Malawi is currently facing a severe economic drain as hundreds of millions of dollars in gold are illegally smuggled out of the country every year.
This illicit gold trade leaves local communities and the state without their rightful share of the nation's mineral wealth. The government is now taking steps to clean up the sector and halt the flow of smuggled resources.
The massive scale of illicit gold smuggling in Malawi
The true scale of the crisis was recently brought to light by Professor Leonard Kalindekafe, the Chief Executive Officer of the Malawi Mining Investment Company (Mamico).
According to Professor Kalindekafe, Malawi is losing up to a staggering $700 million worth of gold annually to illegal smuggling.
