Global Financial Integrity

FEATURED REPORT

Illicit Financial Flows Risks in Ghana's Fisheries Sector

New study reveals substantial and persistent IFF vulnerabilities across the capture, processing, and export phases of the value chain. Ghana’s fisheries sector is a cornerstone of the national economy and food security, contributing approximately 1.01% to GDP in 2023 and supporting the livelihoods of an estimated 10% of the population. However, the sector is in crisis. Fish stocks, particularly small pelagic species that sustain artisanal fishing communities, have declined by more than 80% over the past two decades. This decline is driven by overfishing, illegal, unreported, and unregulated (IUU) fishing, weak enforcement, corruption, and the persistent “saiko” transshipment trade, which enables industrial trawlers to illegally target the catch of small-scale fishers.

A new by study Global Financial Integrity (GFI) and the Integrated Social Development Centre (ISODEC) examines the risks of Illicit Financial Flows (IFFs) along Ghana’s fisheries value chain and their implications for domestic revenue mobilization.