GHANA FREE ZONES BOARD ANNUAL REPORT AUDITED ACCOUNTS · AUDITED ACCOUNTS 2011 Ghana free zone...
Transcript of GHANA FREE ZONES BOARD ANNUAL REPORT AUDITED ACCOUNTS · AUDITED ACCOUNTS 2011 Ghana free zone...
GhanafreezoneBoard
AnnualReport20111
GHANAFREEZONESBOARD
ANNUALREPORT
&
AUDITEDACCOUNTS
2011
GhanafreezoneBoard
AnnualReport20112
VISIONSTATEMENT
TofacilitateavibranteconomyinGhana,drivenbyawell-integratedbusinessenvironmentwithworldclasscapacityforcompetition,technologicalinnovations,businessgrowth,
economicdiversityanddevelopment
MISSIONSTATEMENT
TohelptransformGhanaintotheGatewaytoWestAfricabycreatinganattractiveandconducivebusinessenvironmentthroughtheprovisionofcompetitiveFreeZoneincentivesandoperationofanefficient“one-stop-shop”forthepromotionandenhancementofdomesticand
foreigninvestment.
GhanafreezoneBoard
AnnualReport20113
CONTENTS
Pages1.0 OVERVIEWOFGHANAFREEZONESBOARD 1.1 Introduction 1.2 FunctionsoftheBoard 1.3 Concept 1.4 Purpose 1.5 Strategy 1.6 Achievements 1.7 MembersoftheBoard 2.0 EXECUTIVESUMMARY
3.0 REVIEWOFOPERATIONS 3.1 HumanResourceDepartment 3.2 Marketing,Promotion&PRDepartment 3.3 ProjectEvaluation&LicensingDivision 3.4 Estate&EnclaveDevelopmentDepartment 3.5 MonitoringDepartment 3.6 InformationTechnologyDepartment 3.7 LegalDepartment
4.0 DATAANALYSIS 4.1 InvestmentCapitalSchedule 4.2 ProductionScheduleOfManufacturingAndServiceEnterprises 4.3 ImportScheduleOfCommercialEnterprises 4.4 ExportScheduleOfAllEnterprises 4.5 EmploymentScheduleOfAllEnterprises 4.6 Salary/WageScheduleOfAllEnterprises 4.7 Vat/DutiesPaidOnSalesIntoTheDomestic/LocalMarket 4.8 TrainingScheduleOfAllEnterprises(GhanaianNationals) 4.9 SocialSecurityScheduleOfFreeZoneEmployees 4.10 IncomeTaxScheduleOfFreeZoneEmployees
5.0 FINANCIALREVIEW 5.1 Revenue 5.2 Expenditure
6.0 CONSTRAINTS
7.0 CONCLUDINGREMARKS
GhanafreezoneBoard
AnnualReport20114
APPENDICES
Page
Appendix1 FreeZoneEnterprisesLicensedIn2011
AppendixII OccupancyatTemaEPZ/MPIPin2011 AppendixIII ListofcompaniesvisitedforOperationalAuditin2011
AppendixIV CapitalInvestedByFreeZoneEnterprises2011 AppendixV Production Schedule Of Manufacturing And Services Enterprises
2011
AppendixVI ImportScheduleOfFreeZoneEnterprises2011
AppendixVII ExportScheduleOfAllFreeZoneEnterprises2011
AppendixVIII EmploymentScheduleOfFreeZoneEnterprises2011
AppendixIX Salary/WageScheduleOfFreeZoneEnterprises2011
AppendixX Vat/DutiesPaidOnLocalSalesByFreeZoneEnterprises2011
AppendixXI Training Schedule Of Free Zone Employees (Ghanaian Nationals)2011
AppendixXII SocialSecurityScheduleOfEmployeesOfFreeZoneEnterprise2011
AppendixXIII IncomeTaxScheduleOfFreeZoneEmployees2011
AppendixXIV AuditedAccounts
TABLES
TableI RegistrationofCompanies TableII Employment TableIII Production TableIV Export TableV CapitalInvested TableVI EmploymentDistributionbySector
GhanafreezoneBoard
AnnualReport20115
1.0OVERVIEWOFGHANAFREEZONESBOARD
1.1INTRODUCTIONTheFreeZoneAct(1995),Act504,waspassedon31stAugust,1995forthepromotionofeconomicdevelopment, toprovide for the regulationofactivities in free zonesand forrelatedpurposes.ThereisestablishedbythisActaBoardwhichistheGhanaFreeZonesBoard.
1.2FUNCTIONSOFTHEBOARDThefunctionsoftheBoardarestipulatedasfollows:
q Grantlicensestoapplicants;q Assist applicants for licenses under Act 504 by providing services for obtaining other
relevantlicences,permitsandfacilities;q Examine and recommend for approval, proposals relating to the development and
activitiesofthefreezones;q Monitor the activities, performance and development of Free Zone Developers and
EnterprisestoensurecompliancetotheFreeZoneActandanyother lawsrelevanttofreezoneactivities;
q Registerandkeep recordsanddataon theprogrammesofdevelopers,operatorsandenterprisesinfreezones;
q Performsuchotherfunctionsasareincidentaltotheforegoing.
1.3CONCEPTTheGhanaFreeZonesProgrammeisprivatesectordriven.Government'srole is limitedto facilitating, regulating and monitoring activities of Free Zone Enterprises andDevelopers.
TheProgrammeisdesignedprimarilytopromoteprocessingandmanufacturingofgoodsand services through the establishment of Export Processing Zones (EPZs), structuredeitherasenclavesorsingle-factoryenterpriseschemes.TheProgrammealsoencouragesthe development of commercial and service activities in and around seaports andairports.
Under theGhanaFreeZonesProgramme, thewholeofGhana isaccessible topotentialinvestorstolocateinandproducegoodsandservicesprimarilyforexport.
1.4PURPOSEThe main objective of the Free Zones Programme is the promotion of economicdevelopmentthroughthefollowingmeans:
q Attractionofforeigndirectinvestment;
GhanafreezoneBoard
AnnualReport20116
q Creationofemploymentopportunities;q Increaseinforeignexchangeearnings;q Provision of business opportunities for foreign and local investors to undertake joint-
ventures;q Enhancementoftechnicalandmanagerialskills/expertiseofGhanaians;q Transferoftechnologyanddiversificationofexports.
1.5STRATEGYThe main strategy of the Board is to market Ghana as a destination of choice forinvestmentsthathavepotentialtogenerateexports.Otherstrategiesinclude:
q ProvisionofattractiveincentivestofacilitatethesettingupoffactoriesandbusinessesinGhana.
q Elimination of all bureaucratic and procedural obstacles in the establishment and/oroperationalphaseoffreezonesprojects.
q Encouraging and supporting the linkage of local and foreign free zone investmentsthroughjointventurearrangements.
q Facilitationoftransactionsbetweenfreezoneinvestorsandlocalindustriestomaximizethevalueadditionofexportablecommoditiesinthenationaleconomy.
q PromotionofskillsdevelopmentandimprovedexpertiseofGhanaianemployeesinfreezoneenterprises.
q Encouraging the development and growth of the export sector, through emphasis onvalueadditiontolocalresources.1.6ACHIEVEMENTS
1.6.1RegistrationofCompanies
Since the inceptionof the free zonesprogramme, anumberof companieshavebeenlicensed under the scheme in order to benefit from the incentives that render themcompetitiveandalsogivethemtheopportunity toreacha large internationalmarket.The Ghana Free Zones Board has progressively registered new companies each year.Total number of registered free zone companies as at 2011 was 291, the yearlydistributionofwhichisasfollows:TableIYEAR NO.OFCOMPANIES1996/97 81998 111999 62000 112001 14
GhanafreezoneBoard
AnnualReport20117
2002 252003 372004 232005 212006 292007 282008 262009 72010 202011 25Total 291
1.6.2EmploymentTotalemploymentcreatedundertheFreeZoneProgrammeasattheendof2011was30,080,yearlydistributionofwhichisasfollows:
TableII
YEAR EMPLOYMENT1996/97 3,4831998 3,9681999 5,5232000 6,8952001 7,4452002 9,4592003 14,0712004 23,9282005 28,3342006 25,7732007 28,8802008 28,5952009 28,9362010 29,7982011 30,080
1.6.3ProductionAnnual production value of Free Zones Companies in 2011 wasUS$1,195.67M. Theyearlyfiguresfrom1996/97to2011areasfollow:
GhanafreezoneBoard
AnnualReport20118
TableIIIYEAR PRODUCTION(US$M)1996/97 1.40.001998 158.501999 162.202000 134.402001 103.602002 222.502003 286.502004 348.702005 602.902006 506.602007 478.602008 1,116.002009 821.002010 1,329.002011 1,195.67Total 7,517.57
1.6.4Export
Annualtotalexportvalueoffreezonecompaniesin2011wasUS$1,966.72M.Aggregateexports of licensed Free Zone Enterprises from 1998 to 2011 amounted toUS$10,104.63M.Thebreakdownisgivenbelow:
TableIV
YEAR VALUE(US$M)1998 145.401999 184.082000 165.072001 291.032002 174.302003 414.012004 627.402005 509.992006 522.812007 779.902008 1,286.912009 1,667.57
GhanafreezoneBoard
AnnualReport20119
2010 1,690.702011 1,966.72Total 10,104.63
1.6.5CapitalInvestedDuringtheyearunderreviewUS$224.64Mwas invested invarioussectorsof the freezone programme. The cumulative amount of capital invested in free zones since theinceptionof theprogramme in 1996/97 to the endof 2011 stands atUS$2,157.94M.Thebreakdownofinvestmentsovertheyearsisasfollows:
TableV
YEAR VALUE(US$M)1998 117.181999 80.632000 43.822001 163.522002 41.512003 160.542004 131.322005 185.902006 151.832007 114.032008 315.842009 214.832010 212.332011 224.64Total 2,157.94
GhanafreezoneBoard
AnnualReport201110
1.7MEMBERSOFTHEBOARD
Hon.HannaS.Tetteh
(Minister of Trade &Industry)
Chairperson
Mr. Kwadwo TwumBoafo
Ag.ExecutiveSecretary
Mr.JoelHyde(late)
Member
Mrs.GiftyAnku
Member
Mr. Raymod NeequayeKotey
Member
Mr.HumphreyQuaye
Member
HajiaLaadiAyiiAyamba
Member
MrsFlorenceHutchful
Member
Hon. Alhaji Ibrahim DeyAbubakari(MP)
Member
Ms. Sheila Acquah-Asare
Member
GhanafreezoneBoard
AnnualReport201111
2.0EXECUTIVESUMMARY
Theyear2011wasadifficultyearfortheBoardduetotheunfortunatelossofoneofitsmostactiveandeffectivemembersMr. JoelHydediedon18thOctober2011.HewashowevernotreplacedthustheBoardwasmadeupofeight(8)membersasattheendoftheyear.Mayhissoulrestinpeace.
