Ghana Extractive Industry Transparency Initiative

Ghana takes giant stride towards beneficial ownership disclosure

Ghana has for the past five years intensified its efforts at developing safeguards against illicit financial flows, money laundering, corruption, financing of terrorism and organised crime, under the direction and support of the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), a specialised institution of the Economic Community of West African States, responsible for facilitating the adoption and implementation of Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) measures in West Africa.

Ghanaians unhappy about Wasteful spending of petroleum revenues

Ghanaians are becoming increasingly concerned about what they describe as wasteful spending of petroleum revenues, Public Agenda has uncovered. In a brief statement at a Western Regional dissemination workshop on the 2014 Ghana Extractive Industries Transparency Initiative (EITI) reconciliation report, the Omanhene of Essikado traditional area, Nana Kobina Nketsia V, observed that it is the expectation of many natural resource host communities to feel the socio-economic benefits of resource extraction, however the consolidation approach to national economic accounting makes it difficult for host communities to be able to appreciate the direct contribution of the resources being exploited in their geographical jurisdictions to their local economic development.

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About EITI in Ghana

The Extractive Industries Transparency Initiative (EITI) was launched by the UK Prime Minister at the World Summit on Sustainable Development in Johannesburg, September 2002.

The initiative encourages, government, extractive companies, International agencies and NGO’s to work together to develop a framework to promote transparency of payments in the extractive industries. The EITI therefore seeks to create that missing transparency and accountability in revenue flows from the extractive industry.

REMARKS DELIVERED BY THE CHIEF EXECUTIVE OFFICER, MR. SULEMANU KONEY, AT THE LAUNCH OF THE 2014 GHEITI AUDITED REPORT FOR MINING AND OIL/GAS ON MARCH 31, 2016 AT THE MENSVIC HOTEL

It is my profound pleasure to participate in the launch of the 2014 Ghana Extractive Industries Transparency Initiative (GHEITI) Reconciliation Reports for Mining and Oil/Gas. This report comes on the heels of milestone achievement in the enactment of policies designed to maximize the benefits of natural resource to the state and citizenry. No doubt Ghana has been recognized as the star performer in initiating reforms based on the reconciliation reports at the 2016 EITI global conference which was held in Lima, Peru.

STATEMENT BY THE MINISTER FOR PETROLEUM, HON. EMMANUEL ARMAH KOFI BUAH (MP) AT THE LAUNCH OF THE 2014 EITI REPORT FOR MINING AND THE OIL /GAS SECTORS AT MENSVIC HOTEL, ACCRA

Mr. Chairman, Colleague Ministers,

CEO, Ghana Chamber of Mines,
Members of the National Steering Committee,
Distinguished Ladies and Gentlemen,

It is a pleasure for me to be part of the launch of the 2014 Ghana’s EITI Report for the Mininig and the Oil and Gas Sector. Mr. Chairman, in line with government’s policy to ensure transparency in the management of
petroleum resources, the Ministry roped into the Ghana’s Extractive Transparency Initiative (GHEITI) process which was operational in the mining sector right from the onset of the discovery of oil and gas in Ghana.

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