Ghana Deploys Security Task Force to Stem Gold Smuggling Losses

Ghana has created its first national task force to combat gold smuggling, President John Dramani Mahama announced on 8 July. The unit, composed of soldiers and police officers, is mandated to curb illegal trade in the precious metal and recover revenue the government says runs into billions of dollars each year. The anti-smuggling push complements GoldBod, a new state-run board established earlier this year to centralise gold purchases and exports. GoldBod has already helped lift official shipments to a record 55.7 metric tonnes worth about US$5 billion in the first five months of 2025, according to Mahama. To encourage tip-offs, informants will receive 10 percent of the value of any gold seized. Authorities also plan to roll out a nationwide traceability system and shift to exporting refined gold by 2026, aiming to capture more value domestically. The initiative comes as bullion prices have risen roughly 25 percent so far this year, peaking at about US$3,500 an ounce in April.