Ghana trade groups urge Tema Port expansion amid gold programme disputes

The Importers and Exporters Association of Ghana (IEAG) has raised urgent concerns regarding critical congestion at Tema Port. To alleviate the pressure, the IEAG is calling on the Ghana Ports and Harbours Authority (GPHA) to reclaim land from expired private leases to develop new cargo terminals. Additionally, the association noted improvements in port clearance efficiency following technical interventions by Ghana Link regarding the Integrated Customs Management System (ICUMS).

Separately, the financial management of the Domestic Gold Purchase Programme (DGPP) has become a point of intense debate. While some political figures and groups like the Alliance for Accountable Governance (AFAG) have called for forensic audits and investigations into reported losses of approximately US$1.7 billion, the Institute of Economic Affairs (IEA) suggests that much of this figure represents book-entry valuation differences due to exchange rate fluctuations rather than actual cash losses.

Despite these disputes, the IEAG has commended the Bank of Ghana and the Ghana Gold Board (GoldBod) for their roles in stabilizing the foreign exchange market, noting that improved forex availability and macroeconomic stability have aided international trade predictability.