Deputy Minister for Finance Thomas Nyarko Ampem has disclosed that the government of Ghana is intensifying reforms in the gold sector.
He indicated the country is The country is preparing for a crucial international evaluation of its anti-money laundering efforts.
Mr Nyarko Ampem, speaking on behalf of Finance Minister Cassiel Ato Forson at a high-level stakeholder meeting, announced the initiative.
He warned that Ghana faces potential greylisting by the Financial Action Task Force (FATF) if it fails to meet international standards.
The Deputy Minister stressed the need for gold sector reforms as Ghana prepares for its second Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) mutual evaluation by the Intergovernmental Action Group against Money Laundering in West Africa (GIABA).
He called for a coordinated response from financial institutions, regulators, and law enforcement, urging them to contribute to a joint action plan.
“Our collective responsibility is to ensure that today’s dialogue translates into tangible progress,” he said.
He indicated that “Delivering on this agenda will protect domestic revenue, preserve livelihoods, and strengthen Ghana’s international reputation as a responsible gold hub.”
He commended the Financial Intelligence Centre (FIC) for leading Ghana’s recent National Risk Assessment and acknowledged the support of the UK-Ghana Gold Programme and the Economic and Organised Crime Office (EOCO) in strengthening financial investigation capabilities.
On his part, the UK’s Deputy High Commissioner to Ghana, Mr Keith McMahon, pledged his country’s support to Ghana ahead of the GIABA assessment.
“The United Kingdom stands firmly with Ghana in its efforts to strengthen transparency and governance in the gold sector. This is essential not only for Ghana’s economy but also for global financial integrity,” he indicated.
The Intergovernmental Action Group against Money Laundering in West Africa (GIABA) will conduct the mutual evaluation next year.
By: Rainbowradioonline.com/Ghana