CEO of the Ghana Shippers Authority, Professor Ransford Gyampo, has sounded an alarm over the conduct of some international shipping lines, accusing them of deliberately using arbitrary exchange rates in defiance of the Bank of Ghana's official rates.
Gyampo revealed that the Authority had completed investigations into the matter and shared its findings with the central bank. "Some shipping lines are using their own arbitrary exchange rate; we have done all the investigations and given our findings to the Bank of Ghana. "Hopefully, we will all meet and look at this," he said in an interview on TV3's KeyPoints, Prof.
His latest revelation adds to growing concerns about the high cost of doing business in the country, a topic Gyampo has previously addressed.
Back in February, he warned that the escalating cost of shipping and logistics in Ghana was pushing some businesses to consider relocating to more affordable environments. "The cost of doing business in Ghana is very high. "Some people are charging exorbitant prices on shipping items, being deliberately incompetent just to cause people to pay demurrage," he lamented. "Some are threatening to move their businesses to countries where it is less expensive to do business." Prof.
