The Bank of Ghana (BoG) has issued a directive requiring all shipping lines, terminal operators, freight forwarders, and other port service providers to publicly display the daily foreign exchange (FX) rates they use for billing.
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Effective Tuesday, July 22, 2025, these entities must publish their applicable rates either on their official websites or visibly at their business premises. They are also required to inform customers of the applied exchange rate prior to invoicing.
The directive, issued under new FX application guidelines for the shipping sector, is intended to promote transparency, consistency, and accountability in pricing.
The BoG emphasized that all rates used must reflect market conditions and not be arbitrarily set.
Each invoice must clearly show:
- The currency of service (GHS or USD),
- The applicable exchange rate,
- The date of application, and
- The final payable amount.
To resolve disputes over FX rates, customers must first file complaints with the service provider. If unresolved, the matter can be escalated to the Ghana Shippers’ Authority (GSA) for further action.
The BoG warned that failure to comply with the guidelines could lead to administrative sanctions, citing the Foreign Exchange Act, 2006 (Act 723) as the legal basis for enforcement. The guidelines will remain in effect until further notice.
