Ghana Country Summary

FATF Status

Ghana is no longer on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last follow-up to the Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Ghana was undertaken in 2022. According to that Evaluation, Ghana was deemed Compliant for 13 and Largely Compliant for 22 of the FATF 40 Recommendations. It remains Highly effective for 0 and Substantially Effective for 1 of the Effectiveness & Technical Compliance ratings.

Crime and corruption remain significant challenges in Ghana, with pervasive issues in both public and private sectors. Despite having a legal framework aimed at combating corruption, enforcement is often inconsistent, leading to widespread bribery, particularly within the judicial system, and lengthy prosecution processes for large corruption cases.

Ghana faces various criminal activities, including human trafficking, arms trafficking, and drug-related crimes, which are exacerbated by corruption and limited political will to address organized crime effectively. While civil society plays an active role in advocating for change, the government's efforts to combat crime are hampered by resource limitations, a large informal economy, and challenges in border control and law enforcement.

Ghana's economy presents a mix of promising investment opportunities and ongoing structural challenges, particularly in the wake of a new administration focused on attracting foreign direct investment (FDI) to drive industrialization and infrastructure development. While the country has seen a rebound in GDP growth, rising from 2.9% in 2023 to 5.7% in 2024, investor confidence is tempered by macroeconomic volatility, high public debt, and significant structural revenue shortfalls. Key sectors such as agribusiness, ICT, mining, and energy continue to attract foreign interest, yet persistent issues like bureaucratic inefficiencies, local content requirements, and corruption remain barriers to a more favorable investment climate.