Professor Ransford Gyampo, CEO of the Ghana Shippers Authority, has expressed concern that the high cost of doing business in Ghana may force companies to relocate to more cost-effective countries.
Speaking on TV3’s KeyPoints on Saturday, February 22, Gyampo identified exorbitant shipping prices and deliberate incompetence by some players as major contributors to the high costs.
“The cost of doing business in Ghana is very high,” Gyampo said. “Some people are charging exorbitant prices on shipping items, being deliberately incompetent just to cause people to pay demurrage. That is making the doing of business in Ghana very high, and some are threatening to move their businesses to countries where it is less expensive to do business.”
Gyampo also accused international shipping lines of resisting regulation, but assured that the government is working to address this with a legislative instrument (LI).
“Some of the international shipping lines don’t want to be regulated,” he said. “We are bringing an LI that will regulate the sector… we have a right to make our laws… we will not do that to antagonize anybody.”
The Ghana Shippers Authority’s efforts to regulate the sector and reduce costs come as the government seeks to create a more business-friendly environment in Ghana.