Ghana is a strong statement on its role as an economic pioneer on the continent. Faced with the colossal leakage of mineral resources, the Ghana Gold Board imposes a brilliant political response. By centralizing the purchase and export of the precious metal, gold, Accra will reintegrate nearly four billion dollars into the official circuits by 2025. This resounding success is transforming the management of mineral wealth. It is now inspiring Zambia, Tanzania and Burundi, which are eager to stem massive smuggling to the United Arab Emirates.
This Ghanaian mastery demonstrates the strength of a willing state. It puts an end to decades of informal looting. However, this visionary policy comes with complex requirements. The integration of these flows requires strict management of purchase prices in order to preserve public finances and the Central Bank. Similarly, the application of tailor-made tax fees remains essential to guarantee real revenues for the national treasury.
The other major challenge lies in the full traceability of the ore. In order to guarantee an irreproachable sector, the authorities are firmly fighting against galamsey, this clandestine extraction that is harmful to nature. The roll-out of the new national monitoring system is therefore a major step towards supply chain transparency.
The political lesson of Accra rightly captivates the whole of Africa. The formalization of gold panning becomes fully effective when the State controls its costs, taxes production and guarantees the legal origin of each gram. Ghana is paving the way for a continent that is finally in control of its mineral resources.
TheHatLady