TheGhanaFreeZoneBoard(GFZB)enteredits15thyearofestablishmentin2011.Havingbeeninexistenceforadecadeandhalf,theBoardreflectedontheachievementssofarchalkedandwaysto improvetheimplementationoftheprogrammetomakeitrelevant inmoderntimes.TheBoardhowevercontinuedtomaintainitsfocusonitsmandateofattractingexportorientedinvestmentsintoGhanaandstrivedtoachievetheobjectivesforwhichitwasestablished.
Thenumberofemployeesat theSecretariat increasedmarginallyduring theyear.Asat31stDecember2011thestaffstrengthwasatfifty-two(50).
Duringtheyearunderreview,theGFZBcelebratedits15thyear inoperationbyorganizinganopendaytopromotethe freezonesprogramme locally. Furthermore, theGFZBparticipatedactivelyinlocalfairsandsponsoredselectedsocialprogrammes.Also,thedocumentaryonthefreezonesprogrammewasupdatedtoshowcasenewinvestmentsinthefreezones.
TheBoardreceivedthirty-one(31)newapplicationsduringtheyearandhadabacklogoffive(5) applications from2010bringing taking the total number of applications to thirty-six (36).Outofthis,theBoardapprovedtwenty-four(24)applications,declinedseven(7),whilstfive(5)werependingconsideration.
TheGhanaFreeZonesBoarddidnotrevokethelicenseofanyfreezoneenterpriseduringtheyear,however two (2) companiesvoluntarilyoptedoutof theFreeZonesdue tooperationaldifficulties and the appropriate front-line agencies such as CEPS, NTMC, VAT and IRS wereinformedfortheappropriateexitaudittobeconducted.Thetotalnumberoflicensedfreezoneenterprisesthereforestoodattwohundredandseventeen(217)asattheendof2011.
Intheyearunderreview,nonewexportprocessingzonewasacquiredthereforethenumberofexport processing zones remained four (4). The number of companies located at the TemaExportprocessingZone(TEPZ)duringtheyear increasedfromforty-three(43) inthepreviousyear to forty-seven (47) with forty-one (41) companies located within the Multi-PurposeIndustrialpark(MPIP)andSix(6)withinthebufferzone.
The constructionof the fencewallwas completedduring the year however theBoard facedsome challengeswith regard to the security of the enclave due to the remaining gap in thefencewall.TheBoardcouldnotacquirelandfortheimprovementofwatersupplytotheTemaEPZ.TheBoardliaisedwiththeGhanaPoliceServiceandTemaDevelopmentCorporation(TDC)toejectillegaltenantsfromtheCommunity21landacquiredbytheBoardforconstructionofaresidentialestateinwhichaChinesedeveloperhadexpressedinterest.
GhanafreezoneBoard
AnnualReport201112
Duringtheyear,theBoardlicensedanotherChinesedevelopertodeveloptheSekondiEPZ.
OtherchallengesfacedbytheBoardincludedtheremovalofillegaloccupantsatthefrontageof theTemaEPZ and repairs of theTemaEPZAdministrationBlock (Red SeaBuilding)whichcaughtfire.ThecontractforthedrillingofaboreholeattheTemaEPZwascompletedduringtheyear.
During the reporting year,monitoring visits were paid to eighty-one (81) licensed free zoneenterprises to ensure that they comply with the Free Zone Act and Regulations. Variousmeasures were instituted by the Board to shore up the revenue base of the GFZB in thepreviousyear yielded results through theenforcementof sanctionandpenalties. The lackoflegislativeinstrumentspellingoutthepenaltypointsposedsomechallengesinenforcingsomeoftheproposedpenalties.
The Operation Audit Department was successfully created during the year to ensurecomplianceofFreeZoneEnterprisesandDeveloperstotheFreeZoneActandRegulations. Inallforty(40)FreeZoneEnterpriseswerevisitedforOperationalAuditduringtheyear.
To improve the information and communication technology infrastructure at the Secretariatfour (4) servers were rebuilt and installed withWindows Server 2008 in addition to a webdrivenapplicationdatabase.Anationwidee-GovernmenttelecommunicationinfrastructureforGhana was also extended to the Secretariat during the year by the National InformationTechnologyAgency(NITA).
Inlinewiththee-Governmentpolicyanewdomainname,gfzb.gov.gh,wasregisteredfortheBoardwithGhanaDotComCompany.
The LegalDepartment gaveadvice to theBoardandensured that theBoardwasadequatelyrepresentedinalllegalsuits.
Totalcapital invested in2011alonebyFreeZoneEnterprisesamountedtoUS$224.64millionwhile the cumulative capital invested since the inceptionof theProgramme i.e.1996/7-2011stoodatUS$2,157.94million
The value of production by Free Zone Enterprises for the year under review amounted toUS$1,195.67million while the value of Export for the same year amounted to US$1,966.72million
Total employment figures as at the end of the year 2011 was 30,080 comprising 29,216nationals and 864 expatriates. Total value of salary/wages for the year under review wasUS$94,583,775.00withGhanaianemployeesearningUS$71,758,676.00andexpatriatesearningUS$22,825,099.00
Total duties/levies paid on sales into the local market as at the end of 2011 amounted toUS$4,927,029.13whilstatotalofUS$1,123,994.02wasspentontrainingGhanaianemployees.Also, Free Zone Enterprises paid a total amount of US$9,394,538.79 in Social Security
GhanafreezoneBoard
AnnualReport201113
contributionswhilstUS$12,240,997.89was paid as income tax in respect of their employeesduringtheyearunderreview.
TheBoard’s total incomegenerated in2011wasSevenmillion,FourHundredandThirty-OneThousand,FiveHundredandThirty-FourGhanaCedis,(GHC7,431,534)asagainstFiveMillion,EightHundredandTenThousand,OneHundredandNinety-NineGhanaCedis(GHC5,810,199)in 2010. This represents a 28% increase over revenue generated in 2010. The increase wasmainlydue to leviesandpenaltiesagainst companieswho failed tooperateaccording to theboard’sregulations,increasedsaleofForms,paymentoflicencefeesandrenewaloflicences.
The Board encountered some constraints in its operations during the reporting year. Theseincluded the lack of funds to develop the three (3) designated export processing zones, theunreliablesupplyofutilities,merging threeseparatedatabases intoonecentralizeddatabaseduetotheintroductionofnewsoftware.
Going forward, theBoardexpects in theensuing year todeploy strategicmarketingplans toattractmore investments in to the country, andalsoensure strict compliance tooperationalregulationsbyFreeZonecompanies.
GhanafreezoneBoard
AnnualReport201114
3.0REVIEWOFOPERATION
3.1HUMANRESOURCEDEPARTMENT
3.1.1RecruitmentThehumanresourcecapacityof theGFZBhasbeengrowingsteadily tomatch the increasingworkloadattheSecretariat.Duringtheperiod,atotalofNine(9)peoplewererecruited;two(2) drivers and Seven (7) Assistant Officers were recruited to various departments. AnOperationalAuditDepartmentwascreatedandanOperationalAuditManagerandanassistantwereassignedtoit.Forthesameperiod,four(4)nationalservicepersonswerepostedtotheSecretariat.
3.1.2TrainingandDevelopmentStaff development is a major objective of the human resource department. Staffs wereregisteredforcoursestodeveloptheircapacitiestoincreasetheirproductivityandtwelve(12)staffmembersparticipatedinvarioustrainingprogrammes.SelectedmembersoftheBoardandstaffmembersalsoembarkedontrainingprogrammestobeenlightenedonmanaginginvestmentpromotionagencies,marketingandbestpractices.
TheBoardalsoparticipatedintheWorldFreeZoneConventionwhichsorttoeducatefreezoneAgenciesonbestpractices,infrastructure&realestateinvestmentplanningandmanagementforfreezonesandindustrial/technologyparks,investorattractionandinvestoraftercare.
