Economist Dr. Paul Appiah Konadu has endorsed President John Mahama’s administration’s crackdown on illegal port charges, asserting it will curb imported inflation and support Ghana’s industrial sector.
In an interview with The High Street Journal, Dr. Konadu highlighted shipping lines’ use of arbitrary exchange rates as a primary concern, noting they defy the Bank of Ghana’s official rate of GH¢10.3–10.5 per dollar by charging up to GH¢13.
These unapproved fees inflate costs for imported machinery, spare parts, and raw materials critical to local manufacturers, Dr. Konadu stated. He warned that such practices directly fuel imported inflation in Ghana’s import-dependent economy, undermining production competitiveness and raising consumer prices. “When shipping lines impose illegal charges, it artificially raises production costs and filters into market prices,” he explained, emphasizing that the issue extends beyond finished goods to essential industrial inputs.
Dr. Konadu dismissed concerns that reducing port charges might undermine local industries by making imports cheaper. He clarified that the goal is eliminating market distortions, not subsidizing imports. “Local production must compete on merit—not rely on inflated import costs as artificial protection,” he argued, adding that fair pricing is vital for businesses dependent on imported equipment.
The economist praised ongoing collaboration between the Ghana Shippers Authority and the Bank of Ghana as a critical enforcement step. He stressed that removing illegal fees will enhance cost predictability for manufacturers and align with broader efforts to stabilize prices. Dr. Konadu concluded that rigorous regulation at ports is indispensable for taming inflation and fostering sustainable industrial growth.