The Bank of Ghana has issued a new directive aimed at streamlining the application of exchange rates by stakeholders in the country’s shipping industry. The guidelines, which came into force on July 22, 2025, seek to promote transparency, consistency, and regulatory alignment in the pricing of port-related services.
In a notice titled “Guidelines for the Application of Exchange Rates by the Shipping Industry in Ghana” (Notice No. BG/GOV/SEC/2025/47), the Bank said the decision follows extensive consultations with key stakeholders within the sector.
“The guidelines aim to ensure transparency, consistency, and alignment with regulatory frameworks in foreign exchange pricing for services offered at the ports,” the BoG stated.
Under the directive, all operators in the shipping industry are required to publish the daily exchange rates used for invoicing on their official websites or display them prominently at their premises. Customers must be informed of these rates prior to the issuance of invoices or any payment.
According to the BoG, “The published rate must be available to customers and communicated clearly to them prior to the issuance of invoices or payment.”
Invoices issued by shipping companies are expected to indicate four specific elements:
The currency of the service;
The applied exchange rate;
The date of application; and
The final amount in Ghana Cedis (GHS) or US Dollars (USD).
Crucially, exchange rates used must reflect market conditions and be based on commercial bank rates, which are themselves to be benchmarked against the BoG’s published interbank exchange rate. The central bank warned that rates must not be “arbitrarily determined.”
The guidelines also establish a dispute resolution mechanism. “Customers may lodge a formal complaint with the service provider,” the notice explained.
“Unresolved complaints may be escalated to the Ghana Shippers’ Authority (GSA),” it added.
Industry players are further reminded to comply with the provisions of the Foreign Exchange Act, 2006 (Act 723), and all related regulatory notices. The BoG cautioned that non-compliance with the guidelines could attract administrative sanctions.
The central bank emphasized that the directive is binding on “all players in the shipping industry operating in Ghana,” and will remain in force until officially amended or revoked.