3.1.3PromotionOne(1)ClerkwaspromotedtotherankofSeniorClerk.3.1.4 StaffStrengthThehumanresourcecapacityoftheGFZBstoodatFifty(50)in2011withthirty-two(32)seniorstaffandeighteen (18) junior staff. In termsofgenderdistribution, therewerenineteen (19)femalesandthirtyone(31)males.3.1.5HumanResourceProgrammeFor2012In the ensuing year, the human resource department is expected to create value to theorganizationbywayof:
• TrainingandDevelopment• DetermineStaffing• Orientingandtrainingnewemployees• Identifyingtrainingneeds• Designinganddeliveringtraining.• Performance/appraisal• RewardingandMotivatingemployees• Evaluation• Feedback
GhanafreezoneBoard
AnnualReport201115
• HRsystemimplementations• LegalissuesandTeamperformance
3.2MARKETINGDEPARTMENTTheMarketing, Promotion&Public RelationDepartment’s plan for 2011was to concentratemore on local promotions to create awareness of the Ghana Free Zone Programme and itsoffering. In this regard, the Secretariat organized its first open day programme, participatedactively in local fairs and sponsored selected social programmes to enhance its image. TheDepartmentalsocontinuedtopursuetheGFZB’smandateofpromotingandenhancingforeigninvestment.Belowaresomeofthemajoractivitiescarriedoutduringtheyear2011.3.2.1LocalFairsDuringtheyear,theBoardparticipatedinfive(5) localfairs i.e.GreaterAccraRegionalPolicyFair, Ashanti Regional Policy Fair, Kumasi, Volta Regional Policy Fair, Ho, Northern RegionalpolicyFair,Tamale,15thGhanaInternationalTradeFair inAccraandInternationalConferenceandExhibitiononFoodProcessingorganizedbyRidmutConsult.3.2.2InternationalFairsTheBoardalsoparticipatedinthree(3)internationaltradefairs.TheyaretheUS-AfricaSummitExhibition,Washington,USA;SalonduChocolateFair–Paris,FranceandEcowasInternationalTradeFair-Lome,Togo.3.2.3InvestmentpromotionMissionsTheBoardincollaborationwiththeGIPC,embarkedonseveralinvestmentpromotionmissionsandbusinessfora.Inallabout15countrieswerevisited.Theyare;
• Kigali,Rwanda• UAE,Dubai• NewDelhi,India• TelAviv,Israel• DarEsSalaam,Tanzania• Moscow,Russia• Seoul,SouthKorea• KualaLumpur,Malaysia• Orlando,UnitesStatesofAmerica• WashingtonDC/NewYork,USA• Paris,France• Perth,Australia• Lagos,Nigeria• Lome-Togo• London,UnitedKingdom
GhanafreezoneBoard
AnnualReport201116
FromtheInvestmentpromotionmissionsembarkedon,theBoardreceivedvariousdelegationsfromaroundtheworldonfollowupmissions.ThedelegationswerefromIndia,Morocco,UK,Israel, USA, Iran, Gambia, Israel, Sri Lanka, Italy and Kenya. Alteco Chemical Limited, a GlueManufacturingCompanyfromSingaporecommencedresearchonthepossibilityof locatingasubsidiaryinGhana.Members of these delegations were provided with information on the investmentopportunities available under free zones programme. The Department organized visits toselectedFreeZoneEnterprisesforsomeofthedelegations.3.2.4PromotionalMaterialsIntheyear2011,thedepartmentprintedadditionalbrochuresasaresultofincreaseinnumberofenquiriesreceivedandparticipation in localandforeignfairs.Thedepartmentalsoprintedbrochures in French and Korean for the Salon Du Chocolate Fair in France and for theinvestment promotionMission to South Korea respectively. Promotionalmaterialswere alsoforwarded toGhanaMissionsabroad through the InformationServiceDepartmentandsomeweredirectlyforwardedtoMissionsthathostedinvestmentprogrammes.Attractivebannerswerealsoproducedhighlighting informationwhichweredeemedessentialtoinvestorstoenabletheBoardmarketitselfeffectivelyduringinvestmentpromotionmissionsand conferences. Banners were also printed in French and others were printed for specificinvestment programmes in various countries to provide more personalized messages toinvestors.3.2.5StudyToursTheBoardin2011receivedtwodelegationsfromTogoandGambiaonstudytourvisits.Thesegroups had discussions on the development of free Zone enclaves and exchanged ideas oninvestment Promotion management. They also visited the Tema Export Processing Zone toacquaintthemselveswithactivitiesattheEnclave.3.2.6OpenDayEventTheobjectiveoftheeventwastogiveGFZBtheopportunitytoinform,aswellasmakeahighimpact impression, particularly among the press, prospective Free Zone subscribers,stakeholders, policy makers, and the general public about its functions, services, goals,achievements&challenges,andthewayforward.TheorganizationoftheopendayeventgavetheGFZBtheopportunitytoshowcaseitselfandoperating Free Zone Enterprises to the public through media discussions, documentaries,conferencepresentationsanddialogue.Thenewinteractivewebsitewasalsolaunched.TherewasanexhibitiontoalsoshowcaseproductsoftheFreeZoneenterprises,atouroftheTemaEPZenclaveaswellasvisit toselectedsingle factorycompanieswasalsobroadcastedonthelocalTV.TheopendayeventconcludedwithagrandBanquetatMovenpickAmbassadorHotelwhich presented a platform for bringing together top government officials, key regulators,
GhanafreezoneBoard
AnnualReport201117
diplomatic missions, free zone operators, corporate heads of international and local firms,potentialinvestors,andthemedia.3.2.7DocumentaryTheBoardalsoproducedadocumentarytotellthesuccessstoryoftheFreeZonesprogrammeduringtheopendayevent.ThedocumentarytooktheformoftestimonialsfromHeadsofFreeZoneEnterpriseswhotestifiedontheincentivesthattheGhanaFreeZonesofferandhowithasaided their business. Some of the Free Zone Companies who gave testimonials wereCommodityProcessingIndustry(CPI),GoldenExotics,RedSeaHousingServicesLimited,CargillGhanaLimited,BlueSkiesproducts,HasanInvestments.3.2.8PublicityAttention given to the Ghana Free Zones Boardwas unprecedented during the year. This ismainly due to organization of the openday event and awell-managed relationshipwith themediabythedepartmentTheBoardwasfeaturedinthefollowingmagazinesandnewspapers;
• TheGhanaReport2011Edition• SmartPeopleMagazine2011,Vol.2• AgooMagazine,4thEdition2011,Vol.10• GlobalTraderbyBritishChamberMagazine2011Edition• TheCommonwealthYearbook2011Edition• GhanaBusinessandFinance,September-October20111ssue009• TheChronicle,August2011Vol.20No.155• DailyDispatch,August2011Vol.29No.1• TheEnquirer,August2011Vol.13No.0751,No.083No.090,pg8-9• TheNewGhanaianVoice,August2011Vol.2Edition008/2010• TheBusinessAnalyst,August2011,Vol.No.67,68• EconomyTimes,August2011.Et0064• TheCitizen,August2011,pg7• TheGhanaianTimes,September2011,pg27issueNo.156,130,679,0855-1502• DailyGraphic,August2011,Issueno.18607,18601,18613• TheDemocrat,August2011• DailyGuide• DailyPost,August2011,pg6-7,Vol.1IssueNo.509• TheInformer,August2011No.442• TheSpectator• AfricaWatchMagazine,2011Edition• BusinessWeekMagazine,2011Edition• Al-Hajj,August2011,vol.1No.59• BusinessEnquirer,August2011Vol.13No.087• TheMirror,FemaleFZEnterpreneur,feature
GhanafreezoneBoard
AnnualReport201118
Alsothereweresometelevisionandradiopublicationssuchas;
• GhanaTelevision(GTV)(MorningShow,TVAnnouncements)• RadioGold,(MorningShow,LPMS,PrimeTimeBusinessSegment)• PeaceFM(MorningShow,Interview,PrimeTimeBusinessSegment)• TV3(BusinessAdvocate,BreakfastShow,TVAnnouncements)• CitiFM• AsempaFM(DriveTime)• JoyFM(MorningShow,PrimeTimeBusinessSegment)• AdomFM• OmanFM• Atlantis• HotRadio(NewsCoverage)• SunnyFM• TVAfrica(TVAnnouncements)• Net2• ETV(NewsCoverage)• Skyy(NewsCoverage)
ThenewdocumentarywasalsoairedonMetroTV,TV3andTVAfrica
Fromtheabovepublicationsmadebeforeandduringtheopendayevent,itisevidentthattheBoard was given extensive attention by the media and thus was able to market the Boardeffectively to the Ghanaian public. As a result of the open day event, and advertisementenquiriesforthelocalinvestmenthassoaredsignificantly.
The Board also advertised in the Presidential Dairy 2012. The Department also producedcorporate dairies for the year 2012 and distributed to stakeholders, GhanaMissions AbroadandselectedagenciesthattheBoardcameintocontactwithduringtheyear.
3.2.9EnquiriesDuringtheperiod,over800enquirieswerereceivedexcludingtelephonecallsandemails.Thedepartment gave guidance and support to investors who purchased application forms. Itassistedinsomecaseswithregistrationofthebusiness,securingprovisionalpermitsfromEPA,andothergovernmentalagenciesand tracked theentireapplication.Someapplicationsweresuccessfulbutotherswerenot.Thedepartmentprovidedinformationorrequesttoacademiaforresearchpurposes.Selectednon-governmentalorganizationsalsovisitedthesecretariatforinformationonthefreezonesforpolicyplanningpurposes.
GhanafreezoneBoard
AnnualReport201119
The department also adapted a different approach to responding to emails. Emails wererespondedto immediatelyand insomecases followupwithofficialswhowerechargedwithcertaintaskstoenabletheSecretariatbuilditsimagebybeingmoreresponsive.3.2.10InvestorAftercareThe Department during the year under review did not have a routine schedule for investoraftercare. It is hoped that itwould liaise better in 2012with theMonitoring Department toorganize investor aftercare services to exiting Free Zones Enterprises and also organize astakeholderforum.3.2.11WayforwardFortheyear2012thedepartmentwouldhaveto
• DevelopaneffectivesystemofsolvingproblemsfacingtheFreeZonesEnterprises.• RedesignandupdateinformationontheeconomyinthecurrentGFZBbrochure• ProduceadocumentaryonGhanatobettermarketGhanaasaconducive investment
location• Organisea FreeZonesexhibition tomarket theBoard,educate thepublic andattract
morelocalenterprisesintotheFreeZones.• Instigateaneffectivecollaborationwiththemonitoringdepartmenttovisitlicensedfree
zonesenterprisesandensurethattheyareoperatingsmoothly.• Plan for the organization of yearly focus groupmeetings with heads of licensed free
zonesenterprisesandotherrevenueagencies.
