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Welcome to Global Eye
from the BBC World Service.
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Every week, we bring you the best
in the World Service's
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investigative journalism,
as well as unmissable reporting
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from BBC teams around the globe.
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I'm Aleem Maqbool,
and this week we're in Ghana.
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The wounds of slavery
are still raw here
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and Ghana's led calls
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for financial reparations
for the slave trade.
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But will it require more than just
money to heal generational trauma?
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Also on the programme,
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BBC Eye gets exclusive access
to Interpol officers
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as they help a father
in Sierra Leone search
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for his children and hunt down
the traffickers who took them.
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And we'll find out why the price of
gold reached record highs this year,
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and why that might be bad news
for the state of the world.
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In recent months in particular,
Ghana has been at the forefront of
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a landmark global campaign
on the issue of reparations,
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calling for institutions
and nation states around
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the world that benefited from
the transatlantic slave trade
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to acknowledge their complicity,
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to apologise for it and
to start to make financial amends.
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It is a campaign that
is gaining considerable traction.
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But why is Ghana
leading this charge?
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What, in practical terms,
is it asking for?
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And will anything
really be achieved,
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given the vehement opposition
from some people to it?
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Well, we've come a few hours' drive
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from Accra to Cape Coast Castle,
and this is,
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without exaggeration,
one of the most haunting,
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most moving places
I've ever been to.
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It was run from the 17th century
by the British,
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and this is where huge numbers
of enslaved people
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were forced from
all over West Africa.
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Why were they brought here?
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Well, this is a spot that juts out
into the Atlantic Ocean.
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Before they were put on ships,
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this dank dungeon is where
the female slaves were held,
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and it is difficult to describe
the emotion you feel
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knowing the suffering
and fear there was here.
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Now, there has been a big push
for Britain to truly acknowledge
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what happened here
and to many, many other slaves.
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But there's also been a push
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for British institutions to do
the same thing.
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It's why
the Archbishop of Canterbury,
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Dame Sarah Mullally, leader of
the Church of England, visited here.
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When they stepped out,
they were chained
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and waited in line till they got
a sizeable group,
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and then they were marched
through that door.
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So that door became known
as the Door of No Return.
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The church's missionary wing
ran slave plantations,
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individual clergy owned slaves,
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the church accepted money
from slave traders
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and invested directly in the trade.
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Well, this is that door
of no return through which slaves
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were marched, often dragged.
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And when Dame Sarah Mullally
came here, she was full of emotion.
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She felt moved to pray at this door
as well.
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And she said all of this
made her reflect
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on the responsibility of
the institution she now leads
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in all of this suffering.
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We have to recognise that,
as a church, we played that part.
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We have to apologise for that.
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Part of the Christian belief
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in repentance is, when you repent,
you turn round.
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There's something about action.
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That action comes
in the way of a £100 million fund
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the church has committed
to help make amends,
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but there's a push for nations
to commit to reparations.
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Well, earlier this year,
at the United Nations,
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Ghana tabled a resolution
to recognise
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the transatlantic slave trade as
the greatest crime against humanity.
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That resolution was passed,
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but that's in spite of the fact
that all European nations
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abstained from the vote.
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Nevertheless, why is it that Ghana
is leading this charge?
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Ghana was the crime scene
where these atrocities took place.
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More than 12.5 million Africans
forcibly removed,
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torn from their families,
from homes, from villages.
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Ghana cannot afford
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to be silent on this
consequential matter,
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which has to do
with historical justice.
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Well, you had those oppressors,
those who profited,
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who were from some tribes here
in Ghana themselves.
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Look, the entire transatlantic
enslavement and chattel enslavement
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of Africans was designed,
choreographed,
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curated by the West.
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So we don't buy that argument.
There's just a few, you know,
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elements who were coerced
by those who designed the system,
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but it doesn't make
Africans culpable.
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Well, some tribal leaders here
have apologised
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for the complicity of
their ancestors in the slave trade,
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like King Tackie Teiko Tsuru II,
of the Ga people
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who spoke to us in
a rare interview.
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I still stand on the same
point of apologising...
