Overview of Extractive Industries in Ghana

The mining industry in Ghana is dominated by gold, diamond, bauxite, and manganese. These are important sources of export and government revenue. For example, gold represented 34% of the country’s exports (12% of GDP) in 2000-2003.

In 2007 significant oil discoveries were made offshore of Ghana. Estimates of Ghana's oil reserves vary between 1bn and 1.5bn barrels. However, commercial extraction will not begin until 2011 at the earliest.

Status of EITI Implementation

Ghana was accepted as an EITI Candidate country on 27 September 2007.

Ghana has until 9 March 2010 to undertake Validation.

The National Steering Committee has produced an Implementation Strategy and Plan which outlines the objectives; implementation structure; and key strategies for implementation of the initiative in Ghana.

In February 2007 the Ghana EITI process produced its first report covering payments and revenues for the first half of 2004. The second report was produced in August 2007, covering payments and receipts for the second half of 2004. The third report, covering payments and receipts for 2005, has was released in August 2008. A fourth report will be published in June 2009.

Governance of EITI Implementation in Ghana

Ghana announced its intention to pilot EITI in the mining sector in June 2003. In September of that year the Minerals Commission released the first revenue figures. A multi-stakeholder Steering Committee was established to oversee the implementation of the EITI. An EITI Working Group was then created by ministerial decree in February 2005. A Secretariat formed to oversee EITI implementation was created in the Ministry of Finance and Economic Planning. The EITI Secretariat consists of the Head, Franklin Ashiadey, two assistants and a secretary. The Ghana EITI Secretariat is a subset of the Multistakeholder Committee.

GEITI Chairperson

Mr.Nana Juaben Boaten Siriboe
Chief Director of the Ministry of Finance and Economic Planning

GEITI National Coordinator - Focal Point

Mr. Franklin Ashiadey
Senior Economics Officer
Ministry of Finance & Economic Planning
E-Mail:fashiadeyyahoo [dot] com / infogeiti [dot] gov [dot] gh
Telephone nr. : +233 24 689 819

For further information, please contact Eddie Rich in the EITI International Secretariat.