The Deputy Minister for Finance, Thomas Nyarko Ampem, chaired the signing of an inter-agency agreement focused on strengthening anti-money laundering (AML) and counter-terrorist financing controls in Ghana’s gold sector. The event took place at the Ministry of Finance and brought together leaders from regulatory, law enforcement, and intelligence agencies.
The agreement aims to create a coordinated national strategy to address financial crime risks, especially within artisanal and small-scale gold mining. This move comes as Ghana is undergoing a mutual evaluation by the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA).
In his opening remarks, Mr. Ampem said, “Today marks a deliberate move from technical discussions to senior-level affirmation, consolidation, and ownership of agreed reforms. Your presence reflects our shared commitment to a robust framework for combating money laundering, terrorist financing, and proliferation financing in the gold sector.”
The pact builds upon the Gold-sector AML/CFT/PF Joint Action Plan developed over more than a year. It commits agencies such as the Bank of Ghana, Financial Intelligence Centre, Ghana Gold Board (GoldBod), Minerals Commission, and Office of the Registrar of Companies (ORC) to ongoing action across three main areas: legal reform; law enforcement and financial intelligence; due diligence and beneficial ownership.
Mr. Ampem highlighted that these measures are meant to continue beyond current international assessments: “We are jointly affirming that these reforms are nationally owned, institutionally embedded, and designed to endure beyond the Mutual Evaluation,” he told officials and development partners present.
Some key achievements already implemented include setting up an AML/CFT/PF Desk at GoldBod; launching ORC’s sanctions regime for beneficial ownership—which has led to penalties for non-compliant companies—and starting real-time data sharing between ORC and GoldBod through API integration.
“This Communiqué provides clear evidence of inter-ministerial coordination and senior-level commitment, which are central to international assessments of effectiveness,” said Ampem. “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.”
Ampem also stated that the Ministry of Finance will maintain its leadership role with structured oversight provided by its Mining and Industry Unit within the Real Sector Division.
He acknowledged support from the UK-Ghana Gold Programme in facilitating cooperation among agencies. Mr. Ampem added that “it sends a strong and credible signal of Ghana’s resolve” to protect its gold sector’s integrity.