Business News of 2014-04-09

Fuel smuggling from Ghana to Ivory Coast on the rise

Smuggling of refined petro­leum products from Ghana to Ivory Coast through the Dormaa West District of the Brong Ahafo Region is regarded as the most lucrative business in the area.

Investigations conducted by The Finder revealed that smuggling of petroleum products across the bor­der from Nkrankwanta in the Dor­maa West District of the Brong Ahafo Region to Daame in Ivory Coast is a thriving business provid­ing livelihood for many families.

The smugglers tend to make huge profits on these products when smuggled outside the country due to the differences in exchange rates between the Ghana cedi and the CFA.

It was discovered that the price of a gallon of fuel in Ghana is cheaper than a gallon of fuel in Ivory Coast.

The Finder’s investigations re­vealed that an average size of yel­low gallon, popularly called Kufuor Gallon, which costs GHU55 in Ghana, is sold for GHD80 in Ivory Coast.

From Nkrankwanta in Ghana to Daame in Ivory Coast is about 9 kilometres. There are three major fuel stations in Nkrankwanta where the smugglers buy the commodity.

The Finder discovered that be­cause the two approved routes have police barriers to check illegal ac­tivities, the smugglers use the sev­eral unapproved routes to Ivory Coast.

The investigations also revealed that these criminals operate under the cover of darkness.

Most natives of Nkrankwanta in Ghana have relatives in Daame, Ivory Coast, so it is very difficult to uncover their illegal business be­cause one may think they are just visiting their relatives there.

More young men in the area are venturing into this illegal business because it is lucrative.

They normally purchase petrol from filling stations in and around Nkrankwanta at night, after which they convey the commodity in gal­lons on motorbikes to Daame.

The Finder also gathered that the smugglers normally travel in groups. One advantage for these smugglers is that they have ready market at Daame, a big market cen­tre usually busy on Fridays.

A fuel attendant at Nkrankwanta who spoke to The Finder on condi­tion of anonymity revealed that they normally record high sales on Thursdays.

Source: The Finder
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