The Importers & Exporters Association of Ghana (IEAG) has renewed its call for comprehensive reforms in port operations, stressing that efficiency gains are crucial to boosting trade competitiveness and driving economic growth.

Speaking at the association’s 11th anniversary celebration and the launch of its new website, Executive Secretary Samson Asaki Awingobit warned that persistent delays at Ghana’s ports are weakening the country’s trade position. He noted that some importers now bypass local ports in favour of facilities in neighbouring Togo — with certain goods later smuggled back into Ghana.

Beyond operational inefficiencies, Mr Awingobit highlighted the widening gap between the interbank and black-market exchange rates as a key factor pushing up the prices of goods and services while eroding investor capital.

“We will not continue to fight against port charges alone, but also the hustle to access foreign currencies like the dollar, pound, and euro from commercial banks. Most traders now resort to the black market, where rates are unregulated and volatile,” he said.

He urged the Bank of Ghana (BoG) to introduce a unified forex rate and enforce a transparent, fair distribution system for foreign exchange across banks and licensed forex traders. He also called on the government to address high interest rates so businesses can secure affordable financing for expansion.

BoG Governor Dr Johnson Asiama has acknowledged the concerns and pledged to work toward lowering interest rates in line with easing inflation and exchange-rate pressures. While the association welcomed this commitment, it maintained that pragmatic policies, coordinated reforms, and political will are essential to transforming port operations and avoiding a potential trade crisis.

Delivering the keynote address, Ghana Shippers’ Authority (GSA) CEO Prof Ransford Gyampo promised decisive measures to cut the cost of doing business at the ports, curb smuggling, and discourage the use of Togo’s port for Ghana-bound goods.

“We will address loopholes and shortfalls at ports of entry to make them seamless and affordable, while ensuring importers and exporters are not marginalised in decision-making,” Prof Gyampo said.

He commended the IEAG’s constructive advocacy over the past decade and reaffirmed the GSA’s commitment to collaborate with stakeholders for greater efficiency, transparency, and a friendlier business environment.

Under the new Shippers Act, which empowers the authority to regulate and review port charges, research is already underway to assess new fees. Prof Gyampo noted that while a stronger cedi would automatically reduce charges, the GSA will negotiate some fees down — and eliminate others entirely — to ease the burden on traders.