The Ghana Shippers’ Authority (GSA) has intensified moves to enforce the Bank of Ghana (BoG) foreign exchange directives across the country’s ports as part of efforts to streamline trade operations and ensure compliance with the nation’s financial regulations.
Working in collaboration with the central bank, the GSA aims to identify service providers applying their own exchange rates instead of the BoG-approved rate, a practice that undermines transparency and increases costs for shippers.
It follows a notice issued by the BoG issued in July this year demanding that all shipping lines publish their forex rates and abide by recommended rates prescribed by the central bank.
Despite repeated reminders, a number of service providers continue to flout the directives.
Speaking at a breakfast meeting attended by senior executives from major import and export firms in Accra, the Chief Executive Officer of the Authority, Prof. Ransford Gyampo, assured that the authority would take the appropriate steps to crack the whip under the new law which prohibit imposition of unapproved charges.
“Section 36 of the Ghana Shippers’ Authority Act, 2024 (Act 1122) prohibits the imposition of unapproved charges. This is an important safeguard for the business community, and I encourage every shipper to report any such charges so we can act swiftly to protect your interests,” he said.
The meeting
The meeting was part of the GSA’s ongoing efforts to strengthen collaboration with industry players and address operational challenges faced by shippers in the southern zone.
The GSA team was led by its CEO, and included Deputy CEOs (Technical Services), Asana Owu and Deputy CEO (Operations), Henry Ankrah. Key departmental heads such as Head of Freight and Logistics, Fred Asiedu-Dartey; Head of Shipper Services and Trade Facilitation Monicah Josiah; and Zonal Head at Eastern Zone, Charles Sey.
The meeting drew strong representation from major players across the shipping, logistics, and manufacturing sectors, including Ghacem, Diamond Cement, Labianca Company Limited, Forewin Ghana, Toyota Ghana, Japan Motors, Wilmar Africa, Nestlé Ghana, and Newmont Ghana, among others.
Legal mandate
The CEO stressed that the authority now has the legal mandate under its new law to impose strict sanctions on offenders to restore order and protect the business community.
Prof. Gyampo added that the GSA’s renewed enforcement efforts would ensure fairness, uniformity, and consistency in billing across the shipping industry.
“We are working closely with the Central Bank to ensure uniformity in exchange rate applications by shipping service providers to bring fairness and consistency in billing,” he said.
Fundamental reset
Prof Gyampo stated that the new Act 1122 marks a fundamental reset of the regulatory structure of Ghana’s shipping industry.
He said the new law gives the GSA clearer powers to check arbitrary charges by shipping service providers, while empowering shippers to lodge complaints for binding and enforceable resolutions.
Professor Gyampo also highlighted the development of minimum service standards to guide fair dealings in the industry and announced that the first phase of the Boankra Integrated Logistics Terminal was 85 per cent complete.
“Once fully operational, Boankra will significantly ease the movement of cargo between the middle belt, northern Ghana, and transit countries,” he said.
Urging shippers to register with the GSA as required by law, he explained that registration would help to maintain a reliable database to anticipate disruptions and respond promptly.
Participants concerns
The meeting created an opportunity for participants to voice their concerns over arbitrary charges by shipping lines, unclear timelines for demurrage, slow processes at the Ghana Ports and Harbours Authority (GPHA), and the conduct of some consolidators who delay cargo release even after payments.
Other issues included delays in processing Bills of Entry (BOEs) by the Ghana Revenue Authority (GRA) and glitches in the Integrated Customs Management System (ICUMS), which sometimes lead to additional demurrage costs. Some participants, however, acknowledged modest improvements from recent system upgrades.
