Unveiling the shadowy nexus: Power, PEPs and opacity in Ghana's fisheries sector - iWatch Africa
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This investigation delves deeper into the nexus of power and privilege within Ghana's fisheries industry, revealing troubling connections between politically exposed persons, fishing trawler ownership and the pervasive lack of accountability.
  • Thirty-two percent of companies analyzed in Ghana’s fisheries sector were either owned or controlled by politically exposed persons (PEPs), with over 80 percent showing connections to Chinese ownership interests.
  • Twenty-five (25) companies analyzed showed that no director and shareholder had filed their PEP status as required by law.
  • The Registrar General of Companies in Ghana had not prosecuted a single case of PEPs’ non-disclosure of status or beneficial ownership, despite promises of legal action made years earlier.
  • The Fisheries Commission of Ghana and the Ministry of Fisheries and Aquaculture lacked processes to enforce PEP regulations set by the Bank of Ghana and the country’s beneficial ownership regulations.
  • Over 80 percent of companies licensed to operate fishing vessels in Ghana failed to declare beneficiary ownership, despite evidence of foreign ownership ties.