News Guide Africa

Tag: Ato Forson

  • Customs automation unlocks revenue growth as GRA reports historic GH¢6.1bn in July 

    By Adnan Adams Mohammed

     

    ​Ghana’s fiscal landscape is demonstrating strong resilience and enhanced efficiency following the successful integration of advanced technology into domestic revenue administration.

    The Ghana Revenue Authority (GRA) posted a record GH¢6.1 billion in customs revenue for July 2026, marking a significant leap from the monthly pre-deployment average of approximately GH¢4 billion.

    ​The substantial revenue growth follows the full implementation of the Publican Artificial Intelligence (AI) trade valuation platform in April 2026, a move designed to modernize trade facilitation, streamline customs processing, and boost fiscal transparency.

    ​Accelerating Monthly Yields

    ​Outlining the financial impact of the digital transformation during a briefing at the Manhyia Palace, Commissioner-General of the GRA, Dr. Anthony Kwasi Sarpong, highlighted the steady upward trajectory in monthly collections over recent quarters.

    ​“The full implementation started in April 2026. So, between April and June, we are happy to report, and as the Finance Minister, Dr. Ato Forson, also echoed in Parliament, that we are collecting about GH¢1.3 to GH¢1.5 billion a month in addition to what we used to collect.

    ​“Before the implementation, we were collecting about GH¢4 billion a month. As of June, we were collecting GH¢5.5 billion. In the month of July, we collected GH¢6.1 billion, which means that our custom reforms are working,” Dr. Sarpong stated.

     

    ​For international investors and commercial entities, the deployment of AI technology offers a more predictable, transparent, and standardized valuation framework at port entries, reducing operational bottlenecks and minimizing discretionary assessment risks.

    ​Strong Fiscal Fundamentals and Tech Expansion

    ​The fiscal gains form part of a broader macroeconomic stabilization effort aimed at enhancing domestic resource mobilization and establishing sustainable public finances. Building on the success of the customs automation, the GRA is preparing to scale its technology-first strategy into retail taxation.

    ​The upcoming phase will focus on modernizing the Value Added Tax (VAT) network through real-time digital integration and automated transaction recording across commercial enterprises nationwide.

    ​“That is going to be a game changer in our VAT administration,” Dr. Sarpong noted, referring to newly approved legislative backing for digital point-of-sale reporting system integration.

     

    ​The GRA’s systemic transition toward automated tax infrastructure signals a stable, transparent, and technology-driven business environment—key indicators for long-term direct investment and private sector expansion.

  • Ghana is committed to implementing AML/CFT/CPF Policy to combat money laundering, others – Dr Ato-Forson

    Ghana is committed to implementing AML/CFT/CPF Policy to combat money laundering, others – Dr Ato-Forson

    The Finance Minister, Dr. Cassiel Ato Forson, has expressed Ghana’s commitment to ensuring adequate resources, including financial, technical, and logistical, for the implementation of the national Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT/CPF Policy)

    According to him, the policy will protect the economy from the scourge of money laundering, terrorist financing, proliferation financing and transnational organised crime for the enhancement of national and global economic stability and growth.

    His assertion was captured in the 2025-2029 Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT/CPF Policy) report.

    He said over the years, Ghana continues to demonstrate that combatting money laundering and terrorist financing is a national priority with the view to protect not only Ghana, but also to lend Ghana’s experience with the global community in dealing with these activities, including its effective implementation of prevention and detection mechanisms in the context of Ghana, the West African sub-region, Africa and the international community.

    He added that in response to the emerging ML/TF/ PF threats, the Financial Action Task Force (FATF), in collaboration with the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) continues to work to identify national-level vulnerabilities with the aim of protecting the international financial system from misuse.

    Recommendation 2 of the revised FATF Recommendations (2012) requires countries to develop national AML/CFT/CPF policies, informed by the risks identified, which should be regularly reviewed, and designate an authority or have a coordination or other mechanism that is responsible for implementing such policies.

    It also requires countries to ensure that policymakers, the Financial Intelligence Unit (FIU), Law Enforcement Agencies (LEAs), Supervisors and other relevant competent authorities, at the policymaking and operational levels, have effective mechanisms in place to enable them cooperate and where appropriate, coordinate domestically with each other concerning the development and implementation of policies and activities to combat Money Laundering, Terrorist Financing and the Financing of Proliferation of Weapons of Mass Destruction (ML/TF &P).

    The finance minister concluded that an effective AML/CFT/CPF regime is the cornerstone of every country’s ML/TF/PF risk governance.

    The 2025-2029 National AML/CFT/CPF Policy is therefore expected to comprehensively address the major structural vulnerabilities identified in the National Risk Assessment (NRA) and sectoral risk assessments, which would lead to a robust AML/ CFT/CPF regime in Ghana.

  • Economist hopes Ghana gets IMF target waivers… as it concludes 4th review

     

    IMF begins 4th review as Ghana eyes waivers for missed targets.

     

     

    Adnan Adams Mohammed

     

    The International Monetary Fund (IMF) and Ghana’s economic team have begun the fourth review of the Extended Credit Facility (ECF) programme to Ghana.

     

    Much is expected from this review as it is the first of a new political administration which has shown much will to commit to fiscal discipline while improving living standards of the citizenry.

     

    To this, an economist and lecturer at University of Ghana Business School believes Ghana is likely to obtain waivers on some of its performance targets, suggesting that the IMF will likely accommodate some of the missed targets as the President Mahama administration is new.

     

    “We definitely would miss some targets. No question about that”, Professor Patrick Asuming pointed. “The period for this ends 31st December (2024). We missed some of the performance criteria. We definitely missed the inflation target. We probably missed some of the fiscal targets, in particular the deficit target.

     

    “I think we also missed a couple of structural targets. But I think as a new government, probably the IMF will be willing to cut them some slack.

     

    Prof Asuming emphasized that the current government has demonstrated commitment to fiscal discipline, therefore, securing waivers would provide some flexibility in meeting program targets, particularly in the face of economic challenges.

     

    “The government seems aggressive in trying to implement its fiscal programmes. I have seen that they have passed the Public Financial Management Act,” he said.

     

    Meanwhile, Prof Asuming has also urged the government to maintain transparency in its negotiations on Value Added Tax reforms.

     

    “We don’t want a situation where they go and agree something with the IMF when the Ghanaian academia as well as the business community is not fully informed,” he added.

     

    The ongoing review is a critical step in Ghana’s engagement with the IMF, as the country seeks to stay on track with its economic recovery program.

     

    The two-week mission, which runs from April 2 to April 15, will assess Ghana’s economic performance and progress on structural reforms under the IMF-backed programme.

     

    The review began with discussions at the Ministry of Finance and the Bank of Ghana, focusing on the country’s fiscal performance for 2024.

     

    Over the next two weeks, the IMF delegation will engage with senior government officials, the central bank, and other stakeholders to evaluate key economic indicators, including inflation control, monetary policy, and structural reforms.

     

    The mission will also assess Ghana’s progress in meeting IMF targets related to fiscal discipline, economic stabilization, and debt restructuring.

     

    The outcome will also determine whether Ghana qualifies for the next tranche of financial support from the IMF, which is crucial for maintaining macroeconomic stability.

     

    Finance Minister, Dr. Cassiel Ato Forson emphasized the government’s commitment to economic reforms, citing the passage of transformative tax amendment bills, public procurement reforms, and policies in the 2025 Budget.

     

    He expressed confidence that with positive macroeconomic trends, Ghana’s economy could stabilize by May 2025, and stressed the importance of concluding the review on schedule. The final statement from the IMF is expected on April 15.