In light of recent economic difficulties, Ghana Ports and Harbour Authority justifies a rate adjustment.

The Ghana Ports and Harbour Authority (GPHA) has provided a thorough justification for its recent decision to raise port duties, claiming that the action is necessary to deal with global economic challenges, inflation, and currency depreciation as well as to maintain competitiveness compared to neighbouring nations.

The Ghana Union of Traders’ Association (GUTA) President, Dr. Joseph Obeng, demanded the delay of the execution of the GPHA’s tariff change in response, citing potential negative consequences on businesses. However, the GPHA addressed the justification for the tariff revision in a statement issued on August 3.

The decision of the GPHA was principally motivated by the current economic problems facing the world, such as inflation and currency depreciation, which have significantly raised the operating costs of the ports. The authority claimed that, in light of the current economic climate, it was obligated to adopt the new tariff in order to maintain effective port operations.

The GPHA carried out a comparison analysis of port rates in nearby ports, including Lomé and Abidjan, to make sure that their ports continue to be competitive in terms of both cost and service quality. This thorough investigation provided input for the current tariff adjustment’s rate of increase. The GPHA further emphasised that, despite the increase that became effective on August 1, 2023, the port’s overall tariffs continue to be competitive when compared to those of nearby ports.

The GPHA also highlighted its considerable investment in improving port infrastructure and the effectiveness of the port system. Long-term operating cost reduction for businesses, increased overall productivity, and easier trade processes are the goals of these upgrades.

The GPHA’s decision to modify port charges is a strategic one to maintain Ghana’s position as a competitive player in the regional and global trade arena as it navigates the difficult global economic landscape. Businesses and merchants will closely examine the tariff adjustment’s effects on trade activities and the nation’s economy as they materialise.

The GPHA’s commitment to ongoing development and its investment in port infrastructure continue to be crucial cornerstones for the expansion and prosperity of Ghana’s marine industry in the coming years.