Because all gold exporters are under their licensure and they receive special financial vehicles that is not available to ordinary account holders.

How do you think your central bank get to know how much tea was exported? Dumb guy

rvp20182:
How does you Central Bank tell which dollars are gold receipt and which aren't.

https://www.reuters.com/investigates/special-report/gold-africa-smuggling/

Billions of dollars’ worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East – a gateway to markets in Europe, the United States and beyond – a Reuters analysis has found.

Customs data shows that the UAE imported $15.1 billion worth of gold from Africa in 2016, more than any other country and up from $1.3 billion in 2006. The total weight was 446 tonnes, in varying degrees of purity – up from 67 tonnes in 2006.

Much of the gold was not recorded in the exports of African states. Five trade economists interviewed by Reuters said this indicates large amounts of gold are leaving Africa with no taxes being paid to the states that produce them.

Ghana local companies that are majority own by Ghanaians and will to structure into large scale players receive incentive from the Ghanaian government.

For example in Dubai(UAE) - alone - you report 0.6B dollars less gold - than what Dubai imports reports
n 2016, UAE reported a much higher value of gold imports from some African states than they said they had exported there. This, trade economists say, is a red flag for illicit activity.

Ghana is one in the graph that is further right.

rvp20182:
That may well be true - but Ghana like Nigeria are incredibly blessed - ought to be there with South Africa, Namibia, Algeria, Botswana. Kenya is basically barren...we have nothing...no gold..no diamond..no oil..not even enough arable land or rains...but look at us....way better than any west African jungle.

It is true. You are a backwater. Even Togo and Benin are better than you. Having no minerals is not an excuse to have so small an economy and so much starvation.

Back to the default mode of heckling. You cannot heckle Africa LARGEST NON MINERAL economy - sitting at No 6 in Africa - and soon to overtake Morroco. This thread is enough evidence.

obaaderemi:
It is true. You are a backwater. Even Togo and Benin are better than you. Having no minerals is not an excuse to have so small an economy and so much starvation.

Ghana's Kumasi the city of gold ---oops Dubai-City of Gold. See what the desert nomads of UAE have done to their country. Ghana you could be this. The camel riding desert nomads have done themselves proud - while Ghana with all your big heads - are still eating rats as a delicacy - yet gold sit there - just need cleaning

rvp20182:
Your smuggled gold show up in China, Dubai and India...and it them reporting there is 5B dollar more gold than you get paid for..don't even talk about Togo, Burkina Faso and other wilderness of west africa.

you keep making noise

No gold gets smuggled from here


all gold export monies stay in the Ghanaian economy as part of the deal Ghana made with gold exporters

the figure is 6 billion dollars under reporting of gold export between 2013 and 2016 by PMMC of Ghana.


it doesn't mean that the export revenue did not come to Ghana through BOG.

I don't remember talking about 6B. We are talking 5B in 2017 alone - as discrepancy in International Trade Statistics on Ghana Gold. Africa alone loses 15B dollars to gold smuggling to Dubai alone.

And don't go far - look at the CHINESE - flocking your country.

Spain did the same to Latin America - and basically built incredible wealth - without ever manufacturing anything. Spain didn't even want any more colonies - all they did was to cart gold

Latin America now finds themselves without any gold - just open pits - the legacy of Spanish terror on them. The Chinese are doing this to you in 21st century.

Just30:
you keep making noise

No gold gets smuggled from here


all gold export monies stay in the Ghanaian economy as part of the deal Ghana made with gold exporters

the figure is 6 billion dollars under reporting of gold export between 2013 and 2016 by PMMC of Ghana.


it doesn't mean that the export revenue did not come to Ghana through BOG.

obaaderemi:
1 Million dollars a day would give you $365million in a year, not 3 billion dollars! The horror of a Kenyan bush education!

And to think you are the smartest little Indian here.
You better stop making a buffoon of yourself and employ just30 or j115 to teach you elementary maths.

lol.

rvp20182:
I don't remember talking about 6B. We are talking 5B in 2017 alone - as discrepancy in International Trade Statistics on Ghana Gold. Africa alone loses 15B dollars to gold smuggling to Dubai alone.

