Ghanaian President, John Dramani Mahama, has inaugurated the country’s first-ever national task force dedicated to combating gold smuggling, a move aimed at recovering billions of dollars lost annually to the illicit trade. The task force, which brings together police and military personnel, marks a renewed government push to secure the country’s gold wealth and stem illegal outflows.

Speaking at the launch on Tuesday, Mahama emphasised the magnitude of the challenge and the need for bold action. “This is money that would not have come back to Ghana because traders would have taken it and kept the foreign exchange outside,” he said, referring to the estimated $5 billion in gold exports recorded in just the first five months of 2025.

The task force’s unveiling follows the creation earlier this year of the Ghana Gold Board (GoldBod), a centralised body to regulate and streamline gold trading. Since GoldBod’s establishment, Ghana has posted record gold exports totalling 55.7 metric tonnes, a clear sign of the new body’s impact in improving formal trade channels.

To foster public cooperation, President Mahama announced a 10% reward scheme for informants who provide actionable intelligence that leads to the seizure of smuggled gold. The incentive, he noted, is designed to promote transparency and citizen participation in the crackdown.

Looking ahead, Ghana plans to implement a nationwide gold traceability system and transition fully to refined gold exports by 2026. The strategy also includes setting up an ISO-certified assay laboratory to verify the quality of gold, and establishing a dedicated manufacturing hub to add value before export.

These efforts form part of broader regional moves to maximise returns from rising commodity prices. While some military-led governments across West Africa are taking drastic steps such as seizing assets and rewriting mining codes, democracies like Ghana and Côte d’Ivoire are opting for more structured reforms, including higher royalties and improved revenue-sharing frameworks.

With gold prices soaring by 25% this year and peaking at $3,500 per ounce in April, Ghana’s decisive actions signal a commitment to reclaiming its fair share from the global gold trade and building a more accountable, value-driven mining sector. (AriseNews TV)