Complaint

Complaint number
AfCFTA-000-067  
NTB Type
2.9. Other  
Complaint
We are facing challenges in receiving down payments from importers of Sisal fibre in Ghana. We are required to submit a Bill of exchange to facilitate the release of part payments by the National Investment Bank of Ghana. This has made it difficult for us to receive payments in time. Before this requirement, we would receive our payments in 3 days (part payment, 70% of the full payment) and the balance in 21 days. With the new requirement, it will take us 21 days to receive the part payment and 63 days to receive the full payment. There are also additional courier costs to courier documents from Tanzania to Ghana increasing the cost of doing business. The new requirement started on 1st of May 2024 and before that we used to trade with Ghana without the need to submit the Bill of Exchange. The requirement applies for payments above US$50000. Were possible, the Bill of exchange requirement must waived to allow ease of doing business and to revert back to the status quo before May 2024.  
Progress update note
 
Policy or regulatory NTB
No 
Location
Ghana: National Invetsment Bank of Ghana (Other)  
Reporting Country or Region
Tanzania, United Republic of  
Date of incident
2024-05-01  
Status
New  
Product Description
Sisal Fibre
 
Total value
43 680.00  
Annual trade value
800 000.00  
Date reported
2024-05-08  
Modified
2024-05-08 15:42