Exporters in Ghana may soon enjoy significant relief as the government rolls out measures aimed at reducing cost burdens that have long hampered trade efficiency.
Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, has announced that steps are being taken to eliminate weekend demurrage charges—fees she described as unfair penalties imposed on exporters due to operational delays outside their control.
Speaking at the FirstBank and African IES Exporters Forum in Accra, the Minister assured stakeholders that her ministry is working closely with the Ministry of Transport and the Ghana Ports and Harbours Authority (GPHA) to review the current policy framework.
“We understand your frustration regarding demurrage fees incurred when ports are closed. In collaboration with the Ministry of Transport and the Ghana Ports and Harbours Authority, [we] are reviewing these policies,” she said.
She stressed: “Exporters should not be penalized for systemic delays beyond their control.”
The Minister also addressed concerns about the application of arbitrary exchange rates at ports, which traders say creates inconsistency in pricing and hampers business predictability.
“Concerns about inconsistent exchange rates used in trade-related transactions are being addressed with the Bank of Ghana and financial institutions. Our goal is to ensure greater transparency, predictability, and fairness to enable better planning,” she added.
For his part, the Managing Director of FirstBank, Victor Yaw Asante, emphasized the broader role commercial banks must play in supporting Ghana’s export-driven economy.
“Sometimes people overemphasize credit, although it is probably key, but there are a whole lot of other things that are crucial when it comes to exports—documentation, for example, advisory services, and letters of credit—and this is where banks come in,” he said.
The forum, which brought together exporters, policymakers, and financiers, focused on ways to boost trade facilitation and make Ghana more competitive on the global market.