Ghana Long Form 2020
Total Page:16
File Type:pdf, Size:1020Kb
Ghana - Threat Assessment - 2020 Page 1 of 34 and a “CC” response. US Trafficking in Persons Ghana � - Tier 2 rating. Section 1 - Executive Summary Sanctions & Terrorism: There are no sanctions against the country. Ghana is a Tier 2 Grey Lists: Ghana is listed by FATF & has been (Moderate threat), PPI 2019 (Proliferation) added to the EU list (which came into force on Index country with a “Moderate” response 1/10/20) based on identified strategic AML/ score of 518/1,300. Ghana has a “Very Low” CTF issues. Ghana is listed by the US as a impact score (1.559/10) in the Global “Country of Primary Concern” in respect of ML Terrorism Index 2019. Ghana isn’t included in & FC. US Country Reports on Terrorism. NRA: Ghana published its first National Risk Response & Resilience: FATF MER 4th round Assessment (NRA) in 2016. The assessment results by GIABA scored Ghana at 73/100 for rated stealing, drug trafficking, corruption, and technical compliance (40 Recommendations), tax evasion as “High”, with fraud at “Medium & 18/100 for effectiveness (11 Outcomes). High” and human trafficking and people Ghana scored 5.46/10 for resilience (Low), smuggling at “Medium” with environmental ranked 10/54 in Africa in the OC Index. crime & cybercrime highlighted too. The overall threat was rated as “Medium High.” Indices: Ghana scored 82/100 and was rated “free” in the 2019 Freedom in the World Organised Crime: According to the OC Index, report, and 59.4/100 for economic freedom Low Criminality - High Resilience. Criminality (Heritage Foundation) described as “mostly 4.89/10, (ranked 26th of 54 African countries). unfree”. The Mo Ibrahim Index of African Main markets are illegal mining (7.5/10), Governance (IIAG) scored Ghana 6th in Africa cannabis (7/10), heroin (6/10), cocaine (5.5/10) at 68.1/100. The Basel AML Index 2019 ranked and synthetics (5.5/10). The main “Criminal Ghana with a score of 5.24/10. Actors” are “State Embedded Actors” (6.5/10), “Criminal Networks’ (6/10), “Foreign Overall Ratings: Ghana is rated the 10th best Actors”(5/10) and “Mafia Style Groups”(1/10). rated country in SSA (out of 40) and 2/14 in West Africa, with an overall score of 55/100 Corruption: TI CPI - 2019 - ranked 80/198, “Moderate” risk, 59/100 “Moderate” level for with a score of 41/100, a deterioration from Threats and 50/100 “Moderate-High” level for 2016, where Ghana had a score of 43/100. Responses, with an “Improving” trend. Modern Slavery: The 2018 GSI Index - 38/51 FCN Rating:”Moderate” Risk 55/100 African countries, with 133,000 modern day “Improving” slaves, and an incidence of 4.8/1000 people Ghana - Threat Assessment - 2020 Page 2 of 34 Section 2 - Country Dashboard Ghana ↗ Improving Capital & Population: Accra / 29.8 million approx Political Leader: Nana Akufo-Addo, (since 2017) GDP: USD47.02 billion (2.9% of the SSA economy) Economic Sector Breakdown: Agri (18.3%), Ind (24.5%), Services (57.2%). Exports: Oil, gold, cocoa, timber, tuna, aluminium and diamonds to India (23.8%), UAE (13.4%), China (10.8%), Switzerland (10.1%), Vietnam (5.2%) & Burkina Faso (4%) - 2017. Imports: Capital equipment, refined petroleum and foodstuffs from China (16.8%), US (8%), UK (6.2%), Belgium (5.9%) & India (4.1%) - 2017. Score: 55/100 “Moderate” FCN Risk Rating (Average Country Score is 43 - SSA) Proceeds / Laundering Rank: 10/40 SSA - 2/14 Region WA range 6.5% - 9.5% GDP / 60-70% of Proceeds Organised Crime Costs of Corruption range up to approx 26 - 28% of Proceeds range up to approx 5 - 10% of Proceeds (State Embedded 6.5/10, Criminal Actors 6/10, Foreign Networks 5/10 & Mafia Style 1/10) Ghana Higher (Inherent) Risk Factors Total Criminal Proceeds in Sub Saharan Africa in US$ Billions - FCN Customer Sector Geography 2020 (not including fraud and Risks Risks Risks corruption and tax evasion) Customers with elevated Banking, Other FI’s & DNFPBs - Major export / import partner exposures to criminal activities Medium Risk countries (trade mispricing via such as: IFFs). drug trafficking, theft & Casinos, Real Estate Developers Near neighbour countries, corruption - High Risk / Agents, None Profit including Burkina Faso & Togo Mining Fishing Organisations - Very High Risk & Ivory Coast (OC, Smuggling). 