3.3 PROJECTEVALUATIONANDLICENSINGDIVISION
The Ghana Free Zones Board received thirty one (31) new applications from prospectiveinvestorsandhadabacklogoffive(5)applicationsfrom2010whichbroughtthetotalnumberof applications for consideration to thirty six (36). Out of this number the Board approvedtwentyfour(24),declinedsevenandfivearependingforconsideration.
3.3.1ApprovedApplicationsThelicensedcompaniesweremadeupofone(1)fromtheservicesectorrepresenting4.17%,one(1) forenclavedevelopment(4.17%)andtwenty-two(22) fromthemanufacturingsectorrepresenting(91.66%).Thuscomparingthenumberofapplicationsapprovedin2011to2010,thenumberincreasedby4representing20%increment.
GhanafreezoneBoard
AnnualReport201120
Details of the approved companies and their respective sectors /subsectors are attached asAppendixI.
3.3.2DeclinedApplicationsTheBoarddeclinedfour(4)applicationsforreasonthatthenatureofthecompanies’activitieswouldposeachallengeandtheBoardwouldnotbeabletomonitortheiractivitieseffectivelyto ensure that they comply with the Free Zones Act. The other three (3) were declined forreasonsthatoneofthecompany’sapplicationdidnotreflectthenatureofbusinessitintendedto engage in, the other company would not provide the needed employment and the lastcompany’sMOUsubmittedasevidenceofexportwasnotconvincing.
3.3.3PendingApplicationsTherearefive(5)applicationspendingforconsideration.Thecompaniesandtheirnatureofbusinessareasfollows:Table1.1
NameofCompany NatureofbusinessNsawamCanneryLLC Canningoffruitsandvegetables
LindraSeafoodLtd ManufacturingofcannedtunaGCResourcesLtd ProcessingofcocoahuskintopostashSustainableBiomassSolutionsGh.Ltd ProcessingofwoodwasteintobriquetteAfiaPetroleumResourcesLtd Processingofcrudeoilintopetroleum
products
3.4 ESTATE&ENCLAVEDEVELOPMENTDEPARTMENT
SectorDistribugon
ServiceSector
EnclaveDevelopment
manufacturingsector
GhanafreezoneBoard
AnnualReport201121
TheEstate&EnclaveDevelopmentDepartmentismandatedtospearheadtheBoard’sleadingstrategy of developing declared sites for free zone operations into enclaves and industrialparks.ThisDepartmenthasitskeyfunctionsasthefollowing:
1. PlanningandmonitoringofinfrastructuredevelopmentprojectstoupgradetheBoard’senclavestoworldclassindustrialestatesforinvestmentgrowth.
2. Coordination of utility supplies and services to ensure maximum productivity byoperators.
3. Enforcementofestatedevelopmentandproductionstandardstoensuregoodindustrialharmonyandenvironmentalsafety.
4. ManagementofBoard’sproperty-Secretariatbuilding,equipmentservicing(airconditioners,fireextinguishersetc)
3.4.1ExportProcessingZonesThenumberofdeclaredFreeZonesEnclavesstillstandsatfour(4);
• TemaExportProcessingZone(EPZ)• SekondiEPZ• ShamaEPZ• AshantiEPZ
3.4.1.1TemaExportProcessingZone
Ø Occupancy
The current occupancy of the Tema EPZ/MPIP is Forty five (45). The detail breakdown isattachedasAppendixII.
Ø InfrastructureDevelopment
v Water/ElectricityConnectionsDuringtheperiodofreporting,theunder listedcompanieswithintheMultipurposeIndustrialPark(MPIP)appliedforwaterandelectricityconnectionstotheirpremises.TheDepartmentduly liaisewith theGhanaWaterCompany Ltd (Tema)andGRIDCo/VRA/AVHermonLtdtoconnectthemtotheutilities.Thecompanieswere;
• NicheCocoaProcessingLtd• TopIndustriesGhanaLtd• VehradLtd• OctoglowLtd• SanbaoPharmaceuticalLtd• LewadisLtd• CometGhana
GhanafreezoneBoard
AnnualReport201122
• Polypet
Three (3 ) other companies i.e. CommoditiesProcessing Industries Ltd,GCBioChemicals Ltdand BearMachines Ltdwhich are all locatedwithin the former Business Focus Ltd area andwereonthePrampramElectricityCompanyofGhanaFeeder (domestic)wereallmigratedtothepermanentTEPZpowerfeeders.
v ConstructionOfFenceWallThe contract for the Construction of part of the Security fence wall at the TEPZ/MPIP wassatisfactorydone.ThoughtheBoardfundedtheconstructionofpartsofthesecurityfencewallthere is the other side (ILDC) area where the entire old fence wall has collapsed. There isthereforetheneedtoconstructtheothersidetomaketheTEPZ/MPIPfullyenclosed.
v ResurveyOfMPIPLandOn the directives of the Board, the Department worked closely with a Land Surveyor toresurveythewholeoftheMPIPlandandthesizeoftheindividuallandfortenants.Adraftnewsiteplanhasbeensubmitted,showingthewelldemarcatedareasofalltenants
v WaterImprovementAtTEPZ/MPIPDuring the year under review, the Department together with Messrs SAL Consult Ltd, theConsultantshiredby theWorldBank/MSMEprojecton theaboveproject,metwithoneMr.Ben Adjei, whose land the Board intends to acquire for the development of water boosterstationnear theTemaendof theMotorway.Following the failureofMr.Adjei tovoluntarilyreleasetheland,theDepartmentincollaborationwiththeLegalDepartmentgeneratedalettertoLandsCommissionforcompulsoryacquisition.
Meanwhile,theBoardandtheMSME(MOTI)hasstartednegotiationswiththelandownerforpossibleamicablereleaseoftheland.
v GeneralWaterSupplyToTEPZ/MPIPBetweenJanuary–March,2011theTEPZ/MPIPexperiencedperiodicshortageofwatersupply,duetothebreakdownoffacilitiesattheKpongHeadwaterWorks.The situation, however improved significantly since April-May due to the good workingrelationshipbetweentheDepartmentandGhanaWaterCompanyatTema.
Ø OtherActivitiesv RemovalNotices(IllegalOccupants)
InMay,2011,anejectionnoticewasissuedtoanumberofillegaloccupantsatthefrontageoftheTemaEPZ/MPIP,topavewayforitsdevelopment.TheDepartmentwiththeassistanceofKponeDivisionalPolicesupervisetheejectionofallsuchsquatters.
v FireOutbreakDuringthelatterpartoftheyear,theTemaExportProcessingZoneAdministrativeBlock(RedSeaBuilding)caughtfire;itwastheTopflooroftheblock(prefabricatedblock).Themeterand
GhanafreezoneBoard
AnnualReport201123
allelectricalcablestotheareaweredestroyedaswellassomepanelsandceilingmaterials.Inthemeantime,electricitysupplytotheblockhasbeencutoff.RedSeaHousingLtdhasbeenrequestedtosubmitestimatesfortherepairsforthebuilding.
v LandscapingAtTEPZEntranceThecontractfortheDrillingofaBoreholeattheentranceoftheTemaExportProcessingZonehasbeensatisfactorycompleted.
v SecurityToboostupsecurityattheTEPZ/MPIP,theBoardontherecommendationoftheDepartmentprocuredabrandnewTataPick-upfortheKponeDivisionalPoliceforenclavepatrolduties.
v OutstandingPaymentOfPremiumForLandTheDepartmentinconsultationwiththeAccountsandLegalDepartmentcompiledthelistofalldebtors in relation to land allocation at the MPIP. Defaulters were written to settle theirindebtedness.
Ø Visitsv EDIFManagement
Management of EDIF visited the TEPZ/MPIP during the period of reporting. The visit was toenable them have a firsthand information on part of the Storm Drain, the Agency will beprovidingfundforconstruction.ItisworthmentioningthatEDIFisfundingtheconstructionofthefirstphaseoftheinternalstormdrain.
v WorldBankTeamA three man delegation from theWorld Bank-Accra andWashington office led by Mr. KofiBoatengAgyenvisitedtheTEPZ.
v TogoFreezoneAdelegationfromTogoFreezonevisitedtheTEPZ/MPIPduringtheperiodunderreview.Thevisit was to enable them have a firsthand information on our activities at the Free zonesEnclave.
v VisitToTEPZByThePressAs part of the 15th Open Day celebration of the Ghana Free Zones Board, the Departmentconducteda cross sectionofPressmen to theTemaEPZ.Among the companies visitedwereCargillGhanaLtd,RedSeaHousingLtdandLucky1888.
3.4.1.2SekondiEPZInFebruary2011,topexecutivesofHasanInt.GroupfromChinavisitedtheSekondiEPZ.TheHasanInt.GroupisthestrategicinvestorswhohavebeenlicensedbytheGFZBtodeveloptheSekondiEPZ.During thevisitof theExecutives, they interactedwith thechiefsandpeopleof
GhanafreezoneBoard
AnnualReport201124
theprojectcatchmentareaandinteractedwiththepresstooutlinetheirvisionandstrategyforthe development of the enclave. Meanwhile, Hasan Investments Gh. Ltd has engaged anEnvironmentalconsultanttoundertaketheenvironmentalassessmentontheland.3.4.2TemaCommunity21ResidentialLandDuringthe latterpartofthereportingyear, theDepartmentheldseriesofmeetingswiththeGhanaPolice (Community21) and theTemaDevelopmentCorporation (TDC)on the issueofejectingallexistingillegal/encroachersontheaboveland.LettersweresenttoTDC,AshaimanMunicipalandthePolicetothateffect.TheDepartmentisworkingwithaprivateSurveyortoproperly identifyanddemarcateallboundariesoftheCommunity21land,toensurethatanydemolitionwillbeconfinedtoourassignedarea.Meanwhile,theDepartmentvisitedthelandwith Chinese investors who have expressed interest to develop the land. During the periodunder review, the Department collaborated with a Land Evaluator to value the TemaCommunity21land.3.4.3RenovationWorksAtTheSecretariatThe renovation works at the Secretariat was completed during the year under review. Itinvolves re-roofing of parts of the building, tilling of all offices, fixing of new doors andwindows,curtainblinds,ceilingandpaintingoftheentireSecretariat.Othersare, landscapingaswellasnewpavementblocksforpartsofthecompound.
