Chief Executive of the Ghana Shippers Authority, Professor Ransford Gyampo, has raised concerns about some international shipping lines operating in Ghana using their own “arbitrary” exchange rates, rather than the official rate set by the Bank of Ghana.
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Speaking on The Key Points on TV3 on Saturday, July 12, Prof. Gyampo said the Authority had completed investigations into the issue and forwarded its findings to the Bank of Ghana for action.
“Some shipping lines are using their own arbitrary exchange rate,” he revealed. “We have done all the investigations and given our findings to the Bank of Ghana. Hopefully, we will all meet and look at this.”
He stressed the need for these companies to comply with Ghana’s regulatory frameworks, urging that all foreign and local players must respect national laws.
Prof. Gyampo also highlighted resistance from some international shipping lines toward government efforts to regulate the sector. However, he assured the public that a legislative instrument (LI) is in the works to establish clearer rules for operations.
“We are bringing an LI that will regulate the sector. We have a right to make our laws, not to antagonize anybody but to ensure sanity,” he added.
The professor lamented the high cost of doing business in Ghana, attributing some of it to inflated charges and inefficiencies by certain service providers. He warned that this trend could push local businesses to relocate to more competitive markets in the subregion.
“This situation is pushing some businesses to consider moving to other countries where the cost of doing business is lower,” he stated.
The Ghana Shippers Authority’s move aligns with broader government efforts to ensure transparency and fairness in the shipping industry, and to create a more competitive and predictable environment for local businesses.
