The Bank of Ghana (BoG) has directed all shipping lines operating in the country to publish their daily exchange rates, effective Tuesday, July 22, 2025. The rates must align with those of commercial banks, as part of broader efforts to standardise foreign exchange pricing at Ghanas ports.
This directive follows mounting concerns and complaints from importers, freight forwarders, and port users over discrepancies in the exchange rates charged by different shipping lines.
Stakeholders have argued that the lack of uniformity has resulted in unfair charges, distorted shipping costs, and contributed to rising prices of imported goods.
In a statement issued on July 22, 2025 and sighted by GhanaWeb Business, the Central Bank announced the introduction of guidelines for the application of exchange rates in the shipping industry.
The guidelines aim to ensure transparency, consistency, and alignment with regulatory frameworks in foreign exchange pricing for services offered at the ports, the BoG stated.
The guidelines, developed in consultation with key stakeholders in the shipping and logistics sector, are intended to enhance accountability and protect port users from arbitrary or inflated forex charges.
Consequently, shipping lines are now required to publish their daily exchange rates, benchmarked against prevailing commercial bank interbank rates, on their official platforms for public access.
The bank announced the following guidelines:
1. The guidelines apply to all players in the shipping industry operating in Ghana.
2. All industry players must publish daily exchange rates used for invoicing on their websites and/or at their premises.
3. The published rate must be available to customers and communicated clearly to them prior to the issuance of invoices or payment.
4. Invoices should clearly indicate:
i. The currency of the service;
ii. The applied exchange rate
iii. The date of application; and
iv. The final amount in GHS or USD.
5. Exchange rates must be market-reflective of their commercial bank rates which is expected to be benchmarked to the Bank of Ghanas published interbank exchange rate and not arbitrarily determined.
6. In case of disputes relating to the exchange rate application:
i. Customers may lodge a formal complaint with the service provider ii. Unresolved complaints may be escalated to the Ghana Shippers Authority (GSA).
7. All industry players must comply with the Foreign Exchange Act, 2006 (Act 723) and related notices.
8. Non-compliance may result in administrative sanctions.
9. The guidelines shall come into effect on 22nd July, 2025 and remain in force until otherwise amended or revoked.
SSD/MA
Watch the latest episode of BizTech below: