The Chamber of Freight Forwarders and Traders has welcomed a new directive from the Bank of Ghana requiring all port service providers to publicly display the exchange rates they use when billing clients.

Describing the move as timely and necessary, the Chamber believes it will enhance transparency at Ghana’s ports and help reduce the cost of doing business.

Speaking on Citi FM’s Eyewitness News on Tuesday, July 22, 2025, the Chamber’s President, Dennis Amfo Sefa, praised the central bank for responding to long-standing concerns raised by industry players.

He said the measure directly addresses calls for accountability from freight forwarders and traders.

“We’ve pushed for this kind of openness for years. If the government truly wants to ease the burden on businesses, then it’s essential for shipping lines, terminal operators, and other port actors to be transparent,” he said.

Sefa added that the government’s efforts to control exchange rate fluctuations should be reflected in the charges importers and exporters face at the ports.

According to him, applying official rates in billing will ensure that businesses benefit from broader economic reforms.

Under the new rules, which took effect on July 22, 2025, shipping lines, terminal operators, freight forwarders, and other port-related service providers must display their exchange rates daily.

These rates must be published on websites, clearly posted at physical offices, and communicated to customers before any invoices are issued.

The directive forms part of revised foreign exchange guidelines for the maritime and shipping sector, aimed at promoting fair trade practices and eliminating inconsistent billing, an issue that has long affected importers and exporters.

DR/MA

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