GFZA pledges to support GRA in fight against corruption

Michael Okyere Baafi, CEO of the GFZA

The Ghana Free Zones Authority (GFZA) pledges to work with the Customs Division of the Ghana Revenue Authority (GRA) to stem the diversion of goods produced under its enclave for export.

CEO of the GFZA, Michael Okyere Baafi in a statement assured stakeholders of law abiding members urging that the devious act of one or a few should not lead to the collapse of the Free Zones scheme. According to the Executive Secretary, the Free Zones imitative has aided in the creation of direct and indirect jobs for Ghanaians.

“The authority wishes to state unequivocally that Free Zones Enterprises are generally compliant to the Free Zones regulations. The Culpability of one Free Zone Company in wrongdoing should not provide justification for condemning the entire Free Zone scheme. The implementation of the Free Zones policy has created significant amount of direct and indirect employment and has contributed immensely to the economy of Ghana.”

Mr. Baafi also condemned the act of COMET Ghana limited, a company operating under the Free Zone Enterprise which diverted some goods meant for export in Paga leading to loss in taxes to the state. The Ghana Revenue Authority (GRA) has said some of its officers colluded with the erring company and has since reported the matter to the Economic and Organised Crimes Office (EOCO) for further investigation.

The Customs Division off the GRA announced on 12 November, 2018 that COMET Ghana Limited, a company operating in under the Free Zone Enterprise had diverted some goods meant for export in Paga.

Under the Free Zones laws, companies that produce for export are exempted from some taxes to help improve the country’s export earnings but the COMET Ghana diversion shows some abuse the system.

To show good faith, the Authority according to Mr. Baafi has contracted an independent consultancy to audit all licensed duty free shops and household plastic manufacturing companies found to have violated the Free Zone Act 1995 and its supporting regulations.