And don't go far - look at the CHINESE - flocking your country.

Spain did the same to Latin America - and basically built incredible wealth - without ever manufacturing anything. Spain didn't even want any more colonies - all they did was to cart gold

Latin America now finds themselves without any gold - just open pits - the legacy of Spanish terror on them. The Chinese are doing this to you in 21st century.

sorry in 2017, Ghana total gold production dropped because the Ghanaian government kicked out all small miners and placed a freeze on their activities so your 5 billion is imaginary

all Chinese that were in the gold business were deported 5000 of them and all equipment seized

I didn't manufacture that 5B. Just google search Gold Ghana 5B 2017.

There were 50,000 of Chinese gold miners. Your police force are very corrupt. I doubt they deported any Chinese.

The documentary by the British Guardian shows a Ghanian whose cocoa farm was just grabbed by Chinese and there is nothing he could do.


https://www.youtube.com/watch?v=ohrrE1rjzLo

Just30:
sorry in 2017, Ghana total gold production dropped because the Ghanaian government kicked out all small miners and placed a freeze on their activities so your 5 billion is imaginary

all Chinese that were in the gold business were deported 5000 of them and all equipment seized

rvp20182:
Back to the default mode of heckling. You cannot heckle Africa LARGEST NON MINERAL economy - sitting at No 6 in Africa - and soon to overtake Morroco. This thread is enough evidence.

Lying as always. You can not lie your way out of the poor and backward conditions of Kenya that this thread has exposed. A $60 bn economy for 50million little Indians.

You still haven't told us how $1m * 365 is $3bn. You fvcking maths- deficient little Indian.

rvp20182:
I didn't manufacture that 5B. Just google search Gold Ghana 5B 2017.

There were 50,000 of Chinese gold miners. Your police force are very corrupt. I doubt they deported any Chinese.

The documentary by the British Guardian shows a Ghanian who cocoa farm was just grabbed by Chinese and there is nothing he could do.


https://www.youtube.com/watch?v=ohrrE1rjzLo

yes you did

just google Ghana places bank on gold mining

There were no 50,000 Chinese gold miners

According to Ghana immigration service, there are only 20,000 Chinese in Ghana as a whole

5000 of them have since been deported because of their involvement in illegal mining activities and overstayed VISA

My police service in less corrupt than Kenyan police force and one on the most professional force on the continent.




Unless the farm is not his, no one can grab it.

rvp20182:
Ghana's Kumasi the city of gold ---oops Dubai-City of Gold. See what the desert nomads of UAE have done to their country. Ghana you could be this. The camel riding desert nomads have done themselves proud - while Ghana with all your big heads - are still eating rats as a delicacy - yet gold sit there - just need cleaning

Lol

Make Google your friend.

Although an exact number is not clear, experts estimate that the Chinese living in Ghana number nearly 700,000 people. 2,4% of the people in Ghana are of Chinese heritage.

Chinese mulatos. Probaly the Only country in Africa to end up with Afro-Chinese people.

Just30:
yes you did

just google Ghana places bank on gold mining

There were no 50,000 Chinese gold miners

According to Ghana immigration service, there are only 20,000 Chinese in Ghana as a whole

5000 of them have since been deported because of their involvement in illegal mining activities and overstayed VISA

My police service in less corrupt than Kenyan police force and one on the most professional force on the continent.




Unless the farm is not his, no one can grab it.

Igbosmoker:
funny thing is most of these countries it's only whites or light skin that are enjoying.

Country like south Africa is still enslaved and controlled by whites

LOL!! Ignorance is Bliss!!

you are really desperate


Ghana NIA data of all registered foreign nationals as required by law says only 20,000 Chinese are in Ghana


Heritage of people living in Ghana can be found on the Ghana 2010 population census.

Afro Chinese is not a thing in Ghana

The picture shows Chinese students in Ghana, we receive a lot of them every year

rvp20182:
Make Google your friend.

Although an exact number is not clear, experts estimate that the Chinese living in Ghana number nearly 700,000 people. 2,4% of the people in Ghana are of Chinese heritage.

