GUTA Criticises Government’s Local Cargo Insurance Directive Over Lack of Stakeholder Consultation
The Ghana Union of Traders Association (GUTA) has criticised the government’s decision to roll out a local cargo insurance directive, describing the move as unilateral and lacking adequate stakeholder consultation.
In a statement dated January 28, 2026, and signed by its Secretary-General, Richard Amamoo, the association raised concerns over the compulsory nature of the directive, arguing that mandating businesses to procure insurance services locally without broad-based engagement undermines confidence in the policy.
According to GUTA, the directive imposes additional obligations on traders at a time when many businesses are already grappling with high operating costs. The association also questioned the readiness of local insurance companies to assume such responsibilities, citing issues of limited competitiveness, capacity constraints, and track record.
GUTA further cautioned against penalising businesses that fail to comply with the directive, noting that it would be unfair to sanction traders when local insurers may not yet have the expertise or financial strength to effectively manage cargo insurance risks.
The association has therefore called on the National Insurance Commission and other relevant regulatory authorities to suspend the implementation of the directive and initiate broader consultations with key stakeholders to address the concerns raised and ensure a more inclusive policy framework.
