1. It Affects Everyone
All players in the shipping industry operating in Ghana must comply, no exceptions.
2. You Must Publish Your Daily Exchange Rate
Shipping companies are now required to publish the daily exchange rates used for invoicing on their websites and/or at their offices.
3. Customers Must Know the Rate Before Paying
The exchange rate must be clearly communicated to customers before invoices are issued or payments are made.
4. Every Invoice Must Show These 4 Key Details
Invoices should state:
- The currency of the service
- The exchange rate applied
- The date it was applied
- The final amount in GHS or USD
5. Rates Must Reflect Market Reality
Exchange rates must not be arbitrarily set, they should mirror commercial bank rates, which should align with the Bank of Ghana’s interbank rate.
6. There’s a Complaint Channel
If customers disagree with the rate applied, they can lodge a formal complaint with the service provider first.
7. Escalate Disputes to the GSA If Needed
If the issue isn’t resolved, customers can escalate it to the Ghana Shippers’ Authority for redress.
8. The Law Still Applies
All actions must comply with the Foreign Exchange Act, 2006 (Act 723) and related regulatory notices.
9. There Are Consequences for Non-Compliance
Failure to follow the guidelines could lead to administrative sanctions.
10. It’s Already in Effect
These guidelines took effect on July 22, 2025, and will remain in place unless amended or revoked by the Bank of Ghana.