Chinese mulatos. Probaly the Only country in Africa to end up with Afro-Chinese people.

rvp20182:
Make Google your friend.

Although an exact number is not clear, experts estimate that the Chinese living in Ghana number nearly 700,000 people. 2,4% of the people in Ghana are of Chinese heritage.

Chinese mulatos. Probaly the Only country in Africa to end up with Afro-Chinese people.

who is this idiot, how can Chinese in Ghana has such number? on what data do you stupidly arrive at that ? I have warn you to stop quoting source from untrusted and biased sites like blog or non academic page like Wikimedia.

if going by people with residential permit , Ghana has no more than 45 thousand foreigners in total that exclude Nigeria which are majorly not documented and refugees

this is not kenya where India and Chinese decides who is who....

https://www.peacefmonline.com/pages/local/news/201407/207752.php

Just30:
sorry in 2017, Ghana total gold production dropped because the Ghanaian government kicked out all small miners and placed a freeze on their activities so your 5 billion is imaginary

all Chinese that were in the gold business were deported 5000 of them and all equipment seized

This is still a big issue in Ghana today .

Baliv254:
Where is kaz kaz ,we are stealing his mountain again, this time all the way from Nairobi..

What with much reduced traffic there's greatly reduced smog and Mt Kili is visible from any city viewpoint.

obaaderemi:
You know,Sam, I just don't understand some of them and their lies. You are dying on a Nigerian forum and at the same time denying your obsession with Nigeria and Nigerians.

I know right...how many Nigerians can they see in their respective countries forum...but they are here hovering around like some bunch of immature flies...

Austine1212:


SA, Mauritius, Morocco, seychelles, Namibia, Tunisia, Algeria, Botswana

Check the HDI, or many other Indexes you will see

Take SA and Namibia off that least..y'all are unequal

samorobo:


I know right...how many Nigerians can they see in their respective countries forum...but they are here hovering around like some bunch of immature flies...

If you want us to leave your forum then Nigerians and Ghanains must leave our countries first. In the meantime just get used to us.

Austine1212:


Check HDI n compare don't be lazy

You don't get it do you..you're the most unequal nation on dear planet earth..your HDI doesn't exist in reality cos it is a facade...

gallivant:


If you want us to leave your forum then Nigerians and Ghanains must leave our countries first. In the meantime just get used to us.

You are stupid...if Nigerians leave your country you will get unemployed,your real estate will dwindle even more,your roads won't be built, E.t.c

samorobo:


You are stupid...if Nigerians leave your country you will get unemployed,your real estate will dwindle even more,your roads won't be built, E.t.c

We are not leaving nairaland then, stop your complaining.

rvp20182:
That may well be true - but Ghana like Nigeria are incredibly blessed - ought to be there with South Africa, Namibia, Algeria, Botswana. Kenya is basically barren...we have nothing...no gold..no diamond..no oil..not even enough arable land or rains...but look at us....way better than any west African jungle.

You're Hallucinating.wake up from it

obaaderemi:
Lying as always. You can not lie your way out of the poor and backward conditions of Kenya that this thread has exposed. A $60 bn economy for 50million little Indians.

You still haven't told us how $1m * 365 is $3bn. You fvcking maths- deficient little Indian.

He won't answer that part..Do t you know you've exposed and embarrassed him..

Only 64 Americans . You data is doggier than Wikipedia.

vaxx1:
who is this idiot, how can Chinese in Ghana has such number? on what data do you stupidly arrive at that ? I have warn you to stop quoting source from untrusted and biased sites like blog or non academic page like Wikimedia.

if going by people with residential permit , Ghana has no more than 45 thousand foreigners in total that exclude Nigeria which are majorly not documented and refugees

this is not kenya where India and Chinese decides who is who....

https://www.peacefmonline.com/pages/local/news/201407/207752.php

obaaderemi:
You know,Sam, I just don't understand some of them and their lies. You are dying on a Nigerian forum and at the same time denying your obsession with Nigeria and Nigerians.

We are here just like Nigerians are in Kenya under the protection of the African Union. If you want us to leave rescind your AU membership and probably your UN membership as well.

gallivant:


We are not leaving nairaland then, stop your complaining.

