By How Gold Was Been Illegally Transported Out Of Africa
Gold worth $30.7b was reportedly trafficked out of Africa in 2022, more than a tonne a day was reported.
UAE is the main arrival point, with prohibited trade worth $115.3b between 2012 and 2022.
Two-thirds of gold shipped in by UAE from Africa in 2022 was reported to have been illegally transported (405 tonnes).
UAE transships this gold to other countries.
Most of Africa’s undeclared gold is manufactured by custom-made and small-scale miners (ASM).
ASM yield 50% of continent’s gold
Gold illicit transport over the continent exceeding doubled within 2012 and 2022.
Most gold illicit transportation in Africa occurs in Mali, Ghana and Zimbabwe.
In 2022, Africa mined 25% to 33% of world’s gold production.
BILLIONS LOST IN SMUGGLED AFRICAN GOLD TO THE UAE YEARLY
Over a tonne of gold per day gets illegally transported out of Africa and majority of it ends up in the UAE. It’s commonly sneaked out on planned and private jets and it’s estimating the landmass billions of dollars in missing turnover.
The network of unlawful trade is reportedly detailed in a 140-page by Switzerland-based NGO Swissaid. It says most of the black-market gold comes from small handcrafted miners, who don’t proclaim what they produce.
Ghana, Mali and Zimbabwe are named as hotspots and Emirati trading companies and refineries are accused of not practicing due diligence ‘properly’.
Swissaid says they ‘consolidated, evaluated and cross-referenced production and export data [of gold] from all African countries and import data from partner countries over a period of more than ten years.’
Their report suggests better ordinance, but cautions there are many hindrances to instituting small-scale mining, such as access to capital.
We’ve put together some of the focal points of their dazzling study disseminated prior this year.
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