On 24 November 2023, the Ministry of Energy, Mines and Quarries organised a workshop to validate the draft National Strategy to Combat Gold Fraud, Money Laundering and the Financing of Terrorism in the Mining Sector (SNLFO-BC/FT) and its three-year Action Plan (Plan d’actions triennal – PAT). The validation was opened by Yaya Sankara, Chief of Staff to the Minister of Energy, Mines and Quarries.
A benchmark for all those involved in the fight against fraud involving gold and other precious substances
The mining sector is a major pillar of Burkina Faso’s economy. It creates thousands of jobs and generates significant revenue for the State, local authorities and local populations. Indeed, according to statistics, gold mining will contribute 430.756 billion FCFA to the state budget in 2021 and 540.984 billion FCFA in 2022, an increase of more than 110 billion FCFA. However, according to Yaya Sankara, Director of Cabinet at the Ministry of Mines, this contribution to the State budget could have been greater had it not been for the scale of fraud in the marketing of gold and other precious substances. In addition to causing a loss of resources for the State, fraud in the marketing of gold and other precious substances fuels money laundering and the financing of terrorism, revealed the Cabinet Director.
It is this state of affairs, in the particular context of the security challenges facing Burkina Faso, that has necessitated a response commensurate with the issues at stake. It is to this concern that the National Strategy to Combat Gold Fraud, Money Laundering and the Financing of Terrorism in the Mining Sector (SNLFO-BC/FT) and its three-year Action Plan (Plan d’actions triennal – PAT) seek to respond,” said the representative of the Minister for Mines.
“Today’s national validation workshop is an important step before the draft strategy and action plan are submitted to the National Development Planning Commission (CNPD) for review. It is intended to be a time for capitalising on your contributions and taking ownership of the SNLFO-BC/FT. It should not be seen as the strategy of the National Gold Anti-Fraud Brigade (Brigade nationale de lutte Anti-fraude de l’or – BNAF), but rather as a reference for the combined efforts of all those involved in the fight against fraud involving gold and other precious substances”, he said.
The SNLFO-BC/FT is also intended to be the umbrella organisation for all initiatives to combat fraud in the marketing of gold and other precious substances. According to Yaya Sankara, the strategy and its action plan are due to be adopted by the government before the end of 2023.
Gold fraud on an unprecedented scale
The strategy development process was led by BNAF, which set up a working group whose findings were examined at the technical workshop to validate the SNLFO-BC/FT and its Action Plan, held from 15 to 17 November 2023.\
According to Aboubacar Sawadogo, Director General of BNAF, gold fraud is on an unprecedented scale in Burkina Faso. “The data available to us shows that between 9 and 25 tonnes of gold are defrauded every year in Burkina Faso. These quantities are generally smuggled out of the country, costing the state enormous resources in terms of billions of FCFA”, he lamented. Aboubacar Sawadogo expressed the hope that this National Strategy would help to minimise, if not eradicate, gold fraud, and in turn generate substantial resources for the Treasury.
The Director of Cabinet at the Ministry of Mines invited the participants to engage in frank and constructive discussions, because the results should make it possible to realise this ambition for a mining sector that generates resources for all and is a catalyst for development.
Pierre Balma
#Mines_Actu_Burkina
