Thomas Nyarko Ampem, Deputy Minister of Finance, presided over the signing of a significant inter-agency agreement to tighten anti-money laundering and counter-terrorist financing measures in Ghana’s gold sector.
The high-level ceremony at the Ministry of Finance brought together the heads of major regulatory, law enforcement, and intelligence agencies.
The agreement establishes a coordinated national plan to combat financial crime threats, notably in artisanal and small-scale gold mining (ASGM), as Ghana faces a critical mutual evaluation by the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA).
In his opening remarks, Mr. Ampem described the event as a necessary shift from planning to accountability.
“Today marks a deliberate move from technical discussions to senior-level affirmation, consolidation, and ownership of agreed reforms,” he stated.
“Your presence reflects our shared commitment to a robust framework for combating money laundering, terrorist financing, and proliferation financing in the gold sector.”
The signed agreement captures more than a year of technical work and expands upon the Gold-sector AML/CFT/PF Joint Action Plan.
The Bank of Ghana, the Financial Intelligence Center, the Ghana Gold Board (GoldBod), the Minerals Commission, and the Office of the Registrar of Companies (ORC) are among the signatory organisations that pledge to take consistent action in three areas: due diligence and beneficial ownership, law enforcement and financial intelligence, and legal and regulatory reform.
The agreement is intended to last beyond the present GIABA assessment, Mr. Ampem stressed.
He addressed the group of development partners and senior officials, saying, “We are jointly affirming that these reforms are nationally owned, institutionally embedded, and designed to endure beyond the Mutual Evaluation.”
GoldBod’s dedicated AML/CFT/PF Desk, the operationalisation of ORC’s beneficial ownership sanctions regime, which has already penalised non-compliant gold companies, and the start of API integration for real-time data sharing between ORC and GoldBod are notable accomplishments that support the agreement.
Ampem stated, “This Communiqué provides clear evidence of inter-ministerial coordination and senior-level commitment, which are central to international assessments of effectiveness.”
“More importantly, it establishes a framework for managing gold sector financial crime risks in a way that enhances revenue mobilisation, investor confidence, and sound economic governance.”
The Mining and Industry Unit of the Real Sector Division is tasked with providing “structured oversight” and guaranteeing the continuation of the reforms, and the Deputy Minister reiterated the Ministry of Finance’s continued leading role.
Technical assistance from the UK-Ghana Gold Programme was recognised for its contribution to interagency cooperation.
Mr. Ampem emphasised that the deal “sends a strong and credible signal of Ghana’s resolve” to protect the integrity of its gold industry.
Source: newsthemegh.com