BoG sets strict penalties for exporters who delay repatriating proceeds

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• Achakanapaya 1 month ago

  This new Bank of Ghana building built by Akuffo Addo and the useless Npp is the only befitting project the npp under took that I'm personally proud of.
  As for this one Akuffo Addo did well but Ghanians want a forensic audit ...
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  This new Bank of Ghana building built by Akuffo Addo and the useless Npp is the only befitting project the npp under took that I'm personally proud of.
  As for this one Akuffo Addo did well but Ghanians want a forensic audit into the project because we all know they are Nation wreckers.

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• Blaise mwinkyebakangbuobukaraa 1 month ago

  I think Akuffo Addo, Bawumia and Addison and Ofori Atta should be executed by firing squad.

  I think Akuffo Addo, Bawumia and Addison and Ofori Atta should be executed by firing squad.

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• Ghananaba 1 month ago

  This is the most useless directives coming from BOG.
  1. Did BOG provides any financial assistance to the exporter?
  2. Not every export ends up being profitable. Sometimes they incur loss. What financial support is BOG pro ...
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  This is the most useless directives coming from BOG.
  1. Did BOG provides any financial assistance to the exporter?
  2. Not every export ends up being profitable. Sometimes they incur loss. What financial support is BOG providing to exporters in terms of loss?
  3. Most exporters don't sell all their products and get a guarantee payment within 3 months. They Sometimes receive payments in installments, which can span several months if not about a year.
  4. BOG has no right to force exporters to repatriate their proceeds or imprisoned them when the working capital doesn't belong to BOG. This is just an empty threat.
  5. BOG wants to force repatriation of export proceeds, but making it difficult for the importers to make payments to their suppliers abroad.
  6. BOG draconian policies is discouraging people to remit money to Ghana hence the need to force people to remit funds to increase BOG reserve.

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• Simple 1 month ago

  Provide document if you can't repatriate within the window given.

  Provide document if you can't repatriate within the window given.

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• Simple 1 month ago

  Not document, justification

  Not document, justification

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• Ghananaba 1 month ago

  You are not an exporter, so you have no idea how the Ghana export ecosystem works. It takes about 2 months to ship goods from Ghana to United States. Once the good arrived, it can take about a week or two to clear the goods f ...
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  You are not an exporter, so you have no idea how the Ghana export ecosystem works. It takes about 2 months to ship goods from Ghana to United States. Once the good arrived, it can take about a week or two to clear the goods from the port. Selling the goods could sometimes take months if not year as you may not have a guarantee sales. And some buyers may pay by installments for several months. BOG is giving 3 months deadline that is far from reality.

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• Benji 1 month ago

  BoG is giving 4 months, you fool. 120 days, not 90 days.

  BoG is giving 4 months, you fool. 120 days, not 90 days.

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• Ghananaba 1 month ago

  There is no need of insulting. You should be very careful of your words and don't think you're hiding behind your keyboard. It doesn't matter whether 3 or 4 months, exporters always repatriate their money to Ghana to continue ...
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  There is no need of insulting. You should be very careful of your words and don't think you're hiding behind your keyboard. It doesn't matter whether 3 or 4 months, exporters always repatriate their money to Ghana to continue doing business. However, providing a deadline to repatriate the funds is far from reality on how export works. BOG is running low on their reserves due to their own policies hence the need to put pressure on exporters to increase their reserves.

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• Blaise mwinkyebakangbuobukaraa 1 month ago

  These explanations for the ordinary Ghanaian to understand. This is why twi news is better. They would have explained what exactly this means.

  These explanations for the ordinary Ghanaian to understand. This is why twi news is better. They would have explained what exactly this means.

  reply