$50b lost yearly at Ghana’s ports – Financial Consultant

Business News of Tuesday, 23 June 2015

Source: kasapafmonline.com

Tema Port Ghana NewLibrary Photo

Some 50 billion dollars in revenue is lost yearly through Ghana’s ports as a result of fraudulent activities by some importers, a financial consultant, Cudjoe Akwabi has said.

Ghana is not able to secure the system tightly to deal with revenue leakage and the abuse of importers in its major ports, which extensively bleeds state’s coffers, he adds.

“Ghana’s ports are a cash cow for some people,” hence the need to retool revenue protection in the port system. “We have 16 institutions at the port; doing what,: he said on Kwaku Owusu Agyei’s Si Mi So.

Kwabi was commenting on a supposed amount GHc 197 million money government owes Information Technology Service provider Bankswitch.

The issue has since become a subject of public discussion with some people questioning the wisdom of the Trade Ministry, in soliciting for monies from some Destination Inspection Companies, to help it defray the cost.