Cameroon Gold Scandal: UAE trade data exposes hidden exports amounting $524 million ⁰

Cameroon is set to launch a nationwide operation on August 1 to recover an estimated 305 billion CFA francs ($524 million) in unpaid taxes from undeclared gold exports after trade data from the United Arab Emirates (UAE) exposed major discrepancies in the country’s official export records.

The operation will target 51 mining companies and 33 previously unidentified mining sites suspected of evading taxes and customs duties between 2023 and 2025, according to the Ministry of Mines, Industry and Technological Development.

The crackdown follows findings in the 2023 Extractive Industries Transparency Initiative (EITI) report, which revealed that Cameroon officially declared exporting just 22.3 kilograms of gold in 2023.

In contrast, customs data from the UAE—one of the world’s largest gold trading hubs—recorded imports of more than 15 tonnes of gold originating from Cameroon during the same period.

According to the Gold Demand Trends report published by the World Gold Council, gold sales in the United Arab Emirates reached approximately 37.8 tonnes during the first nine months of 2023, making the UAE one of the world’s largest and most active gold trading and retail markets.

The discrepancy has fueled concerns over widespread underreporting, smuggling, and weak oversight in Cameroon’s mining sector, resulting in significant losses in tax and royalty revenues.

Cameroon moves to tighten oversight

The recovery campaign will be led jointly by the National Mining Corporation (SONAMINES), the Directorate General of Taxes, and the Directorate General of Customs.

Authorities will audit mining firms suspected of under-declaring production while investigating mining sites that allegedly operated outside official records. The government aims to recover unpaid royalties, mining taxes, and export duties tied to undeclared gold production over the past three years.

The initiative comes as African governments increasingly seek to boost domestic revenues amid rising debt pressures and tighter global financing conditions.

For Cameroon, the effort represents one of the country’s most ambitious attempts to formalize its gold industry and curb illicit mineral exports.

The case also highlights how international trade data is becoming an important tool in exposing illicit financial flows.

By comparing export declarations with customs records from importing countries such as the UAE, authorities can identify inconsistencies that point to underreported production or informal exports.

Cameroon is not alone in facing the challenge. Gold-producing countries including Ghana, Sudan, Mali, and the Democratic Republic of Congo have stepped up efforts in recent years to combat smuggling, strengthen mineral traceability, and improve revenue collection from the mining sector.

If successful, Cameroon’s tax recovery drive could serve as a model for how African governments use cross-border trade data to recover lost revenues and tighten oversight of one of the continent’s most valuable export industries.

Source: Business Insider Africa