The Importers and Exporters Association of Ghana (IEAG) has slammed politically connected cartels for hijacking auctions of perishable goods at Ghana’s ports.
The practice is crippling businesses and eroding investor confidence, the Association warns. In a strongly worded statement, IEAG linked this to Ghana’s ongoing foreign exchange shortages, which leave importers unable to access dollars fast enough to clear shipments.
Under law, goods on the Uncleared Cargo List (UCL) get a 60-day grace period before auction. But IEAG says this window’s been cut to just 21 days without explanation – a loophole exploited by politically connected businessmen scooping up goods at cut-rate prices, often without proper gazetting or legal process. Traders say it’s galling that while importers lose goods and face heavy demurrage charges, beneficiaries of these auctions pay a mere GH₵6,000 to GH₵10,000 service fee.
“This fraudulent system not only robs importers of their hard-earned capital but also denies the state valuable revenue at a time when Ghana desperately needs every pesewa,” the Association said.
IEAG demands:
- Restore the 60-day UCL grace period.
- Allow first-time clearance for importers struggling with forex.
- Probe by Customs and security agencies into the “political cabal” profiting from the system.
- Bank of Ghana ensure forex availability at fair rates.
The Association warns of mass action if authorities don’t intervene swiftly.
