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

Recommended Articles

Recommended Videos





Top Articles

1 Video Soldier detained for leaking Flagstaff House brutality videobullet
2 SONA President Akufo-Addo presents maiden State of the Nation Addressbullet
3 Ghana Police IGP in another radical police shake-upbullet
4 Kumasi Technical Institute Over 20 injured after students clash...bullet
5 State of the Nation Address Policeman heckles GTV cameraman...bullet
6 Pay Day NDC Ministers troop to Flagstaff House for ex-gratiabullet
7 Assault Police must crack this case- Otiko Djababullet
8 State of the Nation Address Nana Addo condemns unlawful...bullet
9 Judiciary William Atuguba is acting Chief Justicebullet
10 Gory Accident NPP parliamentary candidate involved in...bullet

Top Videos

1 Video Police officer attacked at Flagstaff Housebullet
2 Meet "The Beast" President Obama's Cadillac that's more tank than carbullet
3 Obinim What happen'd when we fact checked Obinim's Bible knowledgebullet
4 Video Taxi driver terrified after an encounter with a ghostbullet
5 Refugee Ghanaian to lose fingers after 7-hour trek to cross US...bullet
6 Watch Kumchacha delivers Counselor Lutterodt from 'demons'bullet
7 Kwame Nkrumah Interchange Water leaks from hole in wall at...bullet
8 Vitiligo Enam Honya - is challenging what you think about...bullet
9 Trade Fair Fire Police give an update on La Gas explosionbullet
10 Bishop Obinim Saga Teenagers disciplined by Obinim...bullet

News