By Benjamin Nii Nai Anyetei
The Deputy Minister for Finance, Thomas Nyarko Ampem, has chaired the signing of a landmark inter-agency agreement aimed at strengthening anti-money laundering (AML) and counter-terrorist financing (CFT) controls within Ghana’s gold sector.
The high-level ceremony, held at the Ministry of Finance, brought together heads of key regulatory, law enforcement, and intelligence institutions. The agreement formalises a coordinated national strategy to address financial crime risks—particularly within artisanal and small-scale gold mining (ASGM)—as Ghana undergoes a crucial mutual evaluation by the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA).
In his opening remarks, Mr. Ampem described the signing as a decisive shift from planning to accountability.
“Today marks a deliberate move from technical discussions to senior-level affirmation, consolidation, and ownership of agreed reforms,” he said. “Your presence reflects our shared commitment to a robust framework for combating money laundering, terrorist financing, and proliferation financing in the gold sector.”
The agreement builds on the Gold-Sector AML/CFT/PF Joint Action Plan, which captures more than a year of technical engagement. It commits all signatory institutions—including the Bank of Ghana, Financial Intelligence Centre, Ghana Gold Board (GoldBod), Minerals Commission, and the Office of the Registrar of Companies (ORC) to sustained action across three key pillars: legal and regulatory reform; law enforcement and financial intelligence; and due diligence and beneficial ownership transparency.
Mr. Ampem stressed that the pact is intended to endure beyond the current GIABA assessment.
“We are jointly affirming that these reforms are nationally owned, institutionally embedded, and designed to endure beyond the Mutual Evaluation,” he said.
He highlighted several milestones underpinning the agreement, including the establishment of a dedicated AML/CFT/PF Desk at GoldBod, the operationalisation of ORC’s beneficial ownership sanctions regime—which has already penalised non-compliant gold companies—and the initiation of API integration to enable real-time data sharing between ORC and GoldBod.
“This Communiqué provides clear evidence of inter-ministerial coordination and senior-level commitment, which are central to international assessments of effectiveness,” Mr. Ampem noted. “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 Deputy Minister reaffirmed the Ministry of Finance’s leadership role, noting that the Mining and Industry Unit of the Real Sector Division will provide structured oversight to ensure continuity and effective implementation of the reforms.
He also acknowledged the UK-Ghana Gold Programme for its technical support and role in fostering inter-agency collaboration, expressing confidence that the agreement sends “a strong and credible signal of Ghana’s resolve” to safeguard the integrity of its gold sector.
