Ghana Shippers Authority Vows Enforcement of New BoG FX Guidelines for Shipping Lines
The Ghana Shippers Authority (GSA) has issued a stern warning to shipping lines operating at the country’s ports, stating it will impose sanctions on firms that fail to comply with new foreign exchange guidelines issued by the Bank of Ghana (BoG).
The directive, effective July 22, 2025, compels shipping lines to publicly disclose their forex rates and adhere strictly to central bank-prescribed rates in all port-related transactions. The move follows sustained lobbying by the GSA, which has raised concerns over arbitrary and unregulated foreign exchange charges imposed on importers and exporters.
Speaking to JoyBusiness on the sidelines of the GSA board inauguration, the Authority’s Chief Executive, Professor Ransford Gyampo, said the guidelines were a critical step toward restoring price transparency and predictability in the country’s maritime logistics sector.
“Now that we have issued a petition and we’ve got support, we’ll be sure that it is critically enforced, and the BoG has clearly indicated that there will be sanctions against shipping lines that refuse to comply,” Prof. Gyampo said.
The development comes amid growing pressure on the government to stabilise the cedi and address structural inefficiencies contributing to high logistics costs. President John Mahama has directed relevant agencies to ensure the ports become more cost-effective in support of Ghana’s broader economic competitiveness agenda.
“The government is doing all it can to stabilise and strengthen the currency to bring down the cost of doing business,” Prof. Gyampo added.
The BoG guidelines, according to officials, were issued following extensive consultations with key industry stakeholders. They are designed to align foreign exchange pricing with established regulatory frameworks while reducing exploitative practices by shipping lines.
Industry players have in recent months flagged inconsistent forex benchmarks used by shipping lines, arguing that such practices inflate the cost of clearing goods and distort market pricing.
In response, Prof. Gyampo indicated the GSA is open to exploring additional reforms, including the potential introduction of a flat rate mechanism that could allow businesses to plan shipping and freight transactions with greater certainty.
“We are open to discussions on a flat rate that would bring predictability to the system for exporters and importers,” he noted.
The central bank’s directive marks the latest intervention in a broader regulatory tightening of Ghana’s shipping and logistics space, as authorities seek to enhance transparency, cut transaction costs, and attract more investment into the trade facilitation ecosystem.
