Madagascar President reports 100 tonnes of gold exported annually to Dubai

Colonel Michaël Randrianirina, President of the Refondation of the Republic, has stated that approximately 100 tonnes of gold leave Madagascar every year destined for Dubai. This figure does not include additional exports to Europe and India.

During a visit to Ivato International Airport, the President described national border controls as a “passoire” (sieve), alleging that smuggling networks exploit significant security flaws and corruption within airport services. He noted that illicit activities often shift locations, such as moving from Antananarivo to Nosy Be, when surveillance increases in one area.

To combat these losses, Randrianirina proposed implementing rigorous transaction traceability and an efficient single-window system. He estimated that better management of the gold sector could allow Madagascar to repatriate up to $10 billion in foreign exchange, potentially reducing the nation's financial dependence on the International Monetary Fund (IMF).