Accra, May 15, 2018

The Multi-Stakeholder Group (MSG) of the Ghana Extractive Industries Transparency Initiative (GHEITI) has produced and will formally launch the country's 2015 mining, oil and gas EITI audit reports, published on April 30th, 2018.  The MSG is a tripartite body made up of Government, Industry and Civil Society that has the responsibility of steering the affairs of GHEITI.  The mining report brings to twelve (12th), the total number published since Ghana acceded to the initiative in 2003. For oil and gas, the 2015 report is the fifth (5th) since the initiative was extended to cover the sector. The production of the 2016 reports for the mining and oil/gas sectors have also been initiated and expected to be completed in July, 2018.

Press Release – 30th October, 2017

Ghana Wins Award for Company Ownership Transparency

Accra, October 30, 2017.

Ghana has won international recognition for its commitment to expanding the frontiers of transparency, including progress made towards lifting the veil off the actual beneficial owners of companies operating in the country.

The recognition came in the form of an award from the Extractive Industries Transparency Initiative (EITI) International Board Chair, at the just ended international conference on Beneficial Ownership (BO) Disclosure held in Jakarta, Indonesia from the 23rd to the 24th October, 2017.

Historically elections in Ghana have not focused on the real issues affecting the country’s socio-economic fortunes, but rather on trivialities such as ethnicity and the health status of contestants. But this is likely to change as ‘bread and butter issues’ and corruption assumed centre stage of the country’s 2016 general elections. Indeed the outcome of these elections was determined by which party had a better message and a more convincing strategy for fighting corruption.

The utilisation of mineral revenues received by the Ellembelle District Assembly of the Western Region has raised concerns among traditional leaders and citizens of the area. In particular, indications by the District Assembly that it had utilised the funds on road projects and the assembly’s office complex did not go down well with some participants.

Accra, March 30, 2017 – The Deputy Minister designate for the Ministry of Finance, Hon. Abena Osei Asare (MP) has reiterated government’s commitment to fight corruption.  She noted that opaque company structures are being used to launder significant sums of money, which could be used to improve the lives of people which such ill-gotten gains were meant to serve.

Ghana has for the past five years intensified its efforts at developing safeguards against illicit financial flows, money laundering, corruption, financing of terrorism and organised crime, under the direction and support of the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), a specialised institution of the Economic Community of West African States, responsible for facilitating the adoption and implementation of Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) measures in West Africa.

Ghanaians are becoming increasingly concerned about what they describe as wasteful spending of petroleum revenues, Public Agenda has uncovered. In a brief statement at a Western Regional dissemination workshop on the 2014 Ghana Extractive Industries Transparency Initiative (EITI) reconciliation report, the Omanhene of Essikado traditional area, Nana Kobina Nketsia V, observed that it is the expectation of many natural resource host communities to feel the socio-economic benefits of resource extraction, however the consolidation approach to national economic accounting makes it difficult for host communities to be able to appreciate the direct contribution of the resources being exploited in their geographical jurisdictions to their local economic development.

It is my profound pleasure to participate in the launch of the 2014 Ghana Extractive Industries Transparency Initiative (GHEITI) Reconciliation Reports for Mining and Oil/Gas. This report comes on the heels of milestone  achievement  in  the  enactment  of  policies  designed  to maximize the benefits of natural resource to the state and citizenry. No doubt Ghana has been recognized as the star performer in initiating reforms based on the reconciliation reports at  the 2016 EITI global conference which was held in Lima, Peru.

Mr. Chairman, Colleague Ministers,

CEO, Ghana Chamber of Mines,
Members of the National Steering Committee,
Distinguished Ladies and Gentlemen,

It is a pleasure for me to be part of the launch of the 2014 Ghana’s EITI Report for the Mininig and the Oil and Gas Sector. Mr. Chairman, in line with government’s policy to ensure transparency in the management of
petroleum resources, the Ministry roped into the Ghana’s Extractive Transparency Initiative (GHEITI) process which was operational in the mining sector right from the onset of the discovery of oil and gas in Ghana.