The report, unveiled on June 11, 2025, identifies a significant trade gap of 229 metric tons between Ghana’s officially declared gold exports and the imports reported by its trading partners. This discrepancy primarily indicates that the gold is being smuggled out to Dubai. Ulf Laessing, head of the Sahel programme at Germany’s Konrad Adenauer Foundation, pointed out the ease with which gold is transported illegally. “Hand-carried gold does not have to be declared in Dubai … informal gold is mostly brought in on flights,” he told Reuters, emphasizing the opaque nature of the trade.
Swissaid’s investigation reveals that much of this gold is smuggled through countries like Togo, Burkina Faso, and Mali before reaching Dubai, taking advantage of West Africa’s porous borders. A senior official at Ghana’s Minerals Commission acknowledged the issue, describing it as “a notorious fact.” However, Ghana’s Ministry of Finance has yet to respond publicly to these findings.
The report also critiques a now-abolished 3% withholding tax on artisanal gold exports, introduced in 2019. The tax was intended to boost revenue but instead led to a surge in smuggling as formal exports plummeted. Though the tax was reduced to 1.5% in 2022 and eventually abolished in March 2025, analysts argue these measures were insufficient. Swissaid estimates that in 2023 alone, 34 metric tons of gold—equivalent to Ghana’s total artisanal output—went undeclared.
Despite earning $11.6 billion in gold revenue last year, Ghana’s broader system remains vulnerable. Bright Simons from the Accra-based IMANI Center for Policy and Education noted, “The new government has shown some willingness to fix governance issues in the gold sector, but its pace has been slow.”
This situation mirrors a broader trend across Africa, where discrepancies between gold-exporting countries’ reports and those of major importers like the UAE are common. While Dubai has pledged tighter oversight, reforms have had limited impact so far.
Informal mining remains a critical livelihood for over 10 million people across sub-Saharan Africa. However, its growing ties to organized crime and conflict are prompting urgent calls for better regulation. As Ghana and other nations grapple with these challenges, the need for comprehensive reforms and international cooperation becomes increasingly evident.