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...on behalf of all
traditional authority...
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...my ancestors and forebears
for the part they also played...
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...in the slavery
of our brothers and sisters.
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Does that mean
that some tribes here
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need to think about what they can do
in terms of reparations?
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Yes, I believe that we...
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must go beyond the aspect
of an apology.
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So that is the way
you yourself are thinking... Yes.
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...about what you can contribute.
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That we can contribute.
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Well, another dimension
to Ghana's campaign
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is to try to attract people
from the diaspora to return,
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as they call it, to West Africa.
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And so that has been going on
for the last few years,
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particularly attracting a lot
of African Americans,
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a lot of them you see
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and hear around this arts market
in Accra.
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This is really...
You're talking about catering
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for an American... Exactly.
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...African American market.
Yeah, yeah. Wow.
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And it is an art market
that's changed.
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We're here to meet Yaw Asare,
an academic researcher,
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but one who used to work
at Ghana's diaspora office.
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He's loved the gathering
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of black people from
all over the world here,
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but says reparations
and this project to bring back
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the diaspora should be about repair,
not bringing in cash.
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We are dealing with humans.
We are dealing with people,
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you know,
who as a result of, you know...
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So we cannot reduce them to,
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oh, come see this site,
pay this much, and then...
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So I would say the excessive focus
on tourism.
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And I thought that maybe
that would have been a good time
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for us to also deal with some
things that morally are not right.
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Like, for example,
why should a diasporic African pay
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as much as a white person
in the slave dungeons?
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Well, it is Yaw's view and the view
of many other sociologists here
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that such is the generational fear
in West Africa
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that, in spite of the vast lands
that, for example,
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Ghana has, people here
build their homes
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very closely together
because they're worried
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that if they live away from
the community, they could get taken.
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Now, reparations in the form
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of money might help
in some capacity,
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but it's clearly going
to take much more than just cash
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to repair trauma as deep as that.
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Now, human trafficking scams
promising jobs abroad
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in exchange for money
are increasingly being
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detected across West Africa,
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including here in Ghana
and also in Sierra Leone.
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The victims often spend
thousands of dollars
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on jobs that never materialise,
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and are also then held captive
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and coerced into recruiting friends
and family.
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BBC Eye has been given
exclusive access
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to Interpol
and the Sierra Leone police
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as they target the trafficking
networks and also try
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to help one father find
his missing children.
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Saidu Bah reports from Makeni
in Sierra Leone's northern province.
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Young people across West Africa
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are becoming victims of
a trafficking scam.
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The scam works like this -
young people
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are lured in by offers of work
in America, Canada, Dubai or Europe,
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but first they have to pay
large sums of money to join.
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Once they've paid,
they are trafficked to
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a neighbouring country
in West Africa.
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They are told that,
before they can travel,
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they must recruit others,
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pretending to them
that they've already
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travelled abroad
and they are living the dream.
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Traffickers are pretending
to be associated with
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a legitimate global brand
called Qnet,
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which they are using as a front
for their illegal activities.
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Qnet is a wellness and lifestyle
company founded in Hong Kong.
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But its name has been a byword
for this type of trafficking.
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We don't have official
statistics on victims,
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but there seems to be
hundreds in Makeni,
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a city in northern Sierra Leone.
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Some have come from Guinea,
Ivory Coast and Mali.
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Two young Guineans have been missing
for more than a year.
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They are believed to be victims
of trafficking scam.
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Mahmoud Conteh
from Sierra Leone's police
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has been asked by Interpol Guinea
to rescue them.
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Their family has paid
over 25,000 USD to the traffickers.
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A source tells him the young
people may be in Makeni.
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Why do you think Makeni is becoming
a hub for human trafficking?
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It's like Makeni is in the centre,
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almost in the centre
of Sierra Leone,
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and it's very easy for traffickers
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to manoeuvre
across each of our borders,
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at these illegal crossing points.
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The children's father has travelled
across the border
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from Guinea to Makeni.
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His 18-year-old daughter and
22-year-old son were recruited
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from their remote village.
