In response to rampant illicit gold trafficking, Cameroonian authorities convened a high-level meeting on Tuesday, July 14, 2026, to overhaul the gold sector and tighten regulatory oversight.
The gathering, held in the conference hall of the Ministry of Commerce, brought together key figures including the Minister of Mines, Industry and Technological Development (acting capacity), Professor Fuh Calistus Gentry, alongside top customs, tax, and treasury officials. Representatives from the National Mining Corporation (SONAMINES) and the Permanent Secretary of the National Gold and Precious Metals Regulatory Board (SNPPK) also participated.
Strengthening gold traceability and formalizing the sector
The primary agenda centered on improving gold supply chain transparency, restructuring the value chain, and fostering better inter-agency coordination. Participants emphasized that these measures aim to boost state revenue collection, dismantle informal networks, and ensure a more accountable gold industry.
This initiative follows a series of government actions to curb rampant resource exploitation and enhance transparency in Cameroon’s mining sector. Recent reports highlighted a staggering discrepancy: 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.
Economic impact of gold smuggling
The smuggling crisis has inflicted severe financial losses. Over five years, the illegal trade cost the state an estimated 2,000 billion FCFA, with direct tax revenue losses amounting to 165 billion FCFA. These figures underscore the urgent need for stricter controls and a coordinated crackdown on illicit gold flows.