The Ghana Institute of Procurement and Supply (GIPS) has called for the implementation of effective Electronic Procurement Systems for both private and government institutions in the country.

Mr. Vincent Laryea Mensah, GIPS Administrator revealed in an interview with the Ghana News Agency on the sidelines of an event organized by the YAFO Institute in Accra that the electronic procurement systems would be convenient for Ghana as far as procurement and supply were concerned.

Mr. Mensah said when Ghana rolls out effective E-Procurement Systems, situations where prices of goods and services are overpriced will be a thing of the past.

According to the GIPS, it was time the country took advantage of the block chain innovations to cure the various financial leakages associated with procurement and supply, saying the country could make more gains without seeking financial bailouts from external institutions.

Mr. Mensah called on the National Communication Authority (NCA) through the Ministry of Communication to ensure the various telecommunication companies upgraded their internet services to ensure value for money.

He called on the government to expedite action on the Procurement Practicing Bill currently in Parliament to save the country from financial misappropriations.

Mr. Peter Edem Adetor, Team Leader for the African Continental Free Trade Area (AFCTA) on Small and Medium-Scale Enterprise (SME) stated that African countries needed to trade among themselves to create the enabling environment for trade prospects.

He said the available data showed that only 18 percent of African countries traded amongst themselves, a situation he described as unfortunate.

Mr. Adetor hinted that modern technologies have made trading seamless and effective, saying stakeholders needed to intensify education on trading, both within and outside the shores of Ghana.

Mr. Adetor advised prospective businesses to thoroughly investigate and understand the various blockchain innovations before they subscribe to ensure safer and seamless transactions. It is beneficial to trade with block chains.