Ghanaian President John Dramani Mahama has unveiled a national task force backed by security agencies to crack down on illegal gold trade, in a bold bid to plug billions in revenue losses from smuggling.

The move, announced Tuesday, marks the country’s first coordinated anti-smuggling campaign at the national level. While past efforts to regulate artisanal mining have fallen short, the government is now taking a more robust approach involving both military and police personnel.

Speaking during the launch, Mahama said the crackdown follows the formation of a centralized trading body GoldBod which has already delivered promising results. Official gold exports reached a record 55.7 metric tonnes between January and May 2025, valued at $5 billion.

“This is money that would have otherwise remained abroad in private hands,” Mahama said, crediting GoldBod’s oversight for boosting state revenue.

To encourage public support, the government will reward informants with 10% of the value of gold seized based on credible tips.

Mahama also revealed plans for a nationwide gold traceability system and a shift to refined gold exports by 2026. He said Ghana aims to capture more value by setting up an ISO-certified assay lab and a dedicated gold manufacturing hub.

The initiative comes amid a regional push by West African governments to better capitalize on booming global commodity prices. While countries ruled by military juntas have opted for sweeping reforms and asset seizures, democracies like Ghana and Ivory Coast are implementing more measured policy changes, including increased royalties and improved revenue-sharing structures.

Gold prices have soared 25% since January, hitting a peak of $3,500 per ounce in April, according to Reuters.