Measures Ghana will fight illicit financial outflows – Veep

Government has empowered the Intelligence Centre to be able to deal decisively with illicit financial flows out of the country.

  • Published:
play Vice President Amissah-Arthur and Ex-President of South Africa, Thabo Mbeki
24/7 Live - Subscribe to the Pulse Newsletter!

Vice President Kwesi Amissah-Arthur has given the assurance that Ghana would collaborate with the African Union (AU) to combat Illicit financial flows out of the continent.

He said currently, government has empowered the Intelligence Centre to be able to deal decisively with illicit financial flows out of the country.

Vice President Amissah-Arthur gave the assurance when Mr Thabo Mbeki, former South African President led a 10-member delegation from the High Level Panel on Illicit Financial Flows out of Africa on a visit to Ghana.

The High Level Panel which has already submitted its report to the African Union made some key recommendations in the report aimed at combating the illegal movement of funds out of the continent.

The panel is currently in the West African Sub-region soliciting the views of member states on the recommendations of its report.

Besides, the team is also expected to hold sessions with the governments of the Northern and Central African regions and report back to the AU.

Vice President Amissah-Arthur stated that Ghana had always frowned on such activities as money laundering and prohibitive transfer pricing, and that the country was fully in support of the course of the Panel.

Mr Thabo Mbeki on his part stated that the Panel was currently in the sub-region to solicit for opinions from member countries on the recommendations of the report

He said the assessments from the member countries would go a long way to help curb the debilitating problem of illicit financial outflows from Africa.

He said illicit outflows drained  a country’s foreign exchange reserves, reduced tax collection, cancelled investment inflows and worsened poverty.

Source: GNA

Download our mobile app today.

Android - Google Play Store

iPhone - Apple App Store

Recommended Articles

Recommended Videos




Top Articles

1 Watch Water leaks from hole in wall at new Kwame Nkrumah Interchangebullet
2 Pulse Live Daily EC extends special voting exercise by a daybullet
3 His Excellency Top 10 John Mahama quotes that will shock youbullet
4 Judgement debt Supreme Court puts on hold Amidu's oral examination...bullet
5 Young Leaders Three Ghanaians recognised by UK Queen for their...bullet
6 Kwabena Boadu One week of demise commemorated [Photos]bullet
7 Presidential Debate Gov't has no jobs for you - Mahama to...bullet
8 2016 Vote for Pulse Person of the Yearbullet
9 Farmers Day Friday is not a public holiday - Interior...bullet
10 Tsatsu Tsikata God delivered justice – Wife of Tsatsubullet

Top Videos

1 Kwame Nkrumah Interchange Water leaks from hole in wall at new Kwame...bullet
2 Woyome Judgement Debt Kweku Baako dances over Amidu's winbullet
3 Night Life Some taxi drivers and their night driving experiencesbullet
4 Elections 2016 Nana Addo holds conference in Kumasi ahead of Dec 7...bullet
5 School feeding programme Food for All Ghana helps feed schoolsbullet
6 Marine Drive Project Time's up, but residents refuse to relocatebullet
7 Video IEA Presidential Townhall 2016bullet
8 Obinim Pastor charged with assault; sent to CID Headquartersbullet
9 Video Taxi driver terrified after an encounter with a ghostbullet
10 Meet Aisha the female mate who aspires to be a driverbullet

News