"StockTrack will be a game-changer in BDC financing by banks \u2013 Ghana Association of Bankers"

" StockTrack will be a game-changer in BDC financing by banks \u2013 Ghana Association of Bankers \r\n\r\nChief Executive Officer (CEO) of the Ghana Association of Bankers, John Awuah, has said the deployment of the StockTrack system developed by HFields will be a game-changer in how banks finance bulk oil distribution companies (BDCs) to import petroleum products into the country.\r\n\r\nStockTrack, is a consolidated software tailored specifically for central petroleum stock monitoring and stock-risk management, targeting bulk oil import distribution and export Companies (BIDECs), the nation\u2019s refinery supply chain, petroleum service providers (PSPs), international oil traders (IOTs), financiers and the National Petroleum Authority (NPA), among others.\r\n\r\nCore functionalities and benefits of the system collectively aim to enhance supply chain visibility, mitigate risks, and ensure the security and efficiency of the supply chain process.\r\n\r\nOne of the primary objectives of StockTrack is to provide end-to-end inventory visibility.\r\n\r\nMr Awuah says following engagement with HFields, the association has come to the conclusion that the StockTrack system will give banks full visibility of petroleum product movements within the entire petroleum downstream ecosystem.\r\n\r\nThis, he says, will enable the banks to recoup monies lent to BDCs.\r\n\r\n\u201cWhen [HFields] engaged the banks, what they said they are trying to do is to give the banks visibility on product movement and exposure,\u201d Mr. Awuah posited.\r\n\r\n\u201cSo at any point in time, as product is moving from a tank into another tank storage, that movement is recorded on a system and it's approved at the right levels and the banks have pure visibility in the entire process and can follow the product from tank to the OMC to cash and back to the BDC and then to the bank,\" he added.\r\n\r\nAccording to Mr Awuah, the StockTrack system as has been explained by HFields, could significantly help reduce BDC defaults.\r\n\r\n\u201cThis can really help reduce the impairment risks of banks. If this system works the way it is designed, it will be a game changer for how banks finance the BDCs,\u201d he said.\r\n\r\n\u201cIf there is an infrastructure that consolidates and gives pure visibility to all players in the chain, it helps the BDCs, it helps the bank, it helps NPA and it helps the OMCs as well and banks can then lend safely to the BDCs,\" he noted.\r\n\r\nStockTrack\u2019s design is centered around optimizing stock risk management for financiers.\r\n\r\nBy providing a clear and detailed overview of stock levels and movements, the system helps de-risk the funding of BIDECs and refinery supply chains.\r\n\r\nThis, in turn, increases financier confidence, making credit more accessible and sustainable, according HFields.\r\n\r\nIn an industry where financing is often contingent on perceived risk levels, such transparency can significantly improve funding conditions and promote more robust financial health for the sector."

"StockTrack will be a game-changer in BDC financing by banks \u2013 Ghana Association of Bankers"

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