Ghana is said to lose over GHC 5.7 billion to fake and counterfeit goods every year, that is coming from the PanAvest International and Partners.

According to Professor Douglas Boateng of PanAvest International and Partners, there is a need for the government to enact a law to purposely deal with this unpleasant situation.

He believes this phenomenon is rife due to the absence of stringent laws to deal with the menace which is accounting for accounting for five to seven per cent of world trade.

Prof Boateng bemoaned the ever growing negative and devastating impact of counterfeiting and piracy on business and industry, workers, economy as well the image and reputation of the country.

He further said these activities has negative impact on the Ghanaian consumer and called for appropriate remedial action to be initiated.

Managing Director of WASP, Grant Webber also called on consumers to be very vigilant when buying HP printers and toners.

He noted that, HP has introduced security seals on its products which include QR codes that can be authenticated using a smartphone app and tamper-evident features.

“We firmly believe that W.A.SP Ltd is your partner of choice, especially given our market leadership with similar transformational projects already concluded here in Ghana" he added.