Gov’t and Regulators Join Forces to Stop Illicit Gold Trade
Government and key regulatory agencies have joined forces to tackle illicit financial flows in Ghana’s gold sector through a landmark anti-money laundering agreement.
The initiative is designed to protect one of the country’s most vital economic sectors from criminal abuse while enhancing Ghana’s international credibility.
Thomas Nyarko Ampem, Deputy Minister for Finance who presided over the signing ceremony at the Ministry of Finance, described the agreement as a turning point in the nation’s efforts to combat financial crime.
“Today marks a new chapter in how Ghana governs its gold. We are moving from fragmented efforts to a unified, systemic defence against money laundering and illicit finance. This is not merely a document, it is a binding commitment to transparency, accountability and national integrity,” he stated.
The Inter-Ministerial and Agency Communiqué on Gold-Sector AML/CFT/PF Reform brings together the Bank of Ghana, Financial Intelligence Centre, Ghana Gold Board, Minerals Commission and law enforcement agencies under a single strategic framework.
The agreement will focus particularly on artisanal and small-scale gold mining, which has long been identified as a high-risk area for money laundering and terrorist financing.
Mr. Ampem emphasised that the pact represents a major operational shift, ensuring intelligence, oversight, and enforcement are coordinated. Every participant in the gold value chain will now be accountable, and all transactions traceable.
Key measures include the creation of a dedicated anti-money laundering desk within the Ghana Gold Board, enhanced real-time data sharing between the Office of the Registrar of Companies and law enforcement, and the establishment of joint monitoring teams to oversee licensed gold dealers and exporters.
The Deputy Minister highlighted the agreement’s timely implementation, coinciding with Ghana’s ongoing evaluation by the Inter-Governmental Action Group against Money Laundering in West Africa.
He said the initiative demonstrates the country’s proactive commitment to meeting and exceeding international standards and reassures investors and trading partners of Ghana’s financial integrity.
With the agreement now in effect, the Ministry of Finance will coordinate implementation through its Mining and Industry Unit, ensuring continuous inter-agency collaboration. Progress will be tracked rigorously, with periodic reviews and public reporting.
Mr. Ampem noted that the signing marks the start of a durable system of oversight, stating that Ghana’s gold must remain a source of national wealth and pride, not a conduit for crime.