10 2.5 to Fraud - Medium Risk Afghanistan Pakistan, SE Asia Wildlife Dealers in Precious Metals & and Western Europe, as source 2 Goods Piracy to Human Trafficking, Migrant Stones, Car Dealers - High Risk and destination countries & 9 Smuggling & Robbery - Low South America (cocaine). Risk Lawyers, Notaries & Accountants, Trust & Company China, Bangladesh, Thailand & Logging to Higher Risk Sectors and/or Service Providers - Medium Risk West African (inbound HT) & 12.5 Middke East, Europe including Geography Risks Modern Slavery Italy & Germany (Source & Transit outbound HT) 8.3 In Ghana - Greater Accra Drugs Region, Ashanti Region and the 3 Western Region for ML / the Theft three Regions in the north and 15 Greater Accra Region for terrorist activities and financing. FCN SSA Country Risk Rating - “Moderate” Threats - " GTI GSI INCSR TI CPI US TIP Overall WEF OC US Terror GFI IFF’s IUUF Index OC Index US END Wildlife FCN SSA Country Risk Rating - “Mod - High” Response - " NRA Freedom OC Index FATF 40 FATF 11 Overall Governance GSI - Slavery Proliferation Seizures US$ FATF/EU Lists Basel AML Index Ghana - Threat Assessment - 2020 Page 3 of 34 Section 3 - Country Information People & Geography: Ghana is located in economy is made up of agriculture 18.3%, West Africa, in the centre of the Gulf of Guinea industry 24.5%, services 57.2%. These sectors and borders with the Ivory Coast, Burkina Faso encompass the mining, lumbering, light and Togo. Ghana is geographically closer to manufacturing, aluminium smelting, food the ‘centre’ of the earth than any other country processing (cocoa, rice, peanuts, corn, (closets to 0 degree longitude & 0 degree bananas) as well as financial services, latitude) and as such experiences a tropical information and communications technology, climate. Ghana is a beautiful country, endowed education, hospitality and property with natural resources. It encompasses plains, development. Ghana exports oil, gold, cocoa, coastal shrub lands, beaches, forests, waterfalls timber, tuna, aluminium and diamonds to India and lakes (it’s most famous being Lake Volta - (23.8%), UAE (13.4%), China (10.8%), the largest artificial lake in the world). Ghana’s Switzerland (10.1%), Vietnam (5.2%) & Burkina capital, Accra, is the most densely populated Faso (4%) - 2017. The country imports capital city in Ghana, and serves as the administrative, equipment, refined petroleum and foodstuffs economic, legislative and judicial centre for the from China (16.8%), US (8%), UK (6.2%), country. Of it's 29.8 million population, Ghana Belgium (5.9%) & India (4.1%) - 2017. counts some 466,800 migrants for 2019, and 970,600 emigrants. Environment: According to the Environmental Performance Index, Ghana is ranked 124/180 Recent History & Leadership: Formerly countries, with a score of 49.66/100. known as the Gold Coast Ghana was the first country in Sub-Saharan Africa to break away Tourism: Travel & tourism contributed from colonial rule, gaining independence from GHC17,497.3 million (US$3,305.1 million) in the UK in 1957 with Kwame Nkrumah as it’s 2019, which represents 5% of the GDP of first president. The period from 1960 onwards Ghana. The labour force for this sector is more was marked by various military coups, than 623,100 people in direct employment, economic stagnation and unstable which represents 5.2% of the total governments. From 2000, the government employment rate in country. Some of the main took positive steps to aid economic prosperity tourist sites include Elmina Castle, Kakum - such as the merging of two gold mining firms National Park and Lake Volta. in 2003, and investing in the oil industry in 2007. In 2011, John Atta Mills became Finance: In terms of remittances, the country president, representing the National has estimated inflows of US$3.521 billion Democratic Congress party and was (5.2% of the GDP) for the year 2019 and succeeded by John Mahama in 2012. Mahama according to the World Bank. Connectivity- was eventually replaced in 2017 by Nana wise, there is an internet penetration rate of Akufo-Addo, who is the current president. 48% and 39.97 million mobile connections for the year 2020. With regard to access to the Economy & Trade: In 2017, the GDP was banking system, 42% of the population (over USD47.02 billion, which represents 2.9% of the 15 years of age) hold bank accounts, 5.8% SSA economy. The government revenues have a credit card, and 39% have a mobile amount to USD 9.544 billion. The GDP per money account (2020). capita in 2017 was USD4,700. Ghana’s Ghana - Threat Assessment - 2020 Page 4 of 34 Ghana - Threat Assessment - 2020 Page 5 of 34 4 - Country Ratings Available information from leading sources produce over 60 ratings for Ghana, covering both threats and responses in fighting financial crime, sanctions, proliferation finance and terrorism & terrorism finance. Source Ghana � Source Ghana � Source Ghana � World Economic Forum 59.7 / 100 Transparency International (TI) 41/ 100 Proliferation Index - PPI Tier 2 Organised Crime Index (84/140) Corruption Perceptions Index (80/198) Threat Moderate Threat Level OC Index 4.89/10 TI & Afrobarometer 33% Proliferation Index - PPI 518/1300 Criminaility Citizens Views and Experiences of Corruption Overall Bribery Rate Controls Controls score Report OC Index 4.63/10 TRACE 48 Global Terrorism Index 1.559/10 Criminal Actors