Growing tensions between Ghanaian regulators and international shipping companies have resurfaced as the Ghana Shippers Authority (GSA) accuses some foreign shipping lines of flouting the Bank of Ghana’s (BoG) official exchange rate directive.
According to the Chief Executive Officer of the Authority, Professor Ransford Gyampo, investigations conducted by the GSA have revealed that certain shipping lines are applying arbitrary exchange rates when billing clients which undermined national monetary policy and increasing the cost of doing business in Ghana.
“We have completed our investigations and shared our findings with the Bank of Ghana,” Professor Gyampo disclosed.
“Some shipping lines are using their own arbitrary exchange rate, and we hope to meet soon with all parties involved to address this issue,” he added.
This development adds a new layer to ongoing frustrations among Ghanaian businesses about the rising cost of shipping and logistics.
However, Professor Gyampo has been vocal in the past about these pressures, warning in February that some businesses are actively considering relocating to more cost-effective countries due to the compounded expenses.
“The cost of doing business in Ghana is very high, there are people charging exorbitantly just to cause delays, leading to demurrage costs. Some businesses are being pushed to the brink and are threatening to move elsewhere,” he reiterated.
Beyond pricing, the GSA boss raised alarm over what he described as a growing resistance to regulatory oversight by certain international actors in the shipping industry.
“Some of these shipping lines don’t want to be regulated, but we’re in the process of introducing a Legislative Instrument (LI) to regulate the sector. Ghana has every right to enact laws that protect its business environment. This is not meant to antagonize, but to ensure fairness and compliance,” he said.
