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Ghana loses 6 billion dollars yearly in mining sector —Dr Abdallah Ali-Nakyea


Ghana loses 6 billion dollars yearly in mining sector Dr Abdallah Ali-Nakyea
April 30, 2021

Dr Abdallah Ali-Nakyea
Curbing illicit financial flows will be one of the surest ways for the government to raise money to fund the budget and other development projects, Dr Abdallah Ali-Nakyea, Senior Lecturer of University of Ghana Law School, has said.
He alleged that in the mining sector alone, the government lost $6 billion every year to illicit financial flows through transfer pricing and under invoicing.
Speaking at the Multi-Stakeholder Business Integrity Forum organised by the Ghana Integrity Initiative (GII), the local chapter of Transparency International, Dr Ali-Nakyea, said there would be no need for government to borrow to meet the financial needs of the country if illicit financial flows from the country was nipped in the bud. ....

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