GHANA INTERNATIONAL BANK PUBLIC LIMITED COMPANY
Company number: 03468216
Reporting period:
1 January 2025 to 30 June 2025
Report filed on:
31 July 2025
Approved by:
Raymond J.B. Sambou
Payment statistics
Average time taken to pay invoices: 5 days
Total value paid:
- within 30 days: £7,841,889 (93%)
- in 31 to 60 days: £377,126 (4%)
- in 61 days or more: £253,400 (3%)
Invoices paid:
- within 30 days: 93%
- in 31 to 60 days: 4%
- in 61 days or more: 3%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £630,526
- payments due in the reporting period which have not been paid within the agreed period: 6%
- not made in the reporting period due to a dispute: 1%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Suppliers must be paid in accordance with contract terms. The Bank follows good payment practice. The aim is to pay on time and some early to take advantage of discount where applicable. Our interpretation of making payment is when an electronic funds transfer / payment is committed.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Dispute should be raised with Accounts Payable, addressed to Head of Finance. GHIB and the supplier will first attempt to resolve any dispute through informal discussion between the Bank’s relevant head of department and the supplier. If this is unsuccessful the matter is referred internally for formal discussion between an executive of the Bank and the supplier. Should the parties remain unable to resolve the dispute either party, at their discretion may then refer to the matter to court.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No