• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Kenya Serves as Hub For Smuggled Gold From Other African Countries

5 months ago
in Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
42
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

GHASALC Relaunches Industry Games After Eight-Year Hiatus as Bayport Savings and Loans Headlines 2025 Edition

IFRIG Ghana Wins Islamic Finance Institution of the Year at AICIF 2025

African Development Bank Piloting Several Financial Instruments to Support African Countries in Tackling Climate Change

Kenya Serves as Hub For Smuggled Gold From Other African Countries

Kenya has emerged as a major transit hub for gold smuggled out of African countries plagued by conflict and weak governance.

Kenya has emerged as a major transit hub for gold smuggled out of African countries plagued by conflict and weak governance, according to a new report by SwissAid, a non-governmental organization focused on development and resource justice.

Most of the country’s gold output comes from artisanal and small-scale mining (ASM), a largely informal sector outside official state monitoring.

As a result, the majority of Kenya’s gold production goes unrecorded. While illicit gold exports are estimated to exceed two tons each year, only 672 kilograms were officially declared in 2023, according to a Bern-based organization.

“Part of the gold that is smuggled out of South Sudan, the Democratic Republic of Congo and, to a lesser extent, Ethiopia, and possibly Sudan passes through Kenya before being ultimately reexported,” according to the report.

Most, if not all, of the gold extracted in Kenya, or imported into the country, is eventually exported.

Most of the gold smuggled out of Kenya is shipped to Dubai, where it is officially declared upon import, according to the report. Other common destinations include India and South Africa. The report also suggests that Kenya may serve as a transit hub for gold originating from Sudan, a country engulfed in civil war since 2023.

Meanwhile, Kenya’s officially declared gold output, mainly from two licensed medium-scale mines, is exported to refiners in South Africa and Switzerland.

A previous report by the same organization warned that revenues from this illicit gold trade are helping to fuel conflict, fund criminal and terrorist networks, undermine democratic institutions, and facilitate large-scale money laundering.

Source: businessinsiderafrica
Via: norvanreports
Tags: African CountriesKenya Serves as Hub For Smuggled Gold From Other African CountriesSmuggled Gold

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

COP30: African Development Bank to Champion Africa’s Push for Climate Finance Reform and Just Energy Transition

A Crisis of Abundance: Why Ghana’s Grain Farmers Are Burdened by Their Own Harvest

Djokovic and Sabalenka Set for Final Showdowns in Athens and WTA Finals

Ghana Premier League Matchday 9 Preview

Lando Norris Secures Pole Position for Brazilian Grand Prix Sprint Race

Beyond the Headlines: A Love Letter to Journalism 

Trending

Business

GHASALC Relaunches Industry Games After Eight-Year Hiatus as Bayport Savings and Loans Headlines 2025 Edition

November 8, 2025

GHASALC Relaunches Industry Games After Eight-Year Hiatus as Bayport Savings and Loans Headlines 2025 Edition The Ghana...

IFRIG Ghana Wins Islamic Finance Institution of the Year at AICIF 2025

November 8, 2025

African Development Bank Piloting Several Financial Instruments to Support African Countries in Tackling Climate Change

November 8, 2025

COP30: African Development Bank to Champion Africa’s Push for Climate Finance Reform and Just Energy Transition

November 8, 2025

A Crisis of Abundance: Why Ghana’s Grain Farmers Are Burdened by Their Own Harvest

November 8, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.