“President Mahama Launches Special Task Force to Combat Illegal Gold Trade”
"President Mahama Launches Special Task Force to Combat Illegal Gold Trade"
“President Mahama Launches Special Task Force to Combat Illegal Gold Trade”
President John Dramani Mahama has inaugurated a special task force under the Ghana Gold Board to enforce gold trade regulations and combat illegal exports. The unit is equipped with advanced technology, including body-worn cameras and GPS-tracked vehicles, to ensure transparency and accountability.
The task force has been equipped with the following features to ensure its effectiveness:
1.All task force members will wear body cameras to record their interactions and operations.
2.The vehicles used by the task force will be GPS-tracked to monitor their movements and operations in real-time.
3.Individuals who provide credible information leading to the seizure of gold or cash will receive 10% of the recovered value as a reward.
The task force is expected to operate as a joint security unit involving personnel from the military, national security, and other law enforcement agencies. Its mandate includes:
Prohibiting unlicensed gold trading and barring foreigners from purchasing gold in Ghana’s local market. Individuals found guilty of illegal gold trading face fines of up to GH¢2.4 million or imprisonment for between 5-10 years, or both.
President Mahama emphasized that the initiative is part of the government’s broader economic reset and effort to plug longstanding revenue leakages in the gold sector. He cited a recent report revealing a 229-metric-tonne discrepancy between Ghana’s official gold export records and those of its trading partners, estimated at over $11.4 billion in lost value.
The Gold Board will roll out a national traceability system to link every gram of gold to a licensed and environmentally compliant source. Plans are also underway to establish an ISO-certified assay laboratory by 2026 and to begin refining gold locally for export as bullion instead of raw doré bars.
“This is not business as usual. It is a matter of national duty and pride,” President Mahama said, emphasizing the importance of transparency and accountability in the gold sector. He warned that any member of the task force found to have misconducted themselves would face immediate dismissal, prosecution, and loss of benefits. With this initiative, the government is committed to ensuring that the gold sector is transparent, accountable, and beneficial to the country.
Story by Fada Amakye from Daily Sun online