3.5MONITORINGDEPARTMENT
TheMonitoringDepartmentcontinueditswatchdogroleofensuringcompliancebyfreezoneenterprises and developers of the rules and regulations as stipulated in the Free Zones Act1995,Act504andRegulations(L.I1618).Inpursuanceofthisrole,thedepartmentundertookvariousactivitiesfortheyear2011ofwhichthemajoronesareasfollows:
3.5.1MonitoringVisitsToLicensedCompaniesIn theperiod, a total numberof eightyone (81) licensed companieswere visited tomonitortheiroperationsandalsoensurethat,theyconformtotheFreeZonesActandRegulations.Thespecificpurposesofthesevisitswereasfollows:
Ø ToauthenticatetheappropriatedocumentssupportingthequarterlyreturnssenttotheBoard.
Ø To ascertain the level of compliance by licensed companies, with the rules andregulationsgoverningtheiroperations.
Ø To seek justification for exemption applications submitted by various licensedcompanies and to authenticate the usage of the items for which the request forexemptionweremade.
Ø To identify and assist in addressing any operational difficulties facing licensedcompanies.
GhanafreezoneBoard
AnnualReport201125
Inthecourseofthesevisits,operatorswereeducatedontheFreeZonesActandRegulationsandwereadvisedanddirectedastohowtoconducttheiroperationsinordernottoinfringeonthelaws.
Someshortfallsweredetectedinthebooksofsomecompaniesaswellassomeinfractionsofthe law and recommendations were made in the monthly reports for consideration by theBoard’sCommitteeonMonitoring.Theseledtosanctioningofsomecompanies.
Monitoring exercises revealed that, some licensed companieswere found to have exemptedthemselves frompayingappropriate taxeswithout theuseof theappropriateGFZBForm9s.SuchdefaultingcompaniesweremadetopayforthecostoftheseForm9sandinsomecasesmadetopayappropriatepenalties.
The monitoring officers in all cases educated these companies on their obligation to useappropriateGFZBForm9tocoverallformsoftransactions.
3.5.2CollaborationwithOtherFrontLineAgenciesThedepartment continuedwith its collaborativeworkwithother front line agencies such asGhana Revenue Authority (Customs and Domestic Tax Division) and National TechnicalMonitoring Committee (NTMC) The department shared information continuously with theseagenciesespeciallyCustomsandNTMContheoperationsoflicensedcompanies.
One Officer of the department, who is a member of the National Technical MonitoringCommittee, collaborated with the Committee to conduct financial audit in some selectedcompanies in the Greater Accra Regions for the period. Various findings were made withregardstoshortcollectionsandinfractionsofthelawandreportswereissuedtotheHeadsofvariousfrontlineagenciesforappropriateremedialactionstobetaken.
3.5.3DepartmentStaffStrengthandTrainingOver the past years, there has been conscious effort to augment the staff strength of thedepartmentandfortheperiod,twoOfficerswereemployedtoaugmentthemonitoringroleofthedepartmenthoweveroneofthemhadtoleavetheorganisationtofurtherhiseducationinthelatterpartoftheyear.
The three monitoring teams which were constituted in the previous year were operationalduring the period to enhance and fast-track the work of the department. The departmentconducted in-house training for the entire monitoring officers to be abreast with theirresponsibilities in a way and manner to conduct monitoring exercises and also monitoringofficerswereintroducedtoanewformatforreporting.
Duringthisperiod,Officerswereassignedtothevariouscompaniestoberesponsibleforthemintermsofcompliance.
GhanafreezoneBoard
AnnualReport201126
3.5.4RevenueGenerationMeasuresDue to the strict enforcement of the penalties and sanctions spelt out in the Act 504 andRegulationL.I1618,andotheroperationalmeasuresgeared towards the increase in revenuebasefortheBoard,thedepartmentwasabletorealizedsubstantialamountfortheBoardbeingsanctionsandpenaltiesplacedoncompanieswhodidnotcomplywiththeregulations.
3.5.5WayForwardThedepartmenthasscheduledtohaveatrainingseminarforalltheFreeZonesenterprisesforthefirsthalfofyear2012onhowtofilethequarterlyreturnsandotherresponsibilities.
3.6OPERATIONALAUDITDEPARTMENT
TheDepartmentwassetupinJanuary2011.ThepurposeoftheDepartmentwastostrengthenthe capacity building of the Board by ensuring compliance of the free zone enterprises anddevelopersasenshrinedinsection3(e)oftheFreeZonesAct,1955(Act504).
Thefollowingactivitieswerecarriedoutduringtheyear:
• SystemsReviewanddocumentingthesystem• DrawingupofOperationalAuditplansandstrategies• DevelopmentofOperationalAuditmanual• Designedinternaltrainingprogrammeforstaff.
3.6.1InternalTrainingThe Department organized an internal training programme for staff of the monitoringDepartment.Keytopicsdiscussedatthetrainingincludedthefollowing.
• ElementsofOperationalAudit• DistinctionbetweenmonitoringandOperationalAudit• RegulatoryframeworkofFreeZoneEnterprises• EthicalrequirementsofOperationalandMonitoringofficers.• StepstoemployintheauditandreviewofoperationsofFreeZonesEnterprises• InternalControlQuestionnaire• Casestudies
3.6.2OnSiteAuditsThesecondtofourthquartersoftheyearwasdevotedforonsiteOperationalaudits.Atotalof40FreeZonesEnterpriseswerevisited.AppendixVdetailscompaniesvisitedaccordingtoregionalclassification.
GhanafreezoneBoard
AnnualReport201127
3.6.3ConcernsThefollowingconcernsweregenerallynotedduringtheOperationalaudits.
• NonfilingofannualreturnswiththeRegistrarofcompanies• WithholdingtaxeswerenotheldandpaidtotheRevenueAgencies• PrudentialReturnstothesecretariatwerenotgenerallyreliable• Business/Corporateplansobjectiveswerenotmet.
3.7INFORMATIONTECHNOLOGYDEPARTMENT
TheInformationTechnologyDepartmentoftheGhanaFreeZonesBoardcontinuedperformingitskeyroleofprovidingefficienttechnicalsupporttoallstaff.Othermajoractivitiesthathavetakenplacefromthebeginningoftheyearinclude:
• RegularlyupdatingtheGFZBwebsite• UpdatingoftheFreeZoneEnterprises’database• Managingtheinternetconnectivityandoperatingthecorporateemailsystem• OperatingtheGCNetSystem• Ensuringdatasecurityandbackingupofimportantdata• Managingthenetworkinfrastructure
3.7.1HardwareTheDataCentreattheSecretariatwhichhasbeeninplaceforthreeyearswasgivenafacelift.TheharddrivesandRAMofallfiveserverswereupgradedfrom72GBand1GBto250GBand4GBrespectively.Thishasimprovedthecapacityoftheserversdrastically.
Contract has been awarded for the procurement of new computers, printers and otheraccessoriesforstaff.SupplyoftheitemswouldbedoneinearlyJanuary2012.
3.7.2SoftwareFouroftheservershavebeenrebuiltwithinstallationofWindowsServer2008.Inaddition,awebdrivenapplicationdatabasehasbeendevelopedfortheSecretariat.Withthedevelopmentofthenewdatabase,theITdepartmentensuresthatdataiscapturedontimelybasistoproviderealtimeinformationonfreezoneinvestors.
3.7.3NetworkInfrastructureAnationwidee-GovernmenttelecommunicationinfrastructureforGhanawasextendedtotheSecretariatduringthelastquarteroftheyearbytheNationalInformationTechnologyAgency(NITA). Theproposed infrastructurewouldextend thenationalbackbone infrastructure toalldistrictsinthecountryandprovideanationaldatacentreandasecondarydatacentrefacilityfor disaster recovery capability, and ultimately connect all public institutions andMDAs andMMDAstoasinglesharedcommunicationsandcomputinginfrastructuretofacilitateeffectivedelivery of government services to citizens, businesses and others. The network is also
GhanafreezoneBoard
AnnualReport201128
expected toprovide a single secure gateway to the internet and implement services such asaccesscontrol,spamfiltering,firewallsandanti-virusdefencesforthegovernmentnetworkasawholeandbetweentheindividualMDAsasmayberequired.3.7.4OperationOfTheGCNetTheoperationoftheGCNetsystemwasverysmoothformostpartoftheyear.Ontheaverageabouttwenty-five(25)exemptionsaregrantedthroughtheGCNetsysteminaday.3.7.5GFZBWebPortalIn linewith the e-Government policywhere allMDAs are to conform to the government ofGhana domain name standards (ie. gov.gh for all MDA), a new domain name has beenregisteredfortheBoardwithGhanaDotComcompany.Thedomainnameisgfzb.gov.ghAcontracttorevamptheGFZBwebsitewasawardedlaterpartofyear2010.TheITdepartmentin collaboration with the Marketing department ensured that the project was executedsuccessfully.Thewebportalwhichwouldbeusedtopromotetheactivitiesof theBoardandattractpotentialexportorientedenterprisestoGhanaundertheFreeZoneActwas launchedduringtheGFZBOpenDaypressconferenceinAugust2011.Thewebportalwouldalsoserveasa one-stop-shop for inquires and a source of useful information about Ghana Fee Zonesprogramme as well as ability to submit Free Zone Enterprise (FZE) applications on-line. Theportalwouldalso facilitate the issuanceof electronic formsand theelectronic submissionofapplications for licensebyFZEswishing toundertakevariousbusiness transactions.Again,allcircularsfromtheBoardtotheFreeZoneEnterprisesshallbemadeavailableonlineandcouldbeaccessedthroughthewebportal.
