By: Amadi Vincent Uzoma
The NGO estimates that by 2022, “66.5% (405 tons) of gold imports from Africa will go to the United Arab Emirates most have been smuggled out of African countries.
Billions of dollars in gold are smuggled out of Africa every year, most of which ends up in Dubai before being legally re-exported to other countries, a Swiss NGO said on Thursday.
Development NGO Swissaid has published a report showing that 321 to 474 tonnes of African gold is produced by undeclared artisanal and small-scale mining each year, valued at between $24 to $35 billion. Africa is the world’s main gold-producing continent, with Ghana, South Africa, Mali, and Burkina Faso leading production in 2022.
According to NGO, African gold smuggling is on the rise, “more than doubled compared to 2012″ and 2022”. NGO says precious metals are “a source of income for millions of artisanal miners, a major source of income for many governments, a means of financing armed groups and a cause of violence, serious human rights violations and environmental degradation.
The report names Dubai as the international hub for the African gold trade, which then flows to countries such as Switzerland. The NGO estimates that in 2022, “66.5% (405 tons) of gold imported from Africa to the United Arab Emirates was smuggled out of African countries.” He arrived in Dubai by plane, “in carry-on luggage or in checked luggage, on regular flights or on private jets.” The emirate is home to gold refineries and thousands of traders in precious metals and gems.
From there, African gold is shipped mainly to Switzerland, the “second largest importer,” as well as to India. According to Swiss law, the final place of gold processing is its place of origin, so gold arriving in Switzerland cannot return to Africa, the NGO explains. The report covers the period from 2012 to 2022 and is based on data collected in 54 African countries, cross-referencing gold production data with official import and export data.
