• 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
41
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Let’s Collaborate to Exploit Full Potential of AfCFTA – Mahama to Grenada PM

HSBC Expects Gold’s ‘Bull Wave’ to hit $5,000 in 2026

Nigeria’s Finance Ministry Form Team to Study Stablecoin Adoption

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

The $15 Trillion African Alliance: How Pierre Goudiaby Atepa is Proving his IMF Friend Wrong

No 7% Tax on Visa and Mastercard Transactions — NorvanReports Investigation Debunks Social-Media Claims

World Bank President Ajay Banga Outlines Jobs-Focused Development Strategy at 2025 Annual Meetings

World Bank’s Development Committee Reaffirms Commitment to Global Growth Amid Rising Uncertainty

Global Oil Price Decline Creates Winners and Losers Across Africa

Premier League Signings: How the Big Money Moves Are Performing So Far

Trending

Business

Let’s Collaborate to Exploit Full Potential of AfCFTA – Mahama to Grenada PM

October 18, 2025

Let’s Collaborate to Exploit Full Potential of AfCFTA - Mahama to Grenada PM Ghana and Grenada, a...

HSBC Expects Gold’s ‘Bull Wave’ to hit $5,000 in 2026

October 18, 2025

Nigeria’s Finance Ministry Form Team to Study Stablecoin Adoption

October 18, 2025

The $15 Trillion African Alliance: How Pierre Goudiaby Atepa is Proving his IMF Friend Wrong

October 18, 2025

No 7% Tax on Visa and Mastercard Transactions — NorvanReports Investigation Debunks Social-Media Claims

October 18, 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.