Shippers Authority Reports Shipping Lines to BoG
On July 15, 2025, Professor Ransford Gyampo, Acting CEO of the Ghana Shippers Authority (GSA), announced that several shipping companies have been referred to the Bank of Ghana (BoG) for using unapproved exchange rates at ports—practices impacting importers and exporters. Complaint Details Numerous shippers filed grievances claiming shipping lines set exchange rates arbitrarily, not aligned with BoG’s official cedi reference rate. GSA’s investigation confirmed the abuse, prompting the referral of offending lines to the BoG for formal hearings and corrective action. Regulatory Next Steps Some shipping lines have been summoned by the BoG to explain their FX practices and justify their rate-setting methods. GSA is also developing a Legislative Instrument (L.I.) to legally empower it to regulate demurrage and other port charges, requiring shipping lines to submit fees for approval. Broader Context Ghanaian businesses pay an estimated GH¢30 million per week in […]