All Free Zone Enterprises shall be trained to use the Portal to submit their quarterly returnsonline.
3.7.6WayForward
Recent trends show thatmajority of organizations are redefiningmarketing by incorporatingmobile marketing techniques into their marketing campaign strategy, simply because itprovideshighrateofreadability.ItisinthisdirectionthattheITdepartmentproposesthattheBoardutilizestheBulkSMStechnologytosendtextmessagestoFreeZoneEnterprises.
ItisthehopeofthedepartmenttoapplythestateofthearttechnologytodrivethebusinessoperationsoftheBoard.
3.8LEGALDEPARTMENT
TheLegalDepartmentduringtheyearunderreviewperformeditscorefunctionsof:
1. OfferinglegalcounseltotheBoardandSecretariat
GhanafreezoneBoard
AnnualReport201129
2. ProsecutinganddefendingallsuitsonbehalfoftheBoardwithassistancefromtheAttorneyGeneral’sDepartment.
3. Dealing and answering requests from licensed free zone companies and thegeneralpublicforitsopiniononcertainsectionsoftheFreeZonesAct,1995(Act504).
4. DraftinglegaldocumentssuchasSub-Leases.5. ConductinglegalresearchfortheBoardandtheSecretariat
3.8.1LandMatters
Ø LitigationDuringtheyearunderreview,theBoardtogetherwiththeAttorneyGeneralwasservedwithawrit issuedbytheEjisuTraditionalCouncil fromtheKumasiHighCourt (CommercialDivision)for payment of compensation due on land earmarked for the Ashanti Technology Park. Thedepartment liaisedwith theAttorneyGeneral’sDepartmentandensured that theBoardwaswellrepresentedinthesuit.
Ø Community21,TemaA Court of Appeal decision, adjudging the Board owner of Community 21, has not beensufficient todeter illegalscattersandtrespassers fromencroachmentof the land.TheBoard,during the year under review liaised with the Security Agencies in its bid to stop theencroachment.
3.8.2WayForwardThe Legal Department would seek to deepen its collaboration with the Security Agencies,particularly thePoliceService toensure that thearmedtrespassers inoccupationofanyoftheBoard’slandbanksarearrestedandprosecutedunderthePublicLands((Protection)Act,1974(N.R.C.D.240).
4.0DATAANALYSIS
4.1INVESTMENTCAPITALSCHEDULE
ThetotalcapitalinvestmentmadebylicensedFreeZoneEnterprisesduringtheyearamountedto US$224.64 million an increase of 5.8% over the 2010 figure of US$212.33 million. Thecumulativeamountofinvestmentcapitalinthefreezonessinceinceptionoftheprogrammein1996/97totheendof2011nowstandsatUS$2,156.92million(refertoappendixvi)
GhanafreezoneBoard
AnnualReport201130
4.2PRODUCTIONSCHEDULEOFMANUFACTURINGANDSERVICEENTERPRISES
Theex-factoryvalueofproductionforFreeZoneEnterprisesinthemanufacturingandservicesectorduringtheyearamountedtoUS$1,195.67millionrepresentinga10.03%decreaseoverthe2010figureofUS$1,329.00million(Refertoappendixvii)
4.3IMPORTSCHEDULEOFCOMMERCIALENTERPRISES
CommercialFreeZoneEnterprisesimportedsemi-finishedandfinishedgoodsatatotalvalueofUS$71,675,211.25 for re-packaging and re-export to the ECOWAS region and beyond. Thisrepresentsan increaseof114%overthepreviousyear’sfigureofUS$33,387,984.98 (RefertoAppendixVIII.)
4.4EXPORTSCHEDULEOFALLENTERPRISES
Total ex-factory value of exports of all Free Zone Enterprises (manufacturing, Service andCommercial) amounted toUS$1,966.72million representing an increase of16.35% over the2010figureofUS$1,690.70million(RefertoAppendixIX)
4.5EMPLOYMENTSCHEDULEOFALLENTERPRISES
Themost important contribution of the Free Zones Programme to the economyofGhana isemployment creation. At the end of the reporting year, the employment figure ofGhanaiannationalsemployedbytheFreeZoneEnterprisesreached29,216.Thisrepresentsan increaseof16.36%overthe2010figureof25,109
Thedistributionofnationalemployeesaccordingtogenderindicatesthat22,808i.e78.07%weremalewhereas6,408i.e.21.93%werefemale.
ThenumberofexpatriatesemployedbyFreeZoneEnterpriseswas864representing2.87%oftotalemployment.ThetotalemploymentgeneratedbytheFreeZonesProgrammeasat2011was30,080(RefertoAppendixX).
DistributionofemployeesintheFreeZonesProgrammebysectorisshowninthetablebelow:
Table
Sector NumberemployedDeveloper 16Manufacturing 27,970Service 1,596Commercial 498
GhanafreezoneBoard
AnnualReport201131
4.6SALARY/WAGESCHEDULEOFALLENTERPRISESThefreezonesprogrammecontributesgreatlyintheeconomicempowermentoftheGhanaianworkforce.Totalvalueofsalary/wagesfor2011amountedtoUS$94,583,775.00anincreaseof7.62%overthe2010figureofUS$87,888,997.31'The total salary/wage paid to Ghanaian Nationals working with Free Zone EnterprisesamountedtoUS$71,758,676.00.This representsan increaseof5.44%over the2010valueofUS$68,057,840.41. Expatriates working under the free zones programme earnedUS$22,825,099.00(RefertoAppendixXI).
4.7VAT/DUTIESPAIDONSALESINTOTHEDOMESTIC/LOCALMARKET
Total duties/levies paid on sales into the local market amounted to US$4,927,029.13representinganincreaseofabout96%onthepreviousyear’sfigureofUS$2,511,097.16(RefertoAppendixXII)
4.8TRAININGSCHEDULEOFALLENTERPRISES(GHANAIANNATIONALS)
Under the free zone regulations at least 1%of the total annual salary/wagebill of free zonecompaniesshouldbespentonthetrainingofGhanaiannationalsemployedinthecompanies.In 2011, a total amount of US$1,123,994.02 was spent on training national employeesrepresenting 1.5% of the total salary wage bill indicated above. Even though the minimumrequirement was achieved, only 71 Free Zone Enterprises actually offered training to theiremployees.(Ref.AppendixXIII)
TheBoardneedstotakestepsintheensuingyeartoensurethatmoretrainingprogrammesareimplementedforGhanaianstaffworkingunderthefreezones.
4.9SOCIALSECURITYSCHEDULEOFFREEZONEEMPLOYEES
In 2011,127 Free Zone Enterprises contributed a total ofUS$9,394,538.79 in Social SecuritycontributionstotheSocialSecurityandNationalInsuranceTrust.(Ref.AppendixXIV)4.10INCOMETAXSCHEDULEOFFREEZONEEMPLOYEESInthereportingyear,128companiescontributedatotalofUS$12,240,997.89inIncomeTaxinrespectoftheiremployees.(Ref.AppendixXV)
GhanafreezoneBoard
AnnualReport201132
5.0FINANCIALREVIEW
ThefinancialpositionoftheBoardasat31stDecember2011isasfollows:
5.1REVENUE
Total income generated in 2011was SevenMillion, FourHundred and Thirty-One Thousand,Five Hundred and Thirty-Four Ghana Cedis (GH¢7,431,534) as against Five Million, EightHundred and Ten Thousand, One Hundred and Ninety-Nine Ghana Cedis (GH¢5,810,199) in2010.Thisrepresentsa28%increaseoverrevenuegeneratedin2010.Theincreasewasmainlydue to levies and penalties on companies who do not comply with the board operationalregulations,increasedsalesofForms,LicenseFeesandrenewals.
5.2EXPENDITURE
Totalexpenditurein2011amountedtoFourMillion,Sixty-ThreeThousand,Twenty-OneGhanaCedis(GH¢4,063,021)asagainstThreeMillion,EightHundredandTwenty-oneThousand,FourHundred and Seventy-Six Ghana Cedis (GH¢3,821,476) in 2010. The marginal increase inexpenditurewasmainlyduetoincreaseinadministrative&otherexpenses.
Excess incomeover expenditurewasThreemillion, ThreeHundredand Sixty-Eight thousand,FiveHundredandFourteenGhanaCedis (GH¢3,368,514) in2011asagainstOnemillion,NineHundred Hundred and Eighty-Eight Thousand, Seven Hundred and Twenty-Two Ghana Cedis(GH¢1,988,722)in2010.
TheAuditedAccountsisattachedasAppendixXVI.
6.0CONSTRAINTS
There was still no physical development at the three (3) designated enclaves in Boankra,SekondiandShamathusaffectingtheBoard’sabilitytoattractinvestorsintotheseenclaves.
TheunreliablesupplyofutilitiesalsoaffectedtheoperationsoflicensedFreeZoneenterprises.The Board faced a major challenge in this respect, especially with regard to the companieslocatedintheTemaExportProcessingZone.
Furthermore, the Marketing/Promotion Division could not implement all its scheduledinvestment promotion missions due to lack of funding. The Department could also notimplementactivitiesintheMarketingCommunicationPlanduringtheyear.
