Story perspectives

New Forex Transparency Directive to Lower Shipping Costs

7/24/2025

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Summary

Story summary

Prof. Ransford Gyampo, CEO of Ghana Shippers Authority, commended the Bank of Ghana's new forex rate transparency directive.
Starting July 22, 2025, shipping companies must publish daily forex rates and inform customers prior to invoicing.
This initiative seeks to address inflated exchange rates that raise shipping costs and weaken the Ghanaian cedi.
Gyampo stressed the need for fairness in port charges, noting shippers' positive reception to the directive.

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Story summary

Prof. Ransford Gyampo, CEO of Ghana Shippers Authority, commended the Bank of Ghana's new forex rate transparency directive.
Starting July 22, 2025, shipping companies must publish daily forex rates and inform customers prior to invoicing.
This initiative seeks to address inflated exchange rates that raise shipping costs and weaken the Ghanaian cedi.
Gyampo stressed the need for fairness in port charges, noting shippers' positive reception to the directive.