Highlights:

• Ghana lost $11.4 billion to gold smuggling from artisanal mining between 2019 and 2023, Swissaid reports.

• Smugglers reroute undeclared gold through Togo, Burkina Faso, and Mali, mainly to the UAE.

• Tax cuts failed to curb smuggling; NGO blames corruption and weak regulation.

Ghana lost an estimated $11.4 billion in gold revenue between 2019 and 2023 due to large-scale smuggling from artisanal mines, according to a report by Swiss NGO Swissaid released on June 11. The report highlights a growing illicit trade in gold rerouted through neighboring West African countries before reaching global markets, especially the United Arab Emirates.

The African Gold Report – Ghana says that while Ghana declared 129.1 tonnes of gold production in 2023—ranking it among the world’s top 10 producers—an estimated 34 tonnes of artisanal and small-scale mined (ASM) gold went undeclared that same year.

While most of Ghana’s declared gold exports come from industrial mining and head to Switzerland, South Africa, and India, Swissaid says artisanal gold is far more difficult to trace. The artisanal sector has seen rapid growth in recent years, often in protected zones and involving foreign operators, including Chinese nationals.

Ghana’s gold mainly comes from industrial or large-scale mining (LSM). Still, artisanal and small-scale mining contributes at least one-third of total production.

Dubai, Top Destination for Smuggled Gold

Swissaid uncovered a 229-tonne gap between Ghana’s reported exports and the import figures from trading partners, based on UN Comtrade data. Much of the gold, produced in informal or unauthorized sites, is transported across porous borders into Togo, Burkina Faso, and Mali before being re-exported illegally, often to Dubai. Some smugglers even carry gold bars as hand luggage on commercial flights from international airports.

Ghana imposed a 3% tax on artisanal gold exports in 2019, but the measure backfired, causing official exports to plummet as smuggling surged. A tax cut to 1.5% in 2022 led to a modest recovery, and in March 2025, the government scrapped the levy on unprocessed ASM gold purchases.

Still, Swissaid argues that policy tweaks alone are insufficient. The NGO points to systemic corruption, elite capture of institutions, and collusion between state officials and smugglers as the root causes driving the black market.

This article was initially published in French by Walid Kéfi

Edited in English by Ola Schad Akinocho