SEPTEMBER 18 - 24, 2014 T H E V O I C E 27
S h i p p i n g to
Africa
Your guide to prepare for car shipping to Ghana By Kevin Lopez
H
AVING A company like KG Logistics take care of your motor car or van to Ghana is the perfect way to ensure your vehicle gets there in tip-top shape and on time. While they can take care of your car during the journey, it is still best that you undertake some preparation to guarantee the whole process runs smoothly. With the chance of something going wrong in transit likely, there are certain things you can do to minimise the likelihood of damage taking place. The first step is to take stock of the current condition of your vehicle.
By giving it a thorough clean you will be able to uncover any dents or scratches. Recording any damage and photographing the remaining of the car will give you proof of its condition before it was shipped. When having your car shipped to Tema, it will be inspected a number of times to ensure your vehicle isn’t carrying anything it shouldn’t. To minimise the amount of time your car will be inspected, make sure you remove all your personal items. These include CD’s, GPS’s, radio faceplates and portable TV’s. Having removed all extra items, it probably goes without
READY TO GO: A motor vehicle is ready for shipment overseas.
Africans pay the highest remittance fees, says ODI report AFRICANS LIVING abroad pay two times more than people from other continents to send money home, costing them $1.8 billion annually. The money is enough to put 14 million children into schools or to provide safe water for 21 million people. A new report from the Overseas Development Institute (ODI) shows that on average, Africans in the diaspora pay 12 per cent in fees for transfers of $200, almost double the global average. “This remittance super tax is diverting resources that families need to invest in education, health and a better future. Africans living abroad make huge sacrifices to support their families, yet face charges which are indefensible in an age of mobile banking and Internet transfers,” ODI director Kevin Watkins said. The report says there are no signs of charges falling, despite pledges by the G8 and the G20 to reduce the cost of remittances to five per cent by this year. “Diaspora organisations would like to engage governments and regulators to find creative solutions to unlock the true potential of remittances to the region,” said Siddo Deva of Comic Relief which funded the study. The report found that the top 10 remittance transfer charges were in sub-Saharan African countries with Ghanaians sending money, for example, to Nigeria paying as much as 39 per cent in fees. It attributed the high charges to lack of competition with two money transfer operators – Western Union and MoneyGram – controlling almost two-thirds of the remittance market in Africa. The companies operate under ‘exclusivity arrangements’ with agents, which restricts market entry. Financial regulations also contribute to the high charges by giving banks an effective monopoly on remittance payments. ODI researchers estimate that operations involving Western Union and MoneyGram, account for around a third – $586 million – of the loss associated with high remittance charges each year. Western Union charges 9.4 per cent on average on transfers to the region, while MoneyGram charges 10.4 per cent. Remittances to Africa reached $32 billion or two per cent of the domestic economy last year and are projected to grow by more Continued on Page 28
saying that you shouldn’t load your vehicle up with personal effects as a way to transport your luggage when car shipping to Tema. It is also important to remove any property from the boot of your car as items left inside your vehicle will not be insured during transit. During loading and unloading, your car will be driven minimally. However, it is still important that you make sure it is in good mechanical condition. This may include topping up flu-
ids, making sure tire pressure is right and that your battery is fully charge. When it comes to fuel levels, it is best not to have your fuel tank too full. Having your tank at quarter way is the safest option. Before your car is shipped, you should have a clear understanding of your insurance policy and obtain a copy for your own records. This way, if the worst does occur, you have your policy in writing and know exactly what you are covered
for. If your car is extremely valuable, you may want to think about supplemental insurance that will give you further peace of mind. It is good to keep in mind though, that if you are shipping with KG Logistics, they offer full and comprehensive insurance for the journey. Once your vehicle has arrived in Ghana, the final step is to carry out a full inspection to make sure your car arrives in the same condition that you dropped it off in. Once you are
happy that everything is in working order and how you left it, you are free to sign off on delivery and use your vehicle overseas. While the chances of something going wrong in transit are slim, it is still best to carry out comprehensive preparations to ensure everything runs smoothly and both you and the transporter are happy. • KG Logistics is an independent freight forwarding company based in the UK.
