Across various African nations, Central Banks have initiated gold buying programs, a trend that has gained momentum and is hailed as a crucial strategy to combat illicit gold trafficking. In addition to boosting foreign exchange reserves, these mechanisms have helped mitigate an issue that cost States over $350 billion in 2022, according to the report. African countries lost over 4000 tonnes of gold to illicit exports in 2022 ,worth more than $ 30 billion, NGO's report.Highlighting that , the majority of this illegal exported gold originates from artisanal and small-scale mining operations.Some West African States have established gold buying programs from domestic producers to bolster their Central Bank's foreign exchange reserves. A report on the exploitation of artisanal gold miners to fund war , terrorism and organized crime suggests that, these mechanisms can bring more artisanal and small-scale gold miners into the formal fold , preventing their output from being used to finance organized crime and illicit activities. 

Christelle koambi