…A Finance and Investment perspective. From a small market in Wuhan, China, the novel Coronavirus, now named COVID-19 began an inexorable march around the world and is now truly a global health crisis. Half a century of globalization has brought us closer, for good or for worse. Integrated financial markets,...
The global financial landscape has witnessed increased regulations and legislations following the 2008 financial crisis. Regulatory compliance in the financial sector implies strict adherence to policies and regulations surrounding the regulatory and supervisory environment of financial institutions. This includes, but not limited to compliance with Anti-Money Laundering (AML), Anti-Terrorist Financing...
Policy think-tank, Imani Africa, has petitioned President Nana Addo Dankwa Akufo-Addo over a potential GH¢33m average daily revenue loss due to current challenges with the new integrated Customs Management Systems (ICUMS), otherwise known as UNIPASS, deployed at the country’s sea ports. Imani, in the petition signed by its Founding President...
A senior partner at KPMG Ghana, Anthony Sarpong is advising businesses that may benefit from the government's stimulus package to spend it in critical projects that will help in reviving their operations. According to him, the fund must not be seen as free money and spent on unplanned projects. Anthony Sarpong...
On Monday, the B&FT published a story that showed that the second-largest sea port in the country, Takoradi Port, since April 1 has been struggling to electronically clear goods coming through due to technical challenges facing the UNIPASS/Integrated Customs Management Systems (ICUMS). Sources at the port say that valuation is...
Remittances are a vital source of income for developing countries, and news that global remittances are projected to decline sharply by about 20 percent this year because the COVID-19 induced economic crisis sends the chill. The projected fall would be the sharpest decline in recent history largely due to a...
set to better last year’s production revenue to remain intact The mining sector is confident of improving on last year’s production of over 4 million ounces of gold, despite the devastating effects of the novel Coronavirus, the Ghana Chamber of Mines, has assured. Although the Chamber is still in the...
The International Monetary Fund (IMF) has said that the coronavirus pandemic’s impact on Sub-Saharan African will come from three main shocks namely, economic disruptions, spillovers from global fallouts, and commodity price shocks. In its report released from the April 2020 virtual Spring Meetings on Sub-Saharan, the Bretton Woods institution said...
African countries are being urged to adopt an inward-looking trade strategy post COVID-19 to help boost the continent’s industrialisation agenda, and also make it a strong force in the global supply chain management. According to the Executive Chairman of law firm AB & David, David Ofosu-Dorte, this is the time...
President of the Ghana Institute of Freight Forwarders (GIFF), Edward Akrong says the UNIPASS, now Integrated Customs Management Systems (ICUMS), contrary to suggestions by government that all is well, is creating lots of unbearable problems for clearing agents and importers since its deployment at Takoradi Port. According to him the...