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Ghana EXIM Bank Launches Initiative to Resolve SME Financial Challenges

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Ghana Exim Bank To Solve Financial Challenge Of Smes
Ghana Exim Bank To Solve Financial Challenge Of Smes

The Ghana Standards Authority (GSA) has closed down ZxZ Company Limited, a Chinese firm, for using substandard materials for its products.

The company was found using polystyrene instead of polyurethane materials to produce sleeping mattresses for the general public, causing harm and severe body damages.

However, the GSA according to its intelligence and complaints from the public got to know of the substandard materials, hence, the decision to visit and lockdown the company.

Upon visiting the company, the Authority found other items being produced, which imitated other

Ghanaian companies designs, such as television set, home appliances and students mattresses.

Mr George Kojo Anti, Head of Special Product Unit, GSA, addressing the media during the visit, said that the company had not registered with the GSA and did not fall under the GSA license certification mark, adding the necessary punishments would be applied.

He said Ghana was opened for busines but it must not allow foreigners to produce low grade goods for human consumption, stressing the danger the use of polystyrene posed to humans.

Mr Kojo-Anti said the culprits would be punished under the GSA Acts 1078 of 2023. Stressing that the penalties would be applied strictly to serve as deterrents to other consumers.

“We are interested in moving customers from non-compliance to compliance because the businesses established are creating jobs for the citizens,” he added.

On the way forward, he said the Authority would follow up with the necessary actions and measures to ensure culprits comply with the law to produce quality products.

He called on other manufacturing companies to secure license from the GSA to ensure proper and quality products for consumers.

The GSA enforcement team on their way back also paid a visit to other manufacturers around Afienya-Prampram district and cautioned them against producing without permits from the Authority.

The GSA assured the public that it would continue to execute its legal mandate to protect consumers and promote trade.

It called for public and stakeholders support and collaboration to ensure quality control of products.

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