The first session of the High Level Convening on Illicit Financial Flows in Ghana was held today at the Golden Tulip Hotel, Accra. The theme was “Combatting Illicit Financial Flows to Foster Sustainable Development Goals - Taking Stock and Strengthening Responses”.
GhanaIt was attended by Ghana is faced with huge development financing gaps, made worse by the fall in commodity prices over the past few years coupled with declining levels of official development assistance across Africa. Pressing challenges for the country include enormous infrastructure problems (electricity shortages, inadequate road infrastructure, etc.), poor service delivery (including healthcare and education) and insufficient financing for agriculture.
The MC : Winston Amoah (3FM) and Facilitator: Prof. Ademola Ariyo (CPPC). Bishop Akolgo, ISODEC gave and introduction all upcoming programmes in the two-day event. Briggs Bomba of TrustAfrica; Eva Kouka of the Ford Foundation; Radhika Lal and Kordzo Sedegah from UNDP; and Ibrahim Bangura of OSIWA gave their opening remarks.
The Chairman for the session, Kwasi Gyimah-Asante, Commissioner Domestic Revenue, Ghana Revenue Authority(GRA), set the tone before the Keynote Address by the Deputy Minister of Finance of Ghana, Hon. Kwaku Kwarteng. A group photo was taken thereafter.
On return, Bernard Anaba of ISODEC made a critical presentation on "Transfer Pricing in Ghana’s Oil & Gas Sectors"; followed by Bishop Akolgo with "Illicit Financial Flows in Services: The Case of Ghana’s Petroleum Sector".
Other presentations were made by Nicholas Ibekwe, Premium Times, Nigeria; and Prof .Simon Pak, Penstate University, USA (by video conference).