Ghana Shipping Authority concludes probe into arbitrary exchange rates by shipping lines

The Ghana Shipping Authority (GSA) says it has concluded investigations into shipping lines accused of imposing arbitrary foreign exchange rates on customers.

The Director of Communications for the Ghana Union of Traders Association (GUTA), Joseph Paddy in an interview with an Accra-based television station TV3, stated that shipping charges in the country remain one of the major cost factors in doing business in Ghana.

He explained that the exorbitant nature of these charges, particularly during weekends, is the most troubling.

According to Mr Paddy, although regulations exist for weekend deliveries, shipping companies still impose what they term “claiming fees” and “damage fees,” a trend that has persisted for years.

The GUTA Communications Director further noted that many Ghanaian traders continue to complain about excessive shipping charges, adding that some shipping lines that do not even operate locally are charging exorbitant fees.

The Acting Chief Executive Officer of the Ghana Shipping Authority, Professor Ransford Gyampo, confirmed that certain shipping lines at the ports are applying habitual exchange rates in ways that undermine the government’s efforts to reduce the cost of doing business and shipping.

“Some shipping lines are creating serious problems for the people of Ghana,” Professor Gyampo said, adding that the findings of the ongoing investigations will be submitted to the Bank of Ghana (BoG) for potential regulatory enforcement.

“Investigations are ongoing and findings will be submitted to the Bank of Ghana for potential regulatory enforcement,” he reiterated.

He also assured Ghanaians that “by the close of this week, some better news will come out of it.”

Meanwhile, President John Dramani Mahama has directed that Parliament approve all shipping line fees, in response to growing public outcry on the matter.