Galamsey’s financial fallout: business bottomline, stability at risk – says Joe Jackson

During a recent discussion, Joe Jackson, CEO of Dalex Finance, emphasized the severe consequences of illegal mining, or galamsey, on Ghana’s economy, including rising health insurance costs and absenteeism.

He warned that unchecked galamsey could destabilize the economy and urged business leaders to advocate against it.

Jackson highlighted the challenge posed by informal gold buyers who undermine the legal market, exacerbating money laundering and depriving the state of tax revenues.

He called for a recalibrated strategy addressing both the supply and demand sides of the issue and advocated for a holistic approach involving all stakeholders to tackle the root causes.