Adopt E-transactions to reduce corruption

The Minister for Trade and Industry, Dr. Ekow Spio-Garbrah has called for the introduction of e-transactions throughout the commonwealth to facilitate less human interactions during exports transactions and ensure efficiency in the public sector.

Dr Spio-Garbrah explains that human interactions often stems up corruption which then cripples business activities and productivity in the country.

“Encourage the placement of E-facilitation throughout the commonwealth, E-agriculture, E-education, E-commerce, E-learning, E-governance and so by virtue of that experience, I got to be familiar with some of the practices that exist in some countries that allow all of us in business and the public sector to be more efficient, to be more transparent and to reduce human to human interaction which is what leads to corruption.”

He added that the E-transactions will cut out any plans of corruption as it is a direct transaction through the internet.

“If you can clear your goods from the harbour or do a business registration or get your land documentation without talking to anybody, the chances are that they cannot collect bribe over the internet through E-payment systems,” Dr. Spio Garbrah added.

The Minister made the comments during a breakfast meeting organized by the Ghana Business Day on Brexit's implications for Ghana-UK trade.

The decision by the UK to leave the EU in a referendum in June this year raised numerous concerns of the impact on global economy including emerging ones such as Ghana.

Commenting on the development, Foreign Affairs Minister, Hanna Tetteh said Ghana would have to re-engage Britain over trade agreements between the two countries following Britain's decision to exit the European Union.

Though she explained that the decision will not significantly affect Ghana's engagements with the EU over the EPA, possible amendments to the UK's foreign policies will make a renegotiation necessary.

“We would now have to consider renegotiation of our bilateral trade agreement with the UK even though this is something that we see coming in the horizon, we also will have to anticipate beginning our bilateral trade with the European Union (EU) as we have significant trade agreements with Germany, France, among others,” she said.

Brexit not to affect economy
Meanwhile Economists also ruled out any significant impact on some UK companies operating in the country. According to them, if the UK should exit, it would have different implications on foreign policy, trade partnerships and agreements among others.

They however stated that believe that even if the UK decide to remain in the Eurozone, things will not change within the short to medium term.

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By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana