SHIPPING LINES DO NOT USE BOG RATES, IMORO AYARNA

Imoro Ayarna, an industry expert, has clarified that shipping lines operating in Ghana calculate their charges based on exchange rates from the port of origin, rather than using the Bank of Ghana (BoG) official rates.

 Ayarna addressed concerns raised by importers and stakeholders in the shipping and logistics sector regarding discrepancies in billing. He explained that since most freight charges are quoted in foreign currencies, shipping lines rely on the prevailing exchange rates at the point of departure — the port of origin — to determine the equivalent value in Ghanaian cedis.

This clarification comes amid growing concerns about the rising cost of doing business at Ghanaian ports, with many calling for more transparency and alignment with local financial benchmarks such as the BoG’s official exchange rates. However, Ayarna emphasized that these charges are influenced by international market dynamics and the billing systems used by shipping companies globally.