• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Capital flight study reveals Ghana’s $50bn loss over five decades

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
121
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Capital flight study reveals Ghana’s $50bn loss over five decades

A report authored by Professor Léonce Ndikuma, an economist at the University of Massachusetts Amherst, has exposed Ghana’s staggering loss of approximately $50 billion to capital flight over the past five decades.

The comprehensive study delves into the complex interplay of domestic and global factors driving capital flight in selected African nations, including Ghana, Cameroon, and Zambia, all of which boast significant natural resources.

The report highlights that the $50 billion loss is chiefly attributed to the misreporting of trade values, a practice predominantly observed in the gold mining and cocoa industries.

In the gold sector, discrepancies were evident between the recorded export values by Ghana and the actual value of gold received by the destination countries.

An illustrative example provided in the report pointed out the incongruity, as Ghana’s exports of gold to South Africa in 2020 to 2021 amounted to approximately $15 billion, while questions surrounding the reconciliation of these figures loom large.

In the cocoa industry, losses due to capital flight were relatively modest, primarily due to the Ghanaian government’s significant stake in cocoa trade. However, the report highlights the stark contrast in control within the cocoa value chain, with Ghana retaining a 4.0% share as a producer, while a substantial 79% of the value chain is overseen by the processing and distribution sector.

RelatedPosts

Chamber of Agribusiness Calls for Sector-Wide Price Cuts and Urgent Government Support to Curb Food Crisis

The Perils of Market Interventionism: When Political Pressures Threatens Ghana’s Economic Gains – The Way Forward

GAB Projects Drop in Lending Rates Starting August 6 Following BoG’s 300bps Policy Rate Cut

The report also sheds light on a cumulative private wealth of approximately $56 billion, with 110 Ghanaian multimillionaires boasting equity in excess of $10 million. Consequently, the report recommends that Ghanaian business owners focus their investments on enhancing the value chain within these sectors.

Beyond Ghana, the report underscores a profound issue affecting the entire African continent, revealing an astounding capital flight of about $2 trillion from 1971 to 2018.

Titled “Capital Flight from Africa and Perverse Global Connections: Analysis and Possible Solutions,” the report highlights the imperative need for closer scrutiny and measures to curtail capital flight in order to promote sustainable economic development across the African continent.

Tags: Capital flightCapital flight study reveals Ghana's $50bn loss over five decadesCocoaGold
No Result
View All Result

Highlights

Local Bourse Rallies Strongly as GSE-CI Hits Near 7,000 Mark

Treasury Exceeds Auction Target of GHS 3.86 Billion Amid Tightening Yields

BoG Raises GHS 15.38 Billion via 56-Day Bills to Reinforce Tight Monetary Policy Stance

Passage of Competition Law Key to Tackling DSTV’s Market Dominance – CUTS International

Why Are Interest Rates Still High? The MPR vs Market Rates Debate

Climate Change Is Making Africa’s Debt Burden Worse – New Debt Contracts Could Help

Trending

Agribusiness

Chamber of Agribusiness Calls for Sector-Wide Price Cuts and Urgent Government Support to Curb Food Crisis

August 4, 2025

Chamber of Agribusiness Calls for Sector-Wide Price Cuts and Urgent Government Support to Curb Food Crisis The...

The Perils of Market Interventionism: When Political Pressures Threatens Ghana’s Economic Gains – The Way Forward

August 4, 2025

GAB Projects Drop in Lending Rates Starting August 6 Following BoG’s 300bps Policy Rate Cut

August 4, 2025

Local Bourse Rallies Strongly as GSE-CI Hits Near 7,000 Mark

August 4, 2025

Treasury Exceeds Auction Target of GHS 3.86 Billion Amid Tightening Yields

August 4, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.