Importers and freight forwarders are anticipating at least 200 dollars cut in cost of clearing goods following the scrapping of the one percent special import levy. They say though the figure is marginal, its timely considering the ultimate impact in reducing the burden on businesses. Finance Minister, Ken Ofori Atta, in the 2017 budget statement … Read more
First HMDA barbecue of 2017 held in Ghana, an event dedicated to engage with our customers, listen to them, answer their questions plus share a joyful moment! HMD AFRICA is the leading trading company of world class heavy machinery and equipment. It is strongly related to the renowned dynamic network of HMD spread across Africa, … Read more
Importers in Ghana have welcomed the abolishment of the 1% special import levy charged at the ports. The Finance Minister, Ken Ofori-Atta announced this among other tax cuts in the budget presentation before parliament earlier today in parliament. The special levy which was introduced last year by the previous government has received huge backlash from … Read more
Businesses in the import and export trade are demanding a reduction in the new EXIM levy on imports. They argue that the development will increase the cost of operation and overburden final consumers. “Absolutely the charge is very high; they could have still maintained the 0.5 percent usually been paid by importers…We’ve seen the goodwill … Read more
President of the Ghana Institute of Freight Forwarders (GIFF), Kwabena Ofosu-Appiah, has lauded the establishment of the Railway Development Ministry, as it will save cost to shippers, improve transit trade and position the critical sea trade sector for good times ahead. “For us as freight forwarders, we have been starved of this mode of transport … Read more
Graphic Business and Globe Productions Limited have opened nominations for the Ghana Shippers Awards 2017, scheduled for 26th May 2017 at the Movenpick Ambassador Hotel 6:00pm. Nominations are now opened until 31st March 2017. The Ghana Shippers Awards provides a platform to recognize individuals and companies that play a significant role in the growth and … Read more
The Bank of Ghana (BoG) has announced plans to release some $120 million onto the market for the first quarter of this year as part of the Central Bank’s plan to help stabilise the cedi. The auction which will be restricted to licensed foreign exchange dealing banks will see the regulator, auction $40 million in … Read more
Chamber of Petroleum Consumers, (COPEC) Ghana is expecting the incoming government to implement a comprehensive transportation policy to regulate transport fares between commuters and transport owners. This call becomes necessary due to unfair treatment commuters experience anytime there is a price adjustment in transport fares. In an interview with JOYBUSINESS, Executive Secretary of the Chamber, … Read more
Importers and agents deserted the Tema Port on election day, Wednesday, December 7, 2016 and brought business activities at the port and its environs to a halt. A tour of the port should that most of such offices were closed, with a few importers rarely visiting the documentation vetting centre, popularly referred to as the … Read more
Why does it still take so long to drive across Africa? There is no rail network connecting West and East Africa, and there are relatively few flights. Google Maps very optimistically estimates that it would take 75 hours to drive non-stop from Lagos to Nairobi, the major commercial hubs in West and East Africa respectively. … Read more
Transport Minister, Fifi Fiavi Kwetey, says the ongoing aggressive infrastructural projects being witnessed at the ports affirm government’s quest to brand the country as the trade and transport hub of the sub-region. The development works, according to the minister, are efforts at building an integrated intermodal system of transport to push up the gains from … Read more
Chief Justice, Georgina Theodora Wood has called on the judiciary to prepare for possible litigations associated with Ghana’s increasing maritime trade business. According to her, the significant increase has also led to intense business activities among key players in the shipping industry. “Indeed this growth has produced a bursting activity among key players such as … Read more
Indigenous freight forwarders, mainly engaged in customs brokerage, ship husbandry and ancillary port services, are losing business to foreign competitors operating in the country largely because of unfair trade practices. “We have seen contracts of Ghanaian freight forwarders cancelled not because of non-performance but simply on account of privileged information and undercutting offers that are … Read more
The Ghana Revenue Authority (GRA) and the U. S Customs and Border Protection have signed a Memorandum of Understanding (MoU) to facilitate the exchange of customs expertise from both countries. The agreement covers trade between the two countries, prevention of narcotics trade, averting human trafficking, and the trafficking of hazardous materials. Speaking to the media … Read more
Trade associations in the country are accusing some shipping lines in the country of allegedly charging terminal handling charges despite a directive by the minister of transport Fifi Kwetey, for them to stop. Executive secretary of the importers and exporters association, Samson Asaki described the act of the shipping lines as an affront to the … Read more
Players in Ghana’s shipping sector are planning a protest against the continuous implementation of Terminal Handling Charges (THC) by the by Shipping lines. With the new charges, shippers would have to pay between 140 and 155 dollars for a 20-footer container, and 260 to 275 dollars for a 40-footer. The body says the payment of … Read more
There is uneasy calm in the shipping sector between shipping lines/agents on one side and a critical mass of the shipping community made up of traders, freight forwarders and import/export businesses, following government’s decision to stop introduction of the Terminal Handling Charges (THC) as a local cost to shippers. Some shipping lines are still imposing … Read more
A freight forwarder at Ricks Logistics has described Ghana’s port as an easier route for the importation of vehicles. The clearing agent confirmed that the custom officers at the ports, especially in Tema, make their work less hectic. “With genuine documentation, anyone can easily import a used-car. Those with false documents are the ones who … Read more
“We urge Government to apply heavy sanctions against any Shipping Line that acts contrarily or attempts to impose such arbitrary charges on Shippers” that’s the latest call from leadership of key business associations in the country over the Terminal Handling Charges (THC) proposed by shipping lines. This follows an order issued by the Transport Minister … Read more
The Ministry of Transport has ruled against the introduction of the Terminal Handling Charges at Ghana’s ports. A statement issued and signed by the Minister of Transport, Fiifi Kwetey said, “Terminal Handling Charges (THC) cannot be introduced at the ports in Ghana as a local charge.” It added, “Terminal Handling Charges may be introduced as … Read more