Monitoring of Currency Transfers and Repatriations: Webb Fontaine in charge of the GUCEG project and the BCRG make a progress assessment

A strategic meeting was held on Friday, May 6 in Conakry between officials of the Guichet Unique du Commerce Exterieure de Guinee (GUCEG) and those of the Central Bank of the Republic of Guinea (BCRG). The objective of this meeting was to review the progress of the effective implementation of the monitoring module of foreign exchange transfers and repatriations, instituted last February by the transitional authorities.    

These new GUCEG functionalities are tools that now allow the BCRG to have statistics on the volume of foreign currency needed to import goods and the volume expected for export. This visibility allows the BCRG to make a good management of the flow of currencies in Guinea.     

“Today, it is important to strengthen communication with banks so that they understand the importance of this tool that will allow financial institutions to anticipate the need for foreign currency for import and make projections of repatriation for export, “said Mohamed Lamine Conté, Vice-Governor of the BCRG. 

“Since the beginning of this project, your teams have been working with us in a friendly environment. Our open-door policy allows us to collaborate in order to achieve our common goals,” said Mamoudou DIANE, General Manager of Webb Fontaine Guinea, in charge of implementing the GUCEG project. 

The platform of the Single Window of Foreign Trade of Guinea as a whole, is a project of reform, modernization, simplification and security of all operations related to foreign trade. This measure was implemented by the Webb Fontaine Group, a world leader in the field.