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His son has been sending the family
messages begging for help.
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For weeks, the police source
has been monitoring
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several locations where young people
are known to be held captive.
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HE GIVES COMMAND
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Foday is joining the police
on the raid.
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He is hoping to see his children
for the first time in a year.
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OK.
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Hey, gentlemen. Stay inside. Stay.
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Inside, there is a large group
of people, some as young as 14.
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They are mainly
from neighbouring countries.
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00:14:08,040 --> 00:14:10,519
It seems about ten to 15 people
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are sleeping on
the floor in each room.
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There is no sign of the traffickers.
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Foday Musa asks around to see
if anyone knows his children.
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But it becomes clear
they are not here.
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One young man claims
to have seen them.
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This is the first potential sighting
we've had of them.
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The young people who have been found
will be transferred
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to the police station for screening
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before being taken back
to their home countries.
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While in Makeni, a survivor
of a labour trafficking scam
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tells me she paid traffickers
1,000 USD
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hoping to travel to America.
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She wants to be anonymous
for her safety.
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It has been three days
of searching and raids,
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but Foday's children
have not been found.
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The trafficking bosses then get
in touch with the police.
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They want to secure the release
of a gang member
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arrested in an earlier raid.
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The police use this opportunity
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to ask the release
for these children.
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LINE RINGS
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Hello?
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Mm-hm.
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Yeah.
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The police say they will not accept
money from the traffickers,
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and that it is just a tactic.
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But it is still shocking to me
to see how easy
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it is for them to pick up the phone
and negotiate in this way.
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If the police know
who the bosses are,
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and have an open line
of communication,
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it begs the question -
why are they not arresting them?
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They plan to meet face-to-face
with the traffickers
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never materialises,
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and Foday returns to Guinea
without his children.
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After five days,
time and money have run out
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and Mahmoud and his team
must return to Freetown.
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00:19:34,880 --> 00:19:38,519
Shortly after their last raid,
the police received news
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00:19:38,520 --> 00:19:41,080
that the traffickers
have released Foday's children.
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00:20:07,000 --> 00:20:08,440
HORN TOOTS
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00:20:14,040 --> 00:20:16,799
A few weeks later,
Foday's daughter confirms
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00:20:16,800 --> 00:20:21,399
she is back in Guinea, but she
has not returned to her village.
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00:20:21,400 --> 00:20:24,080
He still doesn't know
where his son is.
243
00:20:40,000 --> 00:20:41,279
Sierra Leone police says
244
00:20:41,280 --> 00:20:44,440
it has conducted over 20 raids
in the last year...
245
00:20:45,880 --> 00:20:48,840
...rescuing hundreds of victims
of human trafficking.
246
00:20:51,280 --> 00:20:53,559
While we don't know
the exact reasons
247
00:20:53,560 --> 00:20:56,319
why Foday's children
haven't gone home,
248
00:20:56,320 --> 00:20:59,919
we do know that many young people
who have been trafficked
249
00:20:59,920 --> 00:21:01,919
are often scared to return
250
00:21:01,920 --> 00:21:05,160
due to the shame
and stigma of being scammed.
251
00:21:06,600 --> 00:21:08,919
You can watch the full-length
documentary,
252
00:21:08,920 --> 00:21:11,759
Hunting The Traffickers,
on BBC iPlayer
253
00:21:11,760 --> 00:21:14,520
and on the BBC World Service
YouTube channel.
254
00:21:16,800 --> 00:21:19,159
Here's some more
World Service content
255
00:21:19,160 --> 00:21:20,999
that made an impact this week.
256
00:21:21,000 --> 00:21:24,119
In the wake of the powerful
earthquake that struck Colombia,
257
00:21:24,120 --> 00:21:28,199
BBC Mundo provided comprehensive
coverage of the aftermath.
258
00:21:28,200 --> 00:21:32,319
Alongside in-depth analysis of
the science behind the tragedy,
259
00:21:32,320 --> 00:21:35,679
Mundo gathered dramatic testimony
from survivors,
260
00:21:35,680 --> 00:21:39,199
and was at the front line
of Colombia's rescue effort.
