Ghana is currently considering a series of strategies to counteract the issue of gold smuggling, with the primary goal of sustaining the gold-for-oil policy. According to Energy Minister Matthew Opoku Prempeh, individuals who expose gold smugglers might soon receive rewards in the form of gold. The overarching objective is to manage the export of gold from the country, ensuring that the Bank of Ghana maintains an ample gold reserve for trading to secure economical fuel.
Dr. Prempeh has expressed his belief that engaging Ghanaians as vigilant monitors to prevent gold smuggling would enhance the effectiveness of the program. As part of these efforts, he has put forth a proposal to offer a 20% gold reward to those whose information leads to the apprehension of smugglers. This proposal is currently being reviewed for potential integration into formal policy.
“We are suggesting that anyone who provides a tip or information that identifies individuals involved in gold smuggling and subsequently leads to an arrest will be granted 20% of the confiscated gold. I am confident that this initiative will be put into effect soon,” he explained. He further added, “I am of the opinion that no one earns a 20% profit from this entire operation; even the individuals purchasing the gold do not attain a 20% profit.”
He emphasized, “Therefore, if Ghanaians who are currently assisting in the smuggling process can benefit from a 20% share, it will significantly curb these illegal activities.” Dr. Prempeh addressed the issue at a Rotary Club event in Accra Ring Road Central on August 22, 2023, mentioning that the volume of gold being illicitly exported is gradually increasing. He indicated that the formal announcement of this policy might be forthcoming to address this challenge effectively.
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