28 T H E V O I C E SEPTEMBER 18 - 24, 2014
S h i p p i n g to
Africa
How to take the stress out of moving overseas
R
ESEARCH HAS shown that moving house is one of the most stressful events that can occur during a person’s life. Add to the mix, an international relocation to a new and foreign country often causes stress levels to rise even further. Relocating overseas need not be an unpleasant experience though. Choosing the right International Removals company can take away both the headache and the heartache out of your move. The earlier you get your removal company onboard the more smoothly your move is likely to be. Moving abroad often presents unexpected problems and by using an experienced company that specialises in International Removals early on can help avoid potential issues from cropping up later on down the line. They also know the rules regarding what can and can’t be taken into the country you are moving to and will be able to help
ON THE MOVE: Shipping goods overseas will get busy in the months leading up to Christmas.
you decide what items to take and which ones to leave behind. When it comes to moving, timing is incredibly important and your chosen provider will be looking to do their utmost to ensure that your goods arrive when you want them to. Your selected logistics company will discuss with you the range of transportation services offered and then suggest the best and most economical methods of shipment. The majority of freight forwarding companies offer sea freight, air freight and road freight forwarding services. If you are moving to another continent, there is a strong likelihood that you will be using a Container Shipping service. The cost of using a container is based on the distance the container has to travel and the amount of space that you use. Making the best use of the available space and ensuring that your possessions are well
packaged is essential, as not only does a poorly packed container waste money, but the chances of your goods arriving in less than perfect condition increases. If you are choosing to use a whole container it will probably be loaded at your house and then taken straight to the port. Smaller shipments however will likely go to a warehouse and be loaded as a “part load”. The majority of people moving overseas tend to use sea freight to transport their goods as it often works out to be more cost effective. However, air freight is an option if there are some goods that you really can’t live without. You will, however, need to bear in mind that cost is calculated on both weight and volume and that possessions even when sent by air can take a number of days to reach your new destination.
Nigerian economy ranked highest in Africa
Continued from Page 27
NIGERIA HAS been ranked far ahead of its peers on the continent based on the strength of the country’s macroeconomic indicators, according to new financial indicators. A Lagos-based research and financial advisory firm, Renaissance Capital (RenCap), revealed this in its latest report on subSaharan Africa (SSA) titled: ‘Who’s Hot and Who’s Not’. Other countries assessed in the report were Ghana, Kenya, Rwanda, Tanzania, Zimbabwe and Zambia. Nigeria, in April this year, rebased its gross domestic product (GDP), which saw esti-
than eight per cent annually to 2016. This income is less volatile than foreign direct investments and other private capital flows and directly reaches households, cushioning the impact of external economic shocks. In Somalia, eight in 10 new businesses are funded by remittances, while in Ghana transfers have halved the likelihood of households falling into poverty and improved school attendance. In Ethiopia, remittances have helped families cope with food shortages without having to sell productive assets. The report calls for investigation into whether market concentration artificially raises prices as well as improved transparency in the provision of information on foreign currency conversion.
mates hitting $509.9 billion. Following the rebasing exercise, Nigeria emerged as Africa’s biggest economy and the 26th largest in the world. The RenCap report highlighted the country’s improving external position (9 to 10 months of import cover) and a small fiscal deficit (one to two per cent of GDP), as major factors driving its macroeconomic growth. Moreover, it pointed out that a recovery in the oil sector had led to stronger growth in Nigeria. Accordingly, RenCap revised its growth forecast for the country to 6.3 per cent and 6.5 per cent in 2014 and 2015 respec-
tively, as against its prior forecast of 5.7 per cent and 5.6 per cent. It explained: “Nigeria’s macro (economic fundamentals) stand well ahead of its peers. Yes, elections are almost upon us (February 2015), but we do not think that should detract Nigeria’s otherwise solid macro credentials – especially given our view that the electoral process and outcome will be relatively stable. “Post-elections, we expect interest rate cuts as soon as the second half of 2015, which we think will allow year-on-year credit growth to pick up from current high single-digits to the mid-teens.
Africans pay the highest remittance fees