TherewasdelayintheimplementationoftheManagementInformationSystemtosupporttheoperationsoftheBoard.
GhanafreezoneBoard
AnnualReport201133
ThecommunicationsnetworkinfrastructuremadeofLocalAreaNetworks(LANs)andinterfacesforaWideAreaNetworks (WAN)throughwhichvarioususersgainaccesstothe InformationSystems of the GFZB were under-utilized. Most users hardly used the corporate email forcorrespondence.
Another major challenge was converting andmerging three separate databases on licensedFreeZonecompanies intoonecentralizeddatabase (i.e.FZMS).With theassistanceofPersolSystems Limited, the contracted software developers, the IT Department was somewhatsuccessfulinthedatatransfer.
Again,therewereconstraintsinimprovingtheoperationalenvironmentattheTemaEPZwithregardto:
§ Arrangingwithoperatorsandhawkerstoprovideanduselitterbinsandorganiserefusecollection.
§ Landscapingimprovementaroundtheentrance,§ EnsuringpropermaintenanceofvergelawnsplantedbyILDCandPSI.§ Monitoringproperlocationofdirectionalsignsbyoperatorssoastoavoidclutter.§ Failureofcontractorstomeetthedeadlinesforthecompletionofprojects§ Peoplewithoutpermitsmanagingtoaccesstheenclavewhichposesthreattosecurity
attheenclave.Also,theSecretariatfacedthechallengeofnothavingaclearLegislativeInstrumentonvariouspenaltypointstobeappliedwheneverFreeZonesenterprisesfailtocomplywiththerulesandregulationsmakingitverydifficulttoapplythenecessarysanctions.
Again, the inability of the Board to raise the requisite funds for payment of compensationassessedbyLandsCommissiononlandbanksmakestheBoardpredisposedtosuitsinstitutedbyclaimants.
TheBoardwasalsoconfrontedwithillegallyarmedoccupants(landguards)onitsCommunity21 land.Thisposedaserious threatofbodilyharmtoofficers, representativesandagentsoftheBoard,whomayinthecourseofexecutionoftheirduties,havetophysicallyworkontheland.
7.0CONCLUDINGREMARKS
SubstantialprogresswasmadeintheimplementationoftheFreezonesProgrammeduringtheyearunderreviewinspiteoftheconstraints.Theboardwilladoptinternationalbestpracticesandstrategiesofattractingbothdomesticandinternational
GhanafreezoneBoard
AnnualReport201134
Appendices
AppendixI-FreeZoneEnterprisesLicensedIn2011
NAMEOFCOMPANY NATIONALITY SECTOR/SUBSECTORVegproGhanaLtd British/Kenyan Manufacturing
(Commercialfarming,horticulturalcrops)HasanInvestmentGhanaLtd Chinese Developer
(SekondiExportProcessingZone)EntranceIndustriesGhanaLtd Ghanaian Manufacturing(Pharmaceuticalproducts)PBC–SheaLtd Ghanaian Manufacturing(sheabutter)
AirLiquideAfricaServicesLtd French Manufacturing(medicalandindustrialgases)
UnifruitLtd Ghanaian Manufacturing(processingpineapple)ServairGhanaCompanyLtd Ghanaian/
FrenchService(Airlinecateringandrelatedservices)
WorldClothingCompanyLtd American Manufacturing(Garmentmanufacturing)KimminicOilLtd Ghanaian Manufacturing(CrudeVegetableOilInto
biodiesel)ShebuIndustriesLtd Ghanaian/Dutch Manufacturing(Sheanutintosheabutter)
BlackstarFoodsLtd Ghanaian Manufacturing(processingcashewnuts)
StarlightWestAfricaNaturalResourcesLtd
French Manufacturing(Processingnaturalplantsproducts)
AbellonCleanenergyGhanaLtd Indian Manufacturing(woodpelletsandsolidbiofuel)
TakoradiRenewableEnergyLtd French/Ivorian Manufacturing(woodchips)CCTRopesandTwines Ghanaian Manufacturing(Ropesandtwines)RiderSteelGhanaLtd Chinese Manufacturing(steelproducts)WadAfricanFoodsLtd Ghanaian Manufacturing(FruitProcessing)CanadaOpticalLaboratoriesLtd British-Canadian Manufacturing(opticallenses)S.F.InternationalCommodityCo.Ltd
Chinese Manufacturing(colouredsteelproducts)
AgronaCompanyLtd Dutch Manufacturing(fruitProcessing)EcologisticsLtd Ghanaian-Italian Manufacturing(palmoilprocessing)ChidwellLtd British Manufacturing(bulkfragrance
compounds)GhanaOilPalmDevelopmentCompanyLtd
Ghanaian-Belgian
Manufacturing(Palmoilprocessing)
GNFoodsLtd Ghanaian-Chinese
Manufacturing(tomatopaste)
GhanafreezoneBoard
AnnualReport201135
AppendixII-OccupancyatTemaEPZ/MPIPin2011
NO.
NAMEOFCOMPANY
ACTIVITY/PRODUCT
STATUS
1 3FGHANALIMITED PROCESSINGOFSHEANUTSANDOTHEROILSEEDS
OPERATING
2 BARRYCALLEBAUT COCOAPROCESSING OPERATING
3 BEARMACHINESW/ALIMITED MANUFACTURE OF FOOD PROCESSINGMACHINE/EQUIPMENT
TESTRUN
4 CARGILLGHANALIMITED COCOAPROCESSING OPERATING
5 COMMODITY PROCESSINGINDUSTRIESLTD.
COCOAPROCESSING OPERATING
6 DECORPLASTLIMITED HOUSEHOLDPLASTICWARE TEST TRIAL OFEQUIPMENTS
7 DISCTRONIC MANUFACTURINGLIMITED
DVD,VCD,CDSMANUFACTURING SUSPENDEDOPERATIONS
8 G.C.BIOCHEMICALSLTD CHEMICAL EXTRACTION FROM MED.PLANTS
STARTUP
9 GHANA SPECIALTY FATSINDUSTRIESLTD
SHEABUTTERPROCESING OPERATING
10 HUFRA-COMPU-TECHSLTD MACHINERY&MECHANICAL PRECISIONPARTS
OPERATIONSUSPENDED
11 GLOBALGARMENTS GARMENT OPERATIONSUSPENDED
12 PREMIERQUALITYLTD GARMENT OPERATIONSUSPENDED
13 LUCKY1888 GARMENT OPERATING
14 REDSEAHOUSINGSERVICES(GH)LTD
PREFABRICATEDBUILDING OPERATING
15 SITOSGHLTD WAREHOUSING/COMMERCIAL OPERATING
16 ILDC ENCLAVEDEVPT OPERATING
17 OCTOGLOWGHANALIMITED ENCLAVEDEVPT OPERATING
18 NICHIECOCOAINDUSTRIESLTD PROCESSINGOFCOCOALIQUOR OPERATING
GhanafreezoneBoard
AnnualReport201136
19 REBECCAFASHION MANUFACTURING OF SYNTHETIC HAIRPRODUCTS
OPERATING
20 B.DASSOCIATES
COCOAPROCESSING TEST TRIAL OFEQUIPMENTS
21. A-Z PETROLEUM PRODUCTSGHANALTD
LUBRICANTSANDTANKFARMING PROCESSINGLANDDOCUMENTS
22. MINISTRYOFCOMMUNICATION ICT PROCESSINGLANDDOCUMENTS
23. SANBAOPHARMACEUTICALSLTD PHARMACEUTICALS BUILDINGFACTORY
24. XARADEVELOPERSGH.LTD. PROCESSINGLANDDOCUMENTS
25. BLOWPACKLIMITED MANUFACTURING TAKE AWAYCONTAINER
PROCESSINGLANDDOCUMENTS
26. COMMODITIES PROCESSINGINDUSTRIESLTD
COCOAPROCESSING OPERATING
27.
TOPINDUSTRIESLTD. PLASTICANDPACKAGINGPRODUCTS OPERATING
28. ONEGHANALOGISTICSLTD. MANUFACTURING PACKAGINGCURTAINS
PROCESSINGLANDDOCUMENTS
29. VEHRADTRANSPORTLTD. HAULAGE/LOGISTICS/FREIGHTHANDLING
BUILDINGFACTORY
30. SIKELELELTD. HEALTHPRODUCTS BUILDINGFACTORY
31. LEWADIS
COMMERCIAL BUILDINGFACTORY
32.
HOMEFOODSLTD. FOODPROCESSING PROCESSINGLANDDOCUMENTS
33. ALPHACOMMODITIESLTD. COCOAPROCESSING PROCESSINGLANDDOCUMENTS
34. POLYPETLTD. PLASTICPRODUCTS PROCESSINGLAND
GhanafreezoneBoard
AnnualReport201137
DOCUMENTS35. KGMINDUSTRIES PLASTICHOUSEHOLDWARES PROCESSING
LANDDOCUMENTS
36. COMETGHANALTD WAREHOUSING BUILDINGFACTORY
37. ARVNASHINDUSTRIESLTD. FURNITURE PROCESSINGLANDDOCUMENTS
38. ELARLTD. FLEXIBLEPACKAGINGMATERIALS PROCESSINGLANDDOCUMENTS
39. UNIWELLLTD PROCESSINGLANDDOCUMENTS
40. RIDGEENERGY PROCESSINGLANDDOCUMENTS
41. ELECTROABOUSAMRACOLTD GENERAL ELECTRICAL REWINDINGMOTORSANDGENERATORS
PROCESSINGLANDDOCUMENTS
42. POTRODOMINTPVT EXPORTATIONOFCASHEWNETS,SHEARNUTSETC
PROCESSINGLANDDOCUMENTS
43. SUCCESSPLASTICSLTD MANUFACTURE AND TRADE INHOUSEHOLDPLASTICPACKING
PROCESSINGLANDDOCUMENTS
44. MARSINTERNATIONAL
PROVISION OF INNOVATIVE RECORDSMANAGEMENT
PROCESSINGLANDDOCUMENTS
45. AFRIC-AMERICAN TRADEX CO.LTD
FOODPROCESSING SUSPENDEDOPERATION
46.
