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Thursday, January 27, 2022

Ghana is a no-go area for AML/CFT – Ayorkor Botchwey

Shirley Ayorkor Botchwey, Minister of Foreign Affairs and Regional IntegrationShirley Ayorkor Botchwey, Minister of Foreign Affairs and Regional Integration

The Minister for Foreign Affairs and Regional Integration, Shirley Ayorkor Botchwey, has told the incoming Ambassador-Designate of the European Union (EU) to Ghana, Irchad Razaaly, that the nation is committed to promoting Money Laundering and Combatting the Financing of Terrorism (AML/CFT).

She said the nation worked hard to be delisted from the Financial Action Task Force’s (FATF’s) grey list, adding that more work will be put in to ensure that Ghana is a preserve of AML/CFT.

She added that measures are being reinforced to ensure that every financial transaction is in line with international requirements.

She made this known at an event to receive Open Letters of the Ambassador-Designate of the European Union (EU) to Ghana, Irchad Razaaly, at a Minister’s Conference in Accra.

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The minister congratulated Mr. Razaaly on his appointment as Ambassador of the EU to Ghana. She said GHANA-EU has long-standing cooperation that dates back to 1975 with the signing of the first financial protocol, the Lome 1 Convention, between the EU and the African, Caribbean and Pacific (ACP) member-states.

She added that the EU is Ghana’s largest multinational development trade partner and Ghana remains a favorite destination for investment in Africa.

She highlighted the political stability, open democratic values, free media and vibrant civil society which Ghana enjoys; and as an important Foreign Direct Investment (FDI) destination on the African continent, in 2017 ranked 7th out 54 countries.

The coming into force of the African Continental Free Trade Area (AfCFTA) with its Secretariat in Accra, Ghana – and Africa with its huge market potential, present an opportunity for increased trade; and Ghana is well-positioned to receive investors from the EU who wish to take advantage of opportunities provided by the Free Trade Area, Madam Ayorkor added.

The minister concluded by saying her doors are open for continuous cooperation with the Ambassador-designate and wished him a successful tour of duty.

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