Ghana is losing billions in revenue due to the illegal transfer of gold, Finance Minister Dr. Cassiel Ato Forson has revealed.

According to him, at the peak of Ghana’s economic crisis in 2022, an estimated 60 tonnes of gold—valued at $1.2 billion—were smuggled out of the country through illegal channels.

In a post on X, Dr. Forson lamented the economic toll of illicit gold trade, questioning how much the country could have gained if those resources had remained within the local economy.

"Imagine the impact if that wealth had stayed in our economy!" he stated, emphasizing the need to curb illegal mining and smuggling, which continue to drain Ghana’s revenue.

Gold is one of Ghana’s most valuable natural resources, but for too long, illicit smuggling has deprived our economy of billions in revenue. At the peak of our economic crisis in 2022, 60 tonnes of gold—worth an estimated $1.2 billion—left Ghana through illegal channels.… pic.twitter.com/1p4GqnUAO0— Cassiel Ato Forson(PhD) (@Cassielforson) March 25, 2025

To address the issue, the minister disclosed that he had engaged officials from the UK-Ghana Gold Programme.

The initiative is focused on breaking the connection between illegal artisanal mining and organized crime, ensuring that Ghana fully benefits from its natural resources.