Y'all are obsessed with Nigeria...you wouldn't find any nigerian in your forum..that is how irrelevant you are to us..

rvp20182:
IMF & WB - have different facilities - Ghana is under bailout (bankruptcy/receivership) - Kenya is not. When you're under bail-out - IMF cease being just a financial institution - become the receiver-manager of your country. You're no longer able to service the loan - and the bank sends a receiver-manager - to basically run your company, see if they can turn it around and if not - maybe sell it or cut their losses.

As for Kenya - Chinese loans are also good. We never signed the Mombasa port to be taken. What we signed was take or pay deal btw Kenya Ports and Kenya Railways. It's akin to your energy sector - where you signed - 30yrs of take or pay for diesel thermal power plants. You already got to "Pay" part of that deal - you're paying for 2,000MW of IDLE Capacity (A WHOOPING 1B DOLLARS). Kenya Ports Authority has not yet reached to PAY part - because they are doing the take part very well.

Please let us learn to speak facts. The 1B dollars idle capacity charge you're paying in your electricity sector is enough to build you a railway every year from one corner of Ghana to the next.

But we know GHANA has possibly the MOST STUPID OF PUBLIC SERVICES - that mistake speaking English like Koffi Annan with Managing a country.

AUWWEEE!? Truly Ghanaians are geniuses- how the actual feck did you end up in such a situation?

The installed capacity according to the Energy Commission of Ghana is 5,083 MW, almost double the peak demand of 2,700 MW. Of this, 2,300 MW has been contracted on a take-or-pay basis. This means that Ghana is contractually obliged to spend money for excess capacity that’s not being consumed.

The result is that the government is paying over US$500m (almost Ghana Cedis 2.5 billion) annually for power generation capacity that’s not being used.

[url][https://www.google.com/amp/s/theconversation.com/amp/lessons-to-be-learnt-from-ghanas-excess-electricity-shambles-121257url]

Another link.

[

b]Ghana’s energy sector will accumulate losses of more than $12.5 billion by 2023[/b] if the country fails to renegotiate deals with independent power producers and gas suppliers, said Finance Minister Ken Ofori-Atta.

[url][/https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2019-10-31/ghana-warns-of-unaffordable-debt-buildup-over-excess-power-deals]

This will drag down your cedi like a 20 kg dumbbell round a drowning man's neck!

With capacity that’s almost double the country’s peak demand needs, Ghana’s electricity utility has to pay independent producers about $450m every year for energy that it doesn’t need or use. This adds to the sector’s liabilities, which are the biggest debt threat to a nation that seven months ago completed its 16th bailout programme with the International Monetary Fund.

Finance minister Ken Ofori-Atta, who will present the 2020 budget next week, has warned that the sector’s “unsustainable” liabilities may amount to $12.5bn — about a fifth of GDP — by 2023 from about $2.5bn in January.

Multiple knowledgeable observers all saying the same thing-THE SKY WILL FALL ON YOU MOFOS SOONER THAN YOU THINK!?
How you got here proves the truth of what the Kenyan MVP has said repeteadly-you guys are SLOW!
Instead of abusing him see how you can employ him even if as only an ad hic consultant at your policy level .
Fyi, I do think this covid 19 scare is theatre to redraw the global financial framework ending debt enslavement and rigged commodity markets. My info has it certain Global Elites intend on a WORLDWIDE debt jubilee. I hope its real but if not you're effed. Those contracts are set in stone -crying, pleading, fasting or mass suicide won't change a thing whether you run to the BIS or private arbitrators.
Continue your childish delusions: the rising sun will catch you wanking yourselves senseless as the effects of the egregious power contracts give you the most painful financial enema in the history of the world.

It may already be too late...

gallivant:


We are here just like Nigerians are in Kenya under the protection of the African Union. If you want us to leave rescind your AU membership and probably your UN membership as well.

You mean apart from the Nigerians in ruira,Karen,Langata and other posh neighbourhoods built for us they are still Nigerians in Kenya...lol are you mad...
Come pick your riff Raff citizens roaming our street, then repeat the same procedure on NL..