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Ghana's importation of $45m postage stamps from Malta, here's what we know so far

Ghana Post Company has denied importing postage stamps worth $45m from Malta in 2019.

Ghana Post boss Bice Osei Kufuor

A statement from the public institution said reports that it has imported $45m worth of postage stamps from Malta are false.

A man who describes himself as a teacher in training and journalist known as Loukas Christodoulou in a series of Twitter post on Tuesday, April 5, 2022, asked why Ghana imported $45 million worth of postage stamps from Malta.

He tweeted: "Weird question, I know, but does anyone have any idea why Ghana imports $45m worth of postage stamps from Malta?"

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Loukas backed his claim with an image indicating countries that are major importers of postage stamps from Malta with the source as oec (Observatory Economic Complexity) world, a website that records the importation and exportation of goods by countries all over the world.

He said: "Since Ghana is a major exporter of gold, could this 'import' of certificates actually represent a way of gaining certificates backed by gold? Look at what's listed on the Maltese exchange."

The post on the importation of stamps has left many Ghanaians wondering if the country imports that amount of stamps.

"Ghana! Update from the Malta official statistics office @NSOMALTA

"...the figures are substantial because they include printing of foreign currency and excise stamps. The majority of it is foreign currency though. I understand that there is postage stamps as well included..." it stated.

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Though, he said he hasn't "researched this in any depth", he is aware that both De La Rue and Crane Currency operate out of Malta.

"OK, update! First reply from Malta, from their Enterprise Agency. They write: "While I haven’t researched this in any depth, I am aware that both De La Rue and Crane Currency operate out of Malta, 1/x," Loukas tweeted.

But the Ghana Post, in a sharp response implored the general public to disregard the tweet.

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"As the country’s designated postal operator and the sole institution in charge of postage stamps in the country, we wish to state that the said claim is not true about Ghana Post, as we have not imported any stamp from Malta and therefore implore the general public to dissociate Ghana Post from the said publication," the statement said.

However, statistics from the Observatory of Economic Complexity show that in 2020, Ghana was 73rd economy in the world in terms of GDP, 80th in total exports, 83rd in total imports, 146th economy in terms of GDP per capita and the 120th most complex economy.

It added that the top imports of Ghana are refined petroleum products which cost about $669m, cars $492M, rice $391m, delivery trucks $283m, and coated flat-rolled iron $273m, imported mostly from China $6.75m, the Netherlands $867m, United States $787m, India 749m, and the United Arab Emirates $522m.

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Also in 2020, Ghana was the world's biggest importer of used clothing $182m.

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