By Stanley Kwabla Arku
A workshop on the National Risk Assessment (NRA) exercise for Ghana was held recently, bringing together key stakeholders to strengthen the nation’s capacity to monitor and mitigate risks of terrorism financing and money laundering. The learning and practice workshop was organized by Spaces for Change, in collaboration with the Charles Stewart Mott Foundation.
The event focused on risk-based monitoring and the regulatory framework for non-profit organizations (NPOs), which are often categorized as “at-risk” due to vulnerabilities in financial oversight. Participants included the Financial Intelligence Centre (FIC), Ghana and civil society organizations (CSOs).
The workshop addressed critical aspects of risk management, emphasizing:
Regulation of At-risk NPOs: Highlighting the need for greater oversight of NPOs that may inadvertently or intentionally be used for illicit financial activities.
One of the primary goals of the workshop was to delineate the role of NPOs in national terrorism financing (TF) risk assessments, ensuring they align with global financial crime prevention strategies.
Addressing the media after the workshop, Victoria Ibezim-Ohaeri, Executive Director of Spaces for Change, emphasized the importance of partnerships in combating financial crimes.
“This workshop is a crucial step in enhancing Ghana’s capacity to combat terrorism financing and money laundering. NPOs play a significant role in society, but they are also vulnerable to misuse. Through collaboration with stakeholders like SCUML, we aim to promote compliance while preserving the operational freedom of legitimate NPOs,” she said.
Ibezim-Ohaeri also reiterated the need for a risk-based approach that balances security concerns with the need to protect the civic space.
The workshop marked an important milestone in building synergies between governments, regulatory agencies, and the non-profit sector. By leveraging Nigeria’s experiences and expertise, Ghana is expected to develop a robust framework for monitoring and regulating NPOs.
Participants agreed that sustained dialogue and collaboration are vital in addressing the challenges posed by terrorism financing and ensuring the integrity of the non-profit sector in Ghana.