Princess Avenyoh
The Bank of Ghana has rolled out new regulations to standardise how exchange rates are applied in Ghana’s shipping sector.
Aiming to boost transparency, pricing consistency and compliance with foreign exchange laws.
Announced under Notice No. BG/GOV/SEC/2025/47 and signed by Secretary Ms. Sandra Thompson, the directive requires all shipping operators to publicly display their daily exchange rates used for invoicing.
These rates must be made available on company websites or at physical business locations and must be clearly communicated to customers before any payment or invoice is issued.
Under the new rules, invoices must now detail the currency of service, the exchange rate used, the date of the rate’s application and the total amount due in Ghana cedis (GHS) or U.S. dollars (USD).
The Central Bank emphasized that the rates must reflect actual market conditions and align with interbank rates published by the Bank, warning against arbitrary pricing practices.
In cases of disagreement over exchange rate use, the guidelines outline a two-step dispute resolution process.
First, customers must seek redress through the service provider and if unresolved, escalate the matter to the Ghana Shippers’ Authority.
The Bank also reminded all stakeholders to comply with the Foreign Exchange Act, 2006 (Act 723), warning that violations could attract administrative penalties.
The new directive came into effect on July 22, 2025 and will remain active until officially amended or withdrawn.