Ghana’s Ministry of Finance has launched a Joint Action Plan, formalised through a Joint Communiqué signed with key regulatory and enforcement bodies, to strengthen compliance with Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) standards in the extractive sector and curb illicit financial flows, particularly in artisanal and small-scale gold mining. The plan sets out responsibilities, timelines and milestones for institutions across the gold value chain and requires regular inter-agency coordination, including monthly follow-up meetings and progress reporting. Stakeholders involved in the communiqué include the Bank of Ghana, the Financial Intelligence Centre, the Ghana Gold Board, the Minerals Commission, the Ministry of Lands and Natural Resources, the Office of the Registrar of Companies, the Economic and Organised Crime Office, the Ghana Police Service’s Criminal Investigation Department and the Ghana Revenue Authority’s Customs Division, with the British High Commission and the UK-Ghana Gold Programme also represented. Implementation is framed as the next step as Ghana prepares for its 2026 Financial Action Task Force (FATF) mutual evaluation, with officials warning that failure to address sector vulnerabilities could increase the risk of blacklisting and lead to higher borrowing rates, reduced investment flows, pressure on the cedi and reputational damage.

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