The latest report from the Extractive Industries Transparency Initiative (EITI), published on December 10, 2023, reveals a staggering discrepancy between Cameroon's official gold production and actual exports. This opaque system deprives the state of enormous resources.

The shocking figure: a ratio of 1 to 600

Official statistics from Yaoundé appear disconnected from the global market. In 2023, the contrast is striking:

1. Production declared by Cameroon: 953 kg.
2. Official exports: Only 22.3 kg.
3. Declared global imports (origin Cameroon): 15.2 tonnes.

The United Arab Emirates alone captures nearly 90% of this flow. In other words, the volume of Cameroonian gold circulating internationally is 600 times greater than the figures declared by national authorities.

A financial hemorrhage for the state

According to geological expert Dr. Youmssi Bareja, this situation demonstrates a total loss of control over the resource. The value of these 15 tons of gold is estimated at approximately 900 billion FCFA (1.36 billion euros).

The damage to public coffers is direct:

1. Estimated tax losses: 165 billion FCFA ( 250 million euros ).
2. Negligible budgetary impact: Despite historically high gold prices, mining taxes represent less than 1% of the state budget.
3. Sonamines fails: The state-owned company, supposed to collect 5% of national production, is unable to capture the windfall which evaporates through illegal channels.

“Virtually all of Cameroon’s gold production passes through illegal channels. This is a huge loss, especially since any gold project is profitable today.” — Dr. Youmssi Bareja

Recommendations to stop fraud

To put an end to this plundering of natural resources, the EITI report recommends shock therapy:

1. Border security: Strengthen controls to block clandestine exits.
2. Dismantling the networks: Identifying illegal collection and sales channels.
3. Institutional coordination: Harmonizing the work between the Ministry of Mines, Sonamines and Customs to guarantee real traceability.

To date, the Cameroonian government has not yet officially reacted to these revelations.