Tuesday’s meeting at the Ministry of Trade focused on reforming the gold sector and improving oversight.

Key decision-makers gathered Tuesday in the Ministry of Trade’s conference hall to address structural reforms in Cameroon’s gold industry and strengthen supply chain transparency. Chaired by the Minister of Mines, Industry and Technological Development, Professor Fuh Calistus Gentry, the session brought together top officials from customs, taxation, treasury, the National Mining Corporation (SONAMINES), and the Permanent Secretary of the National Gold and Precious Metals Committee (SNPPK).

Judicial crackdown launched

The discussions centered on tightening gold traceability, restructuring the value chain, and enhancing inter-agency coordination to combat illegal mining and smuggling. Participants emphasized that the meeting marks a turning point in cross-institutional collaboration, aiming to boost state revenue, curb informal trade, and ensure transparent governance of Cameroon’s gold resources.

The gathering follows a broader government push to regulate mineral extraction and introduce stricter oversight in the gold sector. Recent reports have exposed massive gold smuggling, prompting authorities to launch sweeping judicial and economic measures to clean up the industry.

FCFA 165 billion revenue loss

These actions respond to findings from the Extractive Industries Transparency Initiative (EITI), which revealed a stark discrepancy: while Cameroonian customs recorded just 22 kg of gold exports, over 15 metric tons of Cameroonian gold were declared upon arrival in the United Arab Emirates. This smuggling epidemic has drained state coffers of an estimated FCFA 2,000 billion over five years, including FCFA 165 billion in lost direct tax revenue.