261
00:21:39,200 --> 00:21:41,359
You can find BBC Mundo stories,
262
00:21:41,360 --> 00:21:44,919
videos and live streams
on its official website
263
00:21:44,920 --> 00:21:47,560
and on the BBC Mundo
YouTube channel.
264
00:21:50,160 --> 00:21:53,799
For centuries,
gold has been mined in Ghana.
265
00:21:53,800 --> 00:21:57,999
It remains one of
Africa's biggest gold producers.
266
00:21:58,000 --> 00:22:01,399
But now, in an increasingly
uncertain world,
267
00:22:01,400 --> 00:22:06,119
the strategic global importance
of gold is rising once again.
268
00:22:06,120 --> 00:22:10,519
In an age of electronic payments
and digital currencies,
269
00:22:10,520 --> 00:22:13,599
there is a modern gold rush
under way.
270
00:22:13,600 --> 00:22:16,759
In 2025 and in early 2026,
271
00:22:16,760 --> 00:22:20,799
the price of gold reached
unprecedented levels.
272
00:22:20,800 --> 00:22:24,879
So what's behind this scramble,
and what can gold tell us about
273
00:22:24,880 --> 00:22:28,319
the changing geopolitics
of the 21st century?
274
00:22:28,320 --> 00:22:32,319
The World Service's
global journalism team has more.
275
00:22:32,320 --> 00:22:36,999
Before money was paper or plastic,
a lot of it was actually gold.
276
00:22:37,000 --> 00:22:39,679
These coins are thought to be among
the first-ever minted,
277
00:22:39,680 --> 00:22:41,759
in the sixth century BC.
278
00:22:41,760 --> 00:22:45,520
They were used by the ancient
Lydian society in what's now Turkey.
279
00:22:47,400 --> 00:22:50,879
Gold was easier to carry and trade
with than, say, cattle or timber.
280
00:22:50,880 --> 00:22:55,439
And exchanging coins for goods
helped expand global trade routes.
281
00:22:55,440 --> 00:22:57,919
Fast forward to the late 1800s,
282
00:22:57,920 --> 00:23:00,639
when gold started to be
swapped for cash.
283
00:23:00,640 --> 00:23:02,719
This was known as the gold standard,
284
00:23:02,720 --> 00:23:04,719
when a fixed amount
of local currency
285
00:23:04,720 --> 00:23:07,399
was equivalent to an ounce of gold.
286
00:23:07,400 --> 00:23:11,119
One of the quirks of the gold
standard is that in many countries,
287
00:23:11,120 --> 00:23:13,039
it was illegal to own gold.
288
00:23:13,040 --> 00:23:15,119
So in 1933,
289
00:23:15,120 --> 00:23:17,479
President Roosevelt called in
all the gold
290
00:23:17,480 --> 00:23:20,479
that was owned by private citizens
in the United States.
291
00:23:20,480 --> 00:23:24,359
The United States must take firmly
in its own hands
292
00:23:24,360 --> 00:23:28,399
the control of the gold value
of our dollar.
293
00:23:28,400 --> 00:23:32,519
Then, in 1944,
the global benchmark shifted.
294
00:23:32,520 --> 00:23:34,719
World leaders met
and decided their currencies
295
00:23:34,720 --> 00:23:36,119
would be pegged to the dollar,
296
00:23:36,120 --> 00:23:39,520
and it would be backed
by gold at $35 an ounce.
297
00:23:40,520 --> 00:23:43,559
The US dollar struggled to sustain
that fixed price,
298
00:23:43,560 --> 00:23:47,879
especially because of the economic
turmoil of the Vietnam War.
299
00:23:47,880 --> 00:23:52,479
In 1971, President Richard Nixon
made this announcement.
300
00:23:52,480 --> 00:23:55,319
I have directed Secretary Connally
to suspend temporarily
301
00:23:55,320 --> 00:23:58,239
the convertibility of
the dollar into gold.
302
00:23:58,240 --> 00:24:02,599
But the move was permanent
and ended the gold standard.
