A high-level meeting convened to address gold sector restructuring and enhanced traceability.

A pivotal working session, focused on restructuring Cameroon’s gold sector and strengthening the traceability of gold, took place this Tuesday, July 14, 2026, within the conference facilities of the Ministry of Commerce.

Presiding over these important discussions was Professor Fuh Calistus Gentry, the acting Minister of Mines, Industry, and Technological Development. He was joined by an array of senior administrative officials, including the Director General of Customs, the Director General of Taxes, the Director General of the Treasury, the Director General of SONAMINES, the Permanent Secretary of the SNPPK, and other key MINMIDT representatives.

Judicial and economic offensive against illicit gold trade

Central to the discussions were strategies to bolster gold traceability, reorganize the entire gold value chain, and foster improved coordination among various government agencies involved in managing the sector. Participants expressed that this concerted effort marks a new phase of collaboration between institutions, aiming to boost tax revenue collection, dismantle informal gold networks, and significantly increase state income derived from gold exploitation.

This meeting underscores the Cameroonian authorities’ escalating efforts to better regulate mineral resource exploitation and ensure more transparent governance within the gold sector. It is a direct response to the widespread plundering of Cameroon’s gold resources, prompting the government to launch a comprehensive judicial and economic offensive to sanitize the gold industry.

Massive financial losses from gold smuggling

The urgency of these measures is highlighted by alarming revelations from the Extractive Industries Transparency Initiative (ITIE). Their findings exposed a staggering disparity: while Cameroon’s customs records indicated only 22 kg of gold exported, over 15 tons of Cameroonian-origin gold were declared upon arrival in the United Arab Emirates. This extensive gold smuggling operation represents an estimated loss of more than 2,000 billion FCFA over a five-year period, including a direct fiscal shortfall of 165 billion FCFA.