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August 31, 2018 | Business & Finance

Ghana Loses Over 5.7 Billion To Fake And Counterfeit Goods

MyJoyOnline
Ghana Loses Over 5.7 Billion To Fake And Counterfeit Goods

Government has been urged to enact a law to purposely deal with counterfeit goods which have flooded the Ghanaian market.

According to Professor Douglas Boateng of PanAvest International and Partners, Ghana loses over 5.7 billion to fake and counterfeit goods every year.

The situation, he said, is growing from bad to worse due to the absence of stringent laws to deal with the menace which is accounting for accounting for five to seven per cent of world trade.

Prof Boateng revealed this at a seminar organized by WASP, only HP accredited Managed Print Service provider in Ghana to educate its clients on how to identify fake HP products and also to get value for money using its new products.

He bemoaned the ever growing negative and devastating impact of counterfeiting and piracy on business and industry, workers, economy as well the image and reputation of the country.

Prof. Boateng underscored the need for greater awareness among consumers on the harmful effects of counterfeit and illicit goods.

He said these activities have a negative impact on the Ghanaian consumer and called for appropriate remedial action to be initiated.

Also, Managing Director of WASP, Grant Webber urged clients to be very vigilant when buying HP printers and toners.

He noted that HP has introduced security seals on its products which include QR codes that can be authenticated using a smartphone app and tamper-evident features.

The WASP director indicated that their print management service among other things saves money improves efficiency, reduce environmental impact, minimize capital expenditure and improve security.

Mr. Webber said they have impacted positively on the output of public sector organizations like Volta River Authority (VRA), BOST and GNPC and private sector like Nestle, Enterprise Group, Fidelity Bank and hope to extend to other companies.

“We firmly believe that W.A.SP Ltd is your partner of choice, especially given our market leadership with similar transformational projects already concluded here in Ghana" he added.

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