The Importers and Exporters Association of Ghana has commended the Bank of Ghana (BoG) and the Ghana Gold Board (GoldBod) for their contribution to improved economic and business conditions, particularly through measures that have strengthened the foreign exchange market.
The Association said greater availability and relative stability of foreign exchange had given importers and exporters increased predictability in planning international trade transactions.
“The improvement in the availability of foreign exchange for legitimate business activities and the relative stability in the foreign exchange market has provided a greater predictability for businesses engaged in international trade and has helped importers plan their transactions with greater confidence,” the Association said.
The Association also praised the Bank of Ghana for its monetary policy interventions and efforts to maintain macroeconomic and financial stability.
It said the reduction in interest rates was particularly important for businesses that rely on credit to finance imports, purchase goods and meet international trade obligations.
The Association cited the decline in the average lending rate from 30.3 percent in December 2024 to 20.5 percent in December 2025, describing the reduction as a welcome development for the business community.
“We believe that continual reduction in the cost of credit, subject to prevailing economic conditions, will provide much-needed relief to businesses, particularly importers and exporters who require working capital to finance their operations,” the Association said.
The Association also commended the Finance Minister and the Ministry of Finance, saying improved coordination between fiscal and monetary authorities, together with GoldBod’s interventions, had helped create a more stable economic environment.
“The combined effort of the Gold Board, the Bank of Ghana and other relevant economic management institutions have contributed to a more stable business environment,” it said.
The Association urged both the Bank of Ghana and GoldBod to sustain and deepen the interventions, particularly as demand for foreign exchange and imported goods is expected to increase during periods of heightened commercial activity.
Beyond monetary and fiscal policy, the Association urged importers to embrace Ghana’s move towards local marine cargo insurance, arguing that the policy could help retain more economic value within the country.
According to the Association, importers should consult insurance brokers or companies to ensure they obtain policies that adequately cover their cargo, including damage that may occur after goods have arrived at their warehouses.
“Please, if you are a buyer, the Government of Ghana wants us to buy insurance locally so that it will expand our economy,” the Association said.
It argued that greater use of local insurance services would support the domestic insurance industry and create employment opportunities.
“When we are buying insurance locally it will open up,” the Association said, adding that expansion of the sector could create opportunities for young Ghanaians entering the job market.
The Association also urged importers of commercial goods, including food products, vehicles and other merchandise, to seek professional advice on the appropriate insurance cover before completing their transactions.
It said importers should not simply purchase any insurance policy but ensure that the cover adequately protects their goods against the different risks that may arise during transportation and after delivery.
The Association said it remained committed to supporting trade policies that promote transparency, revenue mobilisation and a more efficient business environment, while urging government and other stakeholders to address emerging challenges affecting importers and exporters.
