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

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233547385856, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos





Top Articles

1 Tamale Floods Two confirmed deadbullet
2 Nayele Ametefe Court orders confiscation of drug baron's $1.6m mansionbullet
3 Atta Mills Death Brother denies claims family hasn’t seen autopsy reportbullet
4 National Service NSS registration turns chaotic as soldiers...bullet
5 Hackman Owusu-Agyemang Board chair of COCOBOD gets GHc 800,000...bullet
6 Ashanti Region Rice kills 20-year-old kayayobullet
7 Pulse Review A dose of Charlotte Osei and Nana Addo’s 6...bullet
8 Full Text Here's the transcript of court proceedings on...bullet
9 Mother's Tribute Give me the chance to face my "son's...bullet
10 Francis-Xavier Sosu Suspended lawyer's case thrown outbullet

Top Videos

1 WATCH Kennedy Agyapong dances wildly to hip hop song in hilarious videobullet
2 Prophecy Hundreds will die in floods in 2017 – Prophet revealsbullet
3 Watch Adwoa Safo claims credit for Mahama's projectbullet
4 Capt. Mahama's Death The account of this 10-year-old will leave...bullet
5 Lynched Soldier Listen to the man who hit Capt. Mahama's head...bullet
6 Ghana@60 Agya Koo embarrassed Ghana at Independence Day -...bullet
7 Vitiligo Enam Honya - is challenging what you think about beautybullet
8 Video Metro Mass bus catches fire on Cape Coast-Kasoa highwaybullet
9 Meet "The Beast" President Obama's Cadillac that's more...bullet
10 Bribery Scandal Chaos in Parliament over bribery reportbullet

News