S.F INTERNATIONALCOMMODITYCO.LTD
COLOUREDSTEELTILES BUILDINGFACTORY
47.
RAILIT TOTAL TRANSPORTATIONGH.LTD
WAREHOUSINGOFANTIVIRALDRUGS OPERATING
GhanafreezoneBoard
AnnualReport201138
MPIPOCCUPANCY
COMPANYNAME TYPEOFACTIVITY OPERATIONALSTATUS
1. XARA DEVELOPERS GH.LTD.
PROCESSING LANDDOCUMENTS
2. BLOWPACKLTD MANUFACTURING TAKE AWAYCONTAINERS
PROCESSING LANDDOCUMENTS
3. NICHECOCOALTD PROCESSINGOFCOCOALIQUOR
TEST-TRIALOFEQUIPMENTS
4. TOPINDUSTRIESLTD PLASTIC AND PACKAGINGPRODUCTS
OPERATING
5.
ONE GHANA LOGISTICSLTD
MANUFACTURING PACKAGINGCURTAINS
BUILDINGWAREHOUSE
6.
VEHRADTRANSPORTLTD HAULAGE/LOGISTICS/FREIGHTHANDLING
BUILDINGWAREHOUSE
7.
SIKELELELTD HEALTHPRODUCTS BUILDINGFACTORY
8. RIDGEENERGY PROCESSING LANDDOCUMENTS
9.
COMETGHANALTD WAREHOUSING BUILDINGFACTORY
10. LEWADIS WAREHOUSING BUILDINGFACTORY
11. HOMEFOODS FOODPROCESSING PROCESSINGDOCUMENTS
12. AVNASHINDUSTRIESLTD FURNITURE BUILDINGFACTORY
13.
ALPHACOMMODITIESLTD COCOAPROCESSING PROCESSING LANDDOCUMENTS
14. POLYPETLTD PLASTICPRODUCTS PROCESSING LANDDOCUMENTS
15. ELARLTD FLEXIBLEPACKAGINGMATERIALS PROCESSING LANDDOCUMENTS
GhanafreezoneBoard
AnnualReport201139
BUFFERZONE
COMPANYNAME TYPEOFACTIVITY OPERATIONALSTATUS
1. UNIWELL PROCESSING LANDDOCUMENTS
2. A-Z PETROLEUMPRODUCTSGHANALTD
LUBRICANTS AND TANKFARMING
PROCESSING LANDDOCUMENTS
3. ELECTROABOUSAMRACOLTD
GENERAL ELECTRICALREWINDING MOTORS ANDGENERATORS
PROCESSING LANDDOCUMENTS
4. POTRODOMINTPVT EXPORTATIONOFCASHEWNETS,SHEARNUTSETC
PROCESSING LANDDOCUMENTS
5. SUCCESSPLASTICSLTD MANUFACTURE AND TRADE INHOUSEHOLDPLASTICPACKING
PROCESSING LANDDOCUMENTS
6. MARSINTERNATIONAL
PROVISION OF INNOVATIVERECORDSMANAGEMENT
PROCESSING LANDDOCUMENTS
7.
IMEXCOINVESTMENTS WAREHOUSING PROCESSING LANDDOCUMENTS
16. KGMINDUSTRIES PLASTICHOUSEHOLDWARES PROCESSING LANDDOCUMENTS
17. SANBAOPHARMACEUTICALSLTD
PHARMACEUTICALS BUILDINGFACTORY
18. LUCKY1888 GARMENTS OPERATING
19. GLOBALGARMENTS GARMENTS OPERATING
20. PREMIERQUALITYLTD GARMENTS SUSPENDEDOPERATIONS
21. OAKBROOKLTD GARMENTS SUSPENDEDOPERATIONS
GhanafreezoneBoard
AnnualReport201140
8. FNJINVESTMENTS TANKFARMS PROCESSING LANDDOCUMENTS
AppendixIII–ListofcompaniesvisitedforOperationalAuditin2011(a) ACCRA/TEMA1. BomartFarms(b)WESTERNREGION2. DanicaPlastics3. HomeFoodsLtd1.Wienco4. Gravita2.Samartex5. ArrowNetwork3.UnicontrolCommodities6. Socomex4.JohnBitar7. NewrestCatering5.MondialVenner8. Lewadis9. FlemingoInternational10. RedSeaHousing11. F.AFally12. ARNManufacturing13. SitosCommodities14. VehradImports&Exports15. IntelligentCardProduction16. Pakmart17. NonFerrousMetals18. AsanskaJewellery19. L’oreal20. PraiseExports21. AirLiquideServices22. Busylab23. Interpack24. E-processInternational25. GoldRecovery26. GhanaFlowers27. SterlingInternational28. MyrocFoodProcessing29. MahobHoldings30. KponeLobsters31. ContinentalExports32. Lubcon33. 3F(GH)Ltd34. EdwardSnell
GhanafreezoneBoard
AnnualReport201141
AppendixIV-CapitalInvestedByFreeZoneEnterprises2011
AppendixV–CostofProductionOfEnterprises2011
0.00
20.00
40.00
60.00
80.00
100.00
120.00
COMMERCIAL MANUFACTURING SERVICE DEVELOPER
6.28
102.23114.25
1.88
AMOUNT(US$M)
SECTOR
CAPITALINVESTEDBYSECTORS-2011
-
200.00
400.00
600.00
800.00
1,000.00
1,200.00
COMMERCIAL MANUFACTURING SERVICE DEVELOPER
2.31
1,156.58
30.46 6.31AMOUNT(US$M)
SECTOR
COSTOFPRODUCTIONBYSECTORS-2011
GhanafreezoneBoard
AnnualReport201142
AppendixVI-ImportScheduleOfFreeZoneEnterprises2011
AppendixVII-ExportScheduleOfAllFreeZoneEnterprises2011
-
50.00
100.00
150.00
200.00
250.00
300.00
COMMERCIAL MANUFACTURING SERVICE DEVELOPER
71.68
283.98
24.65
71.68
AMOUNT(US$M)
SECTOR
IMPORTSSCHEDULEBYSECTORS-2011
-200.00400.00600.00800.00
1,000.001,200.001,400.001,600.001,800.00
COMMERCIAL MANUFACTURING SERVICE
64.09
1,795.42
99.53AMOUNT(US$M)
SECTORS
VALUEOFEXPORTSBYSECTORS-2011
GhanafreezoneBoard
AnnualReport201143
AppendixVIII–EmploymentScheduleofFreeZoneEnterprises2011
AppendixIX-Salary/WageScheduleOfFreeZoneEnterprises2011
0
5000
10000
15000
20000
25000
30000
Developer Manufacturing Service Commercial
16
27,970
1,596 498NO.EMPLOYED
SECTOR
EMPLOYMENTDISTRIBUTIONBYSECTORS-2011
0.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
80.00
COMMERCIAL MANUFACTURING SERVICE DEVELOPER
5.78
71.80
16.29
0.09AMOUNT(US$M)
SECTOR
SALARY/WAGESCHEDULEBYSECTORS:2011
GhanafreezoneBoard
AnnualReport201144
AppendixX-Vat/DutiesPaidOnLocalSalesByFreeZoneEnterprises2011
AppendixXI-TrainingScheduleOfFreeZoneEmployees(GhanaianNationals)2011
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
COMMERCIAL MANUFACTURING SERVICE
1.55
3.30
0.08AMOUNT(US$M)
SECTOR
VAT/DUTIESPAIDONLOCALSALESBYSECTOR-2011
-100,000200,000300,000400,000500,000600,000700,000800,000900,000
1,000,000
COMMERCIAL MANUFACTURING SERVICE
75,169
974,095
149,899
AMOUNT(US$)
SECTORS
TRAININGCOSTBYSECTOR-2011
GhanafreezoneBoard
AnnualReport201145
AppendixXII-SocialSecurityScheduleOfEmployeesOfFreeZoneEnterprise2011
AppendixXIII-IncomeTaxScheduleOfFreeZoneEmployees2011
0.001.002.003.004.005.006.007.008.00
COMMERCIAL MANUFACTURING SERVICE DEVELOPER
0.15
7.94
1.440.01AM
OUNT(US$M)
SECTOR
SOCIALSECURITYCONTRIBUTIONBYSECTOR-2011
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
COMMERCIAL MANUFACTURING SERVICE DEVELOPER
0.32
7.70
4.20
0.02AMOUNT(US$M)
SECTOR
INCOMETAXPAIDBYSECTOR-2011
GhanafreezoneBoard
AnnualReport201146
AppendixXIV-AuditedAccounts
GhanafreezoneBoard
AnnualReport201147
GhanafreezoneBoard
AnnualReport201148
GhanafreezoneBoard
AnnualReport201149
GhanafreezoneBoard
AnnualReport201150
GhanafreezoneBoard
AnnualReport201151
GhanafreezoneBoard
AnnualReport201152
GhanafreezoneBoard
AnnualReport201153
GhanafreezoneBoard
AnnualReport201154
GhanafreezoneBoard
AnnualReport201155
GhanafreezoneBoard
AnnualReport201156
GhanafreezoneBoard
AnnualReport201157
GhanafreezoneBoard
AnnualReport201158
GhanafreezoneBoard
AnnualReport201159
GhanafreezoneBoard
AnnualReport201160
GhanafreezoneBoard
AnnualReport201161
GhanafreezoneBoard
AnnualReport201162