Overview of Extractive Industries

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. 

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. Ghana has requested an extension to their Validation deadline which will be considered by the International EITI Board when it meets 15-16 April. A draft of the Validation Report has been received by the EITI Board Validation Committee and work has begun on agreeing a final Validation Report.

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, was released in August 2008. A fourth report to cover 2006-2008 is presently being prepared. 

Consideration is being given to how to extend the GHEITI to the oil and gas sectors.  A scoping mission was undertaken in July 2009, and discussions are proceeding on how to extend the Steering Group. 

Governance of EITI Implementation

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

Mrs Effie Simpson Ekuban
Chair of Ghana EITI
Acting 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:fashiadey [at] yahoo [dot] com / info [at] geiti [dot] gov [dot] gh
Telephone nr. : +233 24 689 819

Companies operating*

Oil & gas companies: Tullow Oil, Kosmos Energy, Hess Corp*, Vanco, Aker ASA, Vitol UPS, Young Energy, Anadarko, Sabre

Mining companies: Alcoa*, Anglo American*, Gold Fields*, Newmont*, Aluminia Ltd, Iamgold, Metorex Ltd, Mwana Africa plc, Red Back Mining Inc, Crew Gold, Metorex Ltd
* EITI Supporting Company

* Note: Company list based on EITI research and is not conclusive

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