Exporters in Ghana are set to benefit from a wave of government-backed reforms aimed at removing long-standing trade bottlenecks and enhancing the country’s global competitiveness.
Speaking at the FirstBank and African IES Exporters Forum held in Accra, Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, announced bold steps to eliminate weekend demurrage charges fees she labelled as “unfair penalties” on exporters for delays beyond their control.
“We understand your frustration regarding demurrage fees incurred when ports are closed, in collaboration with the Ministry of Transport and the Ghana Ports and Harbours Authority (GPHA), we are reviewing these policies. Exporters should not be penalized for systemic delays beyond their control,” the Minister said.
Demurrage charges, especially those incurred over weekends when ports are not operational, have long been a sore point for exporters. Industry stakeholders argue that such costs undermine trade efficiency and erode profit margins. The government’s planned policy shift signals a win for Ghanaian exporters, aligning port operations more closely with business realities.
Beyond port delays, the Minister also addressed a critical issue affecting trade predictability and exchange rate inconsistencies. Exporters have raised concerns about the use of arbitrary foreign exchange (FX) rates at ports, which they say introduces pricing volatility and complicates financial planning.
“Concerns about inconsistent exchange rates used in trade-related transactions are being addressed with the Bank of Ghana and financial institutions. Our goal is to ensure greater transparency, predictability, and fairness to enable better planning,” Ofosu-Adjare noted.
The Exporters Forum served as a high-level platform to discuss structural reforms needed to unlock Ghana’s export potential. It brought together key players in trade, finance, and policymaking, all united around a shared goal: making Ghana a formidable player in global commerce.
FirstBank Managing Director, Victor Yaw Asante, highlighted the evolving role of commercial banks in supporting export-led growth. While access to credit remains important, he argued that banking support must go beyond financing.
“Sometimes people overemphasize credit, although it is probably key. But there are a whole lot of other things that are crucial when it comes to exports documentation, for example, advisory services, and letters of credit and this is where banks come in,” Asante said.
As Ghana accelerates efforts to industrialize and expand its export base, these policy adjustments are expected to reduce operational friction, build trader confidence, and position the country as a more reliable and cost-efficient export hub in the West African sub-region.
The forum concluded with calls for continued collaboration between government agencies, financial institutions, and the private sector to address trade-related challenges and foster an ecosystem conducive to export growth.
