Cameroun launches bold initiative to curb illegal gold trade

The government of Cameroun has intensified efforts to combat gold smuggling by convening a high-level meeting aimed at restructuring the gold sector and tightening oversight on precious metal exports.

A pivotal working session took place on July 14, 2026, at the conference hall of the Ministry of Commerce, bringing together key officials from the mining, customs, tax, and treasury departments. The meeting was chaired by the Minister of Mines, Industry and Technological Development, Professor Fuh Calistus Gentry, alongside senior representatives from the National Mining Corporation (SONAMINES) and the Permanent Secretariat of the National Gold and Precious Metals Regulatory Authority (SNPPK).

Strengthening gold traceability and formalizing the sector

Central to the discussions were strategies to enhance the traceability of gold, streamline the value chain, and foster better inter-agency coordination. Participants emphasized that these measures will improve tax collection, dismantle informal networks, and maximize revenue for the state from gold production.

The gathering follows a series of government actions designed to regulate mining activities more effectively and ensure greater transparency in the gold industry. Recent disclosures from the Extractive Industries Transparency Initiative (EITI) have exposed significant discrepancies: while Cameroonian customs recorded just 22 kilograms of gold exports, over 15 metric tons of Cameroonian-origin gold were declared upon arrival in the United Arab Emirates. This smuggling epidemic has cost the nation an estimated 2 trillion FCFA over five years, including 165 billion FCFA in lost tax revenue.

Government responds to massive resource drain

In response to the rampant plundering of its gold reserves, the Cameroonian government has launched a comprehensive judicial and economic crackdown to clean up the gold sector. The July 14 meeting marks a critical step in this campaign, signaling a firm commitment to securing the country’s mineral wealth and ensuring that all gold exports are fully documented and taxed.

By tightening controls and improving collaboration among regulatory bodies, authorities aim to plug loopholes that have long facilitated illicit gold trafficking. The initiative reflects growing political will to restore integrity to Cameroon’s mining industry and secure much-needed public revenue for development.