303
00:24:02,600 --> 00:24:06,639
It was only in 1974 that US citizens
were able to buy gold again.
304
00:24:06,640 --> 00:24:08,719
Other countries were able to own it,
305
00:24:08,720 --> 00:24:11,759
but it certainly was nowhere near
as accessible
306
00:24:11,760 --> 00:24:14,479
as it has become over
the last couple of decades.
307
00:24:14,480 --> 00:24:18,839
Finally available to buy on
the market, prices started to rise.
308
00:24:18,840 --> 00:24:20,880
And something interesting happened.
309
00:24:22,120 --> 00:24:24,799
You'll notice a number of spikes -
310
00:24:24,800 --> 00:24:28,119
this one after
the Iranian revolution,
311
00:24:28,120 --> 00:24:32,119
then this steep curve following
the 2008 financial crash,
312
00:24:32,120 --> 00:24:35,080
peaking after the Eurozone crisis
in 2010.
313
00:24:36,200 --> 00:24:40,399
This blip in 2020,
that's the Covid pandemic.
314
00:24:40,400 --> 00:24:43,159
Each spike can be traced back to
a particular economic
315
00:24:43,160 --> 00:24:45,039
or political shock.
316
00:24:45,040 --> 00:24:47,679
And the biggest peak of all - 2026.
317
00:24:47,680 --> 00:24:49,999
More on that later.
318
00:24:50,000 --> 00:24:52,199
People buy gold in times of crisis
319
00:24:52,200 --> 00:24:55,239
because it's what's known
as a safe haven asset.
320
00:24:55,240 --> 00:24:57,279
There are a few reasons for this.
321
00:24:57,280 --> 00:25:00,239
People think of gold as a safe haven
because it's not connected
322
00:25:00,240 --> 00:25:01,959
to one particular government
323
00:25:01,960 --> 00:25:05,839
or one particular economy
or one particular market.
324
00:25:05,840 --> 00:25:07,599
And, as we mentioned earlier,
325
00:25:07,600 --> 00:25:09,839
there's a more or less
fixed amount of gold.
326
00:25:09,840 --> 00:25:12,799
Unlike paper money,
you can't just print more.
327
00:25:12,800 --> 00:25:16,519
It can't be created and fabricated
out of thin air, through alchemy.
328
00:25:16,520 --> 00:25:18,919
And so this sort of controls
the supply
329
00:25:18,920 --> 00:25:23,079
and sustains an underlying value
behind the demand for gold.
330
00:25:23,080 --> 00:25:25,639
And the biggest buyers
are countries.
331
00:25:25,640 --> 00:25:29,839
This is how much is held
by the top ten central banks.
332
00:25:29,840 --> 00:25:32,599
The United States has
the most gold -
333
00:25:32,600 --> 00:25:37,079
nearly as much as Germany,
Italy and France combined.
334
00:25:37,080 --> 00:25:40,679
But many countries
are increasing their stockpiles.
335
00:25:40,680 --> 00:25:43,239
Poland and China
added around 300 tonnes,
336
00:25:43,240 --> 00:25:46,520
while India and Turkey
also purchased significant amounts.
337
00:25:47,800 --> 00:25:49,279
If there's an economic shock,
338
00:25:49,280 --> 00:25:52,039
it's a central bank's job
to soften the blow.
339
00:25:52,040 --> 00:25:55,119
And gold can be
an extremely useful tool.
340
00:25:55,120 --> 00:25:57,239
Gold's not just a pile
of shiny bricks
341
00:25:57,240 --> 00:25:59,239
that looks good in your bank vault.
342
00:25:59,240 --> 00:26:02,519
It's a genuine financial asset
that you can use in times of crisis.
343
00:26:02,520 --> 00:26:04,799
And that's exactly what's happening
at the moment.
344
00:26:04,800 --> 00:26:07,479
Again, this is a pattern we see
in the data -
345
00:26:07,480 --> 00:26:09,839
a big rise followed by a steep fall
346
00:26:09,840 --> 00:26:12,999
as investors sell gold quickly
to get cash.
347
00:26:13,000 --> 00:26:16,839
In 2022, another shock after Russia
invaded Ukraine.
