Sampson Asaki Awingobit, Executive Secretary of the Importers and Exporters Association of Ghana, says Ghana’s business community has experienced significant improvements under the administration of President John Dramani Mahama, particularly in the areas of imports, foreign exchange stability and the cost of doing business.
Speaking on Ahotor FM’s Morning Show on Wednesday, September 16, 2026, in Accra, Mr. Awingobit said the increasing volume of goods and cargo entering Ghana is one of the clearest indications of improved confidence among importers and businesses.
He said that over the past two years, there has been a tremendous improvement in the volume of goods and cargo coming into the country.
According to him, containerised cargo alone reached approximately 2.7 million containers in 2025, while from January to July 2026, Ghana’s ports had already recorded approximately 2.5 million containers.
He said if the trend continues, the country could end 2026 with more than three million containers.
Mr. Awingobit stressed that the figures do not include other categories of cargo such as vehicles, iron rods, steel products, crude oil and other non-containerised cargo.
He attributed the increase in imports partly to what he described as stability in the Ghanaian economy and the foreign exchange market.
Customs exchange rate providing relief
Mr. Awingobit explained that one of the major challenges confronting importers in the past was the frequent changes in the exchange rate used by Customs to calculate import duties.
He recalled that at the beginning of 2025, the Customs exchange rate and the market value of the dollar were significantly higher, creating additional pressure on importers.
He said businesses were therefore paying more in duties because the exchange rate used to calculate their obligations was high.
However, according to him, following the presentation and implementation of the Mahama administration’s substantive 2025 budget, the situation changed.
He explained that the January, February and March period was covered by the interim budget prepared by the previous administration, while the Mahama government’s substantive budget was presented in March 2025 and implementation began subsequently.
Mr. Awingobit said that instead of the Customs exchange rate increasing further, it fell considerably, reaching around GH¢10.20 to the US dollar at one point.
He used an example of an importer paying GH¢200,000 in duties at an exchange rate of GH¢13 to the dollar.
According to him, if the same transaction was calculated at around GH¢10.20 to the dollar, the importer would make considerable savings.
He said such savings directly benefit the business community because importers are able to reduce the amount of money required to clear their goods.
Abolition of E-Levy saves businesses money
The Executive Secretary also highlighted the abolition of the E-Levy as another major source of savings for businesses.
He explained that importers normally make large payments electronically to government through their banks and other approved channels.
He said although the payments were legitimate business transactions, the previous one-percent charge on electronic transfers increased the cost of doing business.
According to him, the abolition of the E-Levy means businesses can now make such electronic payments without incurring that additional cost.
He described this as a direct saving for importers and the wider business community.
COVID levy also removed
Mr. Awingobit further mentioned the abolition of the COVID-19 levy as another measure that has provided relief to businesses.
He said the removal of the levy represents another reduction in the costs associated with importing goods into Ghana.
He argued that when several such charges are removed, the cumulative effect becomes significant for businesses operating on large volumes.
Forex shortages previously affected importers
Mr. Awingobit recalled the difficulties importers faced when accessing foreign exchange to pay their overseas suppliers.
He said there were periods when an importer could deposit money with a bank but wait for several days, and sometimes much longer, before obtaining the dollars needed to complete an international transaction.
He said the problem was particularly serious for importers dealing with refrigerated and perishable cargo.
According to him, delays in accessing foreign exchange could cause goods to remain at the ports while the statutory clearance period continued to run.
He recalled that he had publicly raised concerns about the situation, including concerns over refrigerated cargo that risked being auctioned because of delays in clearing.
He said Customs had explained that under the law, certain cargo could be auctioned if it remained uncleared beyond the stipulated period, particularly where perishable goods were involved.
Bank of Ghana intervention
Mr. Awingobit commended the Bank of Ghana for intervening to address the foreign exchange challenges.
He said investigations by the central bank revealed issues surrounding the handling of remittances and foreign exchange flows.
According to him, some companies were receiving remittances which should have translated into dollar liquidity in Ghana, but the funds were not immediately being made available in the manner businesses required.
He said the Bank of Ghana subsequently took steps to address the problem and improve the flow of foreign exchange into the economy.
He mentioned measures affecting some remittance and payment platforms and said the interventions eventually helped make more dollars available to businesses.
Mr. Awingobit credited officials at the Bank of Ghana for working to resolve the problem and said the improvement has contributed to greater stability in the foreign exchange market.
Cedi stability boosting confidence
He said the relative stability of the cedi against the dollar has become one of the major factors influencing business decisions.
According to him, businesses are rational and will naturally become more willing to import when they believe the exchange rate is relatively predictable.
He said importers who previously feared that the dollar could rise sharply were now more confident because the exchange rate had remained within a relatively stable range for an extended period.
He said the stability had encouraged businesses to bring more goods into Ghana.
He explained that importers operating in areas such as Lapaz, Accra, Kumasi and other commercial centres are increasingly bringing goods into the country because of the improved business environment.
He stressed that the increase is not limited to one category of goods but includes vehicles and other commodities being imported into Ghana.
Inflation and interest rates
Mr. Awingobit also pointed to improvements in inflation and interest rates as factors supporting the business community.
He said Ghana was previously experiencing high inflation, which made it difficult for businesses to plan and operate effectively.
He noted that inflation has now returned to single-digit territory.
He also said the cost of borrowing has improved compared with the period when businesses were obtaining loans at interest rates of 30 percent or more.
According to him, businesses that negotiate effectively can now access loans within the 17 to 18 percent range, although the actual rate depends on the circumstances of individual businesses and their negotiations with financial institutions.
He said lower borrowing costs can help businesses expand, invest and create employment.
What could have happened without exchange-rate stability?
Mr. Awingobit argued that the importance of the current exchange-rate stability becomes clearer when compared with what could have happened if the cedi had continued depreciating.
He said if the dollar was around GH¢14 at the beginning of 2025 and had continued rising unchecked, it could theoretically have reached GH¢18, GH¢20 