urgent need to curb illegal mining and smuggling activities that have long deprived the nation of crucial revenue.
To address the issue, he announced that he had met with officials from the UK-Ghana Gold Programme, a collaborative effort aimed at severing links between illegal artisanal gold mining and organized crime.
The programme seeks to ensure Ghana fully benefits from its gold resources while tackling the illegal trade that has negatively impacted the country’s finances.
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