President Mahama targets $21bn in looted state asset recoveries

President John Dramani Mahama

|Published 3:50 PM ET, Thursday February 13, 2025|

ACCRA: Ghana’s President John Dramani Mahama has announced an ambitious initiative to recover approximately $21.19 billion in misappropriated state assets and undervalued land sales. This effort is spearheaded by the Operation Recover All Loots (ORAL) Committee, chaired by MP Samuel Okudzeto Ablakwa. The committee’s findings suggest that successful asset recovery could significantly reduce Ghana’s reliance on external financial assistance.

However, experts caution that achieving even a fraction of this target may be challenging. Bright Simons, Vice President of IMANI Africa, notes that a substantial portion of the identified funds has already been expended, complicating recovery efforts. He emphasizes the need for rigorous scrutiny of the Attorney General’s commitment to this initiative and calls for a comprehensive assessment of the resources required for effective investigations and prosecutions.

This initiative aligns with President Mahama’s broader anti-corruption agenda, which includes the establishment of a dedicated anti-graft team announced in December 2024. The team comprises individuals with diverse expertise, including former Auditor-General Daniel Dumelovo, and aims to gather information on suspected corruption, recover lost assets, and hold perpetrators accountable.

While the path to recovering these assets is fraught with challenges, this initiative represents a significant step toward enhancing transparency and accountability in Ghana’s governance. The success of this endeavor will depend on the effective implementation of anti-corruption measures and the sustained commitment of all stakeholders involved.