A pivotal meeting was held this Tuesday, July 14, 2026, in the Ministry of Commerce conference room to address the challenges in Cameroon’s gold sector.

A significant working session convened on July 14, 2026, at the Ministry of Commerce’s conference facilities. The primary agenda included the comprehensive restructuring of Cameroon’s gold industry and the imperative to enhance gold traceability throughout its value chain.

Presiding over these deliberations was Professor Fuh Calistus Gentry, the interim Minister of Mines, Industry, and Technological Development (MINMIDT). Key administrative leaders were also in attendance, including the Director General of Customs, the Director General of Taxes, the Director General of the Treasury, the Director General of SONAMINES, and the Permanent Secretary of SNPPK, alongside other MINMIDT officials.

Judicial and economic crackdown

The discussions centered on crucial measures to bolster gold traceability, streamline the gold value chain, and foster improved coordination among various government agencies overseeing the sector. Participants underscored that this collaborative effort marks a new phase of inter-institutional cooperation, designed to achieve several critical goals: boosting fiscal revenue collection, dismantling informal gold trade networks, and increasing state profits derived from gold exploitation.

This high-level meeting takes place as Cameroonian authorities intensify their endeavors to better regulate the nation’s mineral resources and establish more transparent governance within the gold industry. In response to the extensive illicit exploitation of its gold reserves, the Cameroonian government has initiated a broad judicial and economic campaign aimed at purifying its gold sector.

Significant financial losses

This governmental response was prompted by alarming revelations from the Extractive Industries Transparency Initiative (ITIE). Their findings exposed a massive disparity: while official customs records indicated only 22 kilograms of gold exports, over 15 metric tons of gold originating from Cameroon were declared upon arrival in the United Arab Emirates. This rampant smuggling activity has resulted in an estimated loss exceeding 2,000 billion FCFA over a five-year period, with a direct fiscal shortfall of 165 billion FCFA.