{"id":25423,"date":"2023-01-27T15:39:41","date_gmt":"2023-01-27T15:39:41","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai"},"modified":"2023-01-27T16:25:10","modified_gmt":"2023-01-27T16:25:10","slug":"why-much-of-africas-illicit-gold-trade-transits-through-dubai","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai","title":{"rendered":"Why much of Africa\u2019s illicit gold trade transits through Dubai"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span><\/a>The gold business is changing, many of the bigger companies are changing their strategies,\u201d says Richard Morgan, head of government relations at mining giant Anglo American.<\/p>\n

\u201cWe are doing much less in Africa and no gold at all. South Africa may still have massive gold reserves but for a big company it\u2019s all about the business case,\u201d he adds.<\/p>\n

A common factor in Africa\u2019s illicit gold trade is how much of the metal transits through Dubai. Figures from the UN\u2019s Comtrade database show that Africa\u2019s share of Dubai\u2019s gold imports rose to 50% from 16% between 2006 and 2016.<\/p>\n

Non-oil trade between Dubai and African states hit $252bn between 2011-2018, making the emirate one of the continent\u2019s most important trading partners.<\/p>\n

The UAE is among the 10 biggest sources of investment in Africa, much of it in the mining sector. Dubai-based investors are financing a wave of mini-refineries there. Trading in gold accounts for about 20% of the UAE economy.<\/p>\n

Although its main trading platform, the Dubai Multi Commodities Centre, says it meets \u201cinternational benchmarks\u201d for responsible sourcing set out by the OECD and demands comprehensive export documentation, independent studies dispute this.<\/p>\n

In April, the US-based Financial Action Task Force put Dubai on its watchlist, complaining about the limited number of prosecutions for money laundering.<\/p>\n

Kleptocrats and oligarchs find even less scrutiny of their businesses in Dubai than they would in other favoured destinations such as London and Switzerland.<\/p>\n

A lengthy report on Dubai\u2019s financial and trading sector by the US-based Carnegie Foundation concluded that the emirate\u2019s \u2018highly personalised institutions\u2019 and the \u2018lack of domestic and international pressure\u2019 meant that \u2018Emirati elites are free to resist reforms that endanger their vested interests or preferred political vision for Dubai and the UAE overall.
\nAttempts by Western governments to call out Dubai for aiding illicit financial flows such as gold smuggling can clash with the need to have a dependable ally in the Gulf.<\/p>\n

Several regional experts told The Africa Report that the UAE\u2019s recognition of Israel, in a deal brokered by US secretary of state Mike Pompeo, would make international pressure on the Emirates over financial flows even less likely.<\/p>\n

African states will face some tough choices in managing the pandemic-\u00adinduced economic slowdown. Many may seek to cut revenue losses from gold smuggling but they will struggle to take on the vested interests that benefit from the region\u2019s booming illicit trade with Dubai.<\/p>\n

For More News And Analysis About Mauritius<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. The gold business is changing, many of the bigger companies are changing their strategies,\u201d says Richard Morgan, head of government relations at mining giant Anglo American. \u201cWe are doing much less in Africa and no gold at all. South Africa may still have massive gold reserves but for a big company it\u2019s […]<\/p>\n","protected":false},"author":84,"featured_media":25422,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"tags":[242,233,245,241],"class_list":["post-25423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-africa","tag-africa-press","tag-africa-press-mauritius","tag-mauritius"],"yoast_head":"\nWhy much of Africa\u2019s illicit gold trade transits through Dubai - Mauritius<\/title>\n<meta name=\"description\" content=\"The gold business is changing, many of the bigger companies are changing their strategies,\u201d ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why much of Africa\u2019s illicit gold trade transits through Dubai\" \/>\n<meta property=\"og:description\" content=\"The gold business is changing, many of the bigger companies are changing their strategies,\u201d ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-27T15:39:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-27T16:25:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/01\/postQueueImg_1674821474.52.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"732\" \/>\n\t<meta property=\"og:image:height\" content=\"419\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Why much of Africa\u2019s illicit gold trade transits through Dubai\",\"datePublished\":\"2023-01-27T15:39:41+00:00\",\"dateModified\":\"2023-01-27T16:25:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai\"},\"wordCount\":430,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/01\/postQueueImg_1674821474.52.jpg\",\"keywords\":[\"Africa\",\"Africa Press\",\"Africa Press-Mauritius\",\"Mauritius\"],\"articleSection\":[\"all news\",\"files\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai\",\"name\":\"Why much of Africa\u2019s illicit gold trade transits through Dubai - Mauritius\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/01\/postQueueImg_1674821474.52.jpg\",\"datePublished\":\"2023-01-27T15:39:41+00:00\",\"dateModified\":\"2023-01-27T16:25:10+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"The gold business is changing, many of the bigger companies are changing their strategies,\u201d ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/01\/postQueueImg_1674821474.52.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/01\/postQueueImg_1674821474.52.jpg\",\"width\":732,\"height\":419,\"caption\":\"Why much of Africa\u2019s illicit gold trade transits through Dubai\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/mauritius\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why much of Africa\u2019s illicit gold trade transits through Dubai\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#website\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/\",\"name\":\"Mauritius\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/mauritius\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Why much of Africa\u2019s illicit gold trade transits through Dubai - Mauritius","description":"The gold business is changing, many of the bigger companies are changing their strategies,\u201d ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai","og_locale":"en_US","og_type":"article","og_title":"Why much of Africa\u2019s illicit gold trade transits through Dubai","og_description":"The gold business is changing, many of the bigger companies are changing their strategies,\u201d ...","og_url":"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai","og_site_name":"Mauritius","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2023-01-27T15:39:41+00:00","article_modified_time":"2023-01-27T16:25:10+00:00","og_image":[{"width":732,"height":419,"url":"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/01\/postQueueImg_1674821474.52.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Why much of Africa\u2019s illicit gold trade transits through Dubai","datePublished":"2023-01-27T15:39:41+00:00","dateModified":"2023-01-27T16:25:10+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai"},"wordCount":430,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/01\/postQueueImg_1674821474.52.jpg","keywords":["Africa","Africa Press","Africa Press-Mauritius","Mauritius"],"articleSection":["all news","files"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai","url":"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai","name":"Why much of Africa\u2019s illicit gold trade transits through Dubai - Mauritius","isPartOf":{"@id":"https:\/\/www.africa-press.net\/mauritius\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/01\/postQueueImg_1674821474.52.jpg","datePublished":"2023-01-27T15:39:41+00:00","dateModified":"2023-01-27T16:25:10+00:00","author":{"@id":"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"The gold business is changing, many of the bigger companies are changing their strategies,\u201d ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai#primaryimage","url":"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/01\/postQueueImg_1674821474.52.jpg","contentUrl":"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/01\/postQueueImg_1674821474.52.jpg","width":732,"height":419,"caption":"Why much of Africa\u2019s illicit gold trade transits through Dubai"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/why-much-of-africas-illicit-gold-trade-transits-through-dubai#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/mauritius\/"},{"@type":"ListItem","position":2,"name":"Why much of Africa\u2019s illicit gold trade transits through Dubai"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/mauritius\/#website","url":"https:\/\/www.africa-press.net\/mauritius\/","name":"Mauritius","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/mauritius\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/posts\/25423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/comments?post=25423"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/posts\/25423\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/media\/25422"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/media?parent=25423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/categories?post=25423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/tags?post=25423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}