348
00:26:16,840 --> 00:26:20,519
That year, central banks
doubled their gold purchases.
349
00:26:20,520 --> 00:26:23,799
But it wasn't just about
having gold for a rainy day.
350
00:26:23,800 --> 00:26:25,719
When Russian assets were frozen,
351
00:26:25,720 --> 00:26:28,999
it was a reminder that assets
held abroad
352
00:26:29,000 --> 00:26:33,440
could be at risk during a period
of heightened geopolitical tensions.
353
00:26:35,800 --> 00:26:37,599
Some central banks have
been moving their gold
354
00:26:37,600 --> 00:26:39,559
from hubs in London and New York.
355
00:26:39,560 --> 00:26:43,479
They're bringing it closer to home
to make it easier to access.
356
00:26:43,480 --> 00:26:47,999
That central bank buying started
to push the gold price up.
357
00:26:48,000 --> 00:26:51,719
In 2024, it went up by 26%.
358
00:26:51,720 --> 00:26:54,839
In 2025, 65%,
359
00:26:54,840 --> 00:26:58,319
when the normal average
is about 10% a year.
360
00:26:58,320 --> 00:27:02,359
As well as an increase in demand,
politics also came into play.
361
00:27:02,360 --> 00:27:05,279
We saw a new administration
in the United States
362
00:27:05,280 --> 00:27:08,439
making lots of pronouncements
and executive orders,
363
00:27:08,440 --> 00:27:12,479
which really shocked and surprised
participants in global markets.
364
00:27:12,480 --> 00:27:16,239
When the global economy
is facing difficult times,
365
00:27:16,240 --> 00:27:19,799
or whether it's unprecedented
political pressures,
366
00:27:19,800 --> 00:27:21,639
then gold can perform a lot better.
367
00:27:21,640 --> 00:27:22,999
The more the price went up,
368
00:27:23,000 --> 00:27:25,079
the more it became
attractive to buy,
369
00:27:25,080 --> 00:27:29,119
with many wanting to get into gold
before it hit a new high point.
370
00:27:29,120 --> 00:27:31,479
In January, a new record -
371
00:27:31,480 --> 00:27:34,679
over $5,500 an ounce.
372
00:27:34,680 --> 00:27:37,679
But what goes up must come down.
373
00:27:37,680 --> 00:27:40,799
And that's been true
for gold prices, too.
374
00:27:40,800 --> 00:27:42,919
There are a few reasons for this.
375
00:27:42,920 --> 00:27:46,119
Investors have been ditching gold
as the price drops.
376
00:27:46,120 --> 00:27:48,239
Central banks
are selling some gold stocks
377
00:27:48,240 --> 00:27:49,999
to shore up their finances,
378
00:27:50,000 --> 00:27:52,920
especially because of
the US-Israeli war with Iran.
379
00:27:54,200 --> 00:27:56,639
The war put pressure
on the global economy,
380
00:27:56,640 --> 00:28:00,200
and central banks may need to step
in and increase interest rates.
381
00:28:01,360 --> 00:28:03,159
And if the interest rate goes up,
382
00:28:03,160 --> 00:28:04,959
investors tend
to buy more dollars,
383
00:28:04,960 --> 00:28:08,439
because, unlike gold,
you can make interest on dollars.
384
00:28:08,440 --> 00:28:10,119
While the dollar might have become
385
00:28:10,120 --> 00:28:12,599
a little bit more favourable
in the near term,
386
00:28:12,600 --> 00:28:15,399
it doesn't mean
that gold has become unfavourable.
387
00:28:15,400 --> 00:28:18,520
It just means that the focus
in the short term has shifted.
388
00:28:19,520 --> 00:28:21,439
And if history tells us anything,
389
00:28:21,440 --> 00:28:26,000
it's that when things get bumpy,
again and again, we go back to gold.
390
00:28:28,040 --> 00:28:30,039
Well, thanks for joining me
in Ghana.
391
00:28:30,040 --> 00:28:32,320
We'll be back next week. Goodbye.
33288
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