Madagascar Faces Severe Gold Smuggling Issues with Annual Value of $2.8 Billion
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 02 2026- Gold Smuggling Phenomenon: Madagascar produces up to 20 tonnes of gold annually, valued at $2.8 billion based on current prices, yet almost none appears in official trade records, severely impacting national revenue.
- Criminal Group Activities: The central bank governor stated that criminal gangs use aircraft and helicopters for gold smuggling, with the government's strategy aimed at reducing this illegal trade to protect the national economy.
- National Buying Programs: Madagascar and other countries like Ecuador and Ghana are implementing domestic buying programs to attract small-scale miners into regulated markets, thereby reducing reliance on smugglers and increasing state revenue.
- Environmental and Social Impact: Illegal gold mining leads to environmental pollution and is linked to human trafficking and funding for armed groups, placing immense pressure on the government to regulate this sector.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
