Burkina Faso Says It Has Earned $18 Billion From Gold Since Traoré Took Power

OUAGADOUGOU, Burkina Faso — Burkina Faso’s transitional government says it has generated $18 billion in revenue from gold mining since Capt. Ibrahim Traoré seized power in a 2022 military coup.

Traoré, who came to power promising to return control of the country’s vast natural resources to the Burkinabé people, has said that gold profits are now being used to benefit the nation rather than foreign companies and private interests.

The country’s mining minister said the revenue has been a vital part of government efforts to strengthen the economy and fund public services, including health care, education, and security.

Burkina Faso, one of Africa’s top gold producers, continues to face serious economic and security challenges, particularly from ongoing conflict with extremist groups in the north and east. However, the military-led government has emphasized that natural resource wealth should directly support the country’s development.

Some analysts and civil society groups have questioned the transparency of how the gold revenues are being managed. They are calling for independent oversight and regular public reporting to ensure accountability.

GAROWE ONLINE