The Ghana Union of Traders Association (GUTA) says consumers should expect significant reductions in the prices of goods if government succeeds in addressing high shipping charges at the ports.
According to the traders, exorbitant shipping fees remain a critical factor driving prices on the market, undermining their competitiveness against neighbouring West African countries.
Speaking in an interview, GUTA’s 1st Vice President, Clement Boateng, applauded recent government interventions to align shipping charges with regional benchmarks.
“This is not fair and it has to stop. That is why we fully back the action by President John Mahama,” Mr. Boateng stated.
President John Mahama directed Transport Minister Joseph Bukari Nikpe and Attorney-General Dr. Dominic Ayine to take immediate steps to tackle unauthorised shipping charges at Ghana’s ports, following mounting complaints from businesses over unapproved fees.
Mr. Boateng described the President’s action as “prudent and in the right direction,” revealing that most shipping lines charge higher rates for Ghana-bound goods compared to Togo, Benin, Ivory Coast, and Nigeria.
Traders reduce prices amid cedi gains
Meanwhile, GUTA says traders have initiated a second wave of price reductions on the back of the cedi’s sustained appreciation. Spare parts dealers, in particular, have cut prices of items that previously sold at GH₵1,500 to around GH₵1,200.
“I can promise you that when you go to the market, you will realize that items have gone down in line with our promise to adjust prices from July this year,” Mr. Boateng assured.
He urged consumers to intensify price comparisons to push traders to reduce prices even further.
Mr. Boateng also rejected claims that locally-owned businesses are refusing to adjust prices despite recent cedi gains, emphasising that traders remain responsive to economic realities to support consumers.
