In the month of December 2022, the Media Foundation for West Africa (MFWA) with support of OXFAM Ghana is implementing a number of activities aimed at strengthening critical voices and media capacity to effectively report on Illicit Financial Flows (IFFs) in Ghana.
A two-day training workshop scheduled for December 6 & 7, 2022 will contribute to addressing the knowledge gap on illicit financial flows among selected financial, economic and business journalists. The journalists will be exposed to the legal, and regulatory framework; current trends and key challenges as well as policy responses to reducing IFFs in Ghana and equipped to influence policies, track and monitor illicit financial flows in Ghana while supporting government’s quest in the fight against the menace.
Subsequent to the training, a major public forum will be held on December 15, 2022, to discuss the deepening and hydra-headed phenomenon of IFFs in Ghana. Under the theme “The role of the Media in the Fight Against Illicit Financial Flows in Ghana”, the forum will bring together over 150 participants from relevant state institutions, security agencies, the media, civil society organisations and academia to deliberate on the matter and proffer recommendations on ways to better promote efforts at combating IFFs in the country.
The nature and trends of illicit financial flows are diverse, complex and across borders taking several forms including revenue from illegal activities, tax avoidance, abusive profit-shifting, trade mis-invoicing, corruption, tax fraud, among others. While Ghana has passed a lot of laws seeking to tackle illicit financial flows; the establishment of robust and independent institutions to address the ill-inflows including, bribery and corruption while ensuring greater compliance, scrutiny as well as monitoring and tracking also remains a challenge. There is also limited knowledge and skill among the media on illicit financial flows which affect their ability to scrutinise, track and monitor the impact of government responses to reducing illicit financial flows.
These engagements on IFF form part of activities approved under the Accountable Governance project of the MFWA and Oxfam Ghana. Other key activities under the intervention include funding support for investigative reporting on IFF; Production of documentaries on barriers to political and economic participation of women in governance in selected districts in Ghana as well as regional level engagement with ECOWAS Commission and member states for implementation/enforcement of ECOWAS frameworks on human rights, gender and good governance.