According to a report by OriginAll, Ghana is a major transit point for the illicit shipment of gold. The report identified Ghana, Sudan, Ethiopia, and Uganda as major illegal gold trading routes, with export destinations being Switzerland, the United Arab Emirates, and India. 

The report also stated that local gold refineries are being extensively used to launder gold from illicit sources in an artisanal mining sector involving several million people, forced labor, and high risks. 

The assessment of trade data between Ghana and its three major gold trading partners�Switzerland, India, and the United Arab Emirates�revealed that over $6 billion worth of gold exports remain unaccounted for from 2013 to 2016.

Ghana also loses over $2 billion annually in unpaid royalties and taxes on gold smuggled out of the country. Illicit gold mining is becoming a rising source of income for cartels, criminal gangs, and non-state armed groups, with the mineral sector averaging 17 per cent of global threat and conflict finance.

Capital flight from the African mineral sector has been estimated at $50 billion. An investigative piece by Al Jazeera recently stoked debate about how some Ghanaian officials could be complicit in illicit gold trades and money laundering activities for a group of mafias controlling the gold industry in Africa.

A gold trader exposed in Al Jazeera�s Gold Mafia investigative documentary, Alistair Mathias, has revealed that he smuggles $40 million worth of gold from Ghana monthly. Mathias alleged that President Akufo-Addo is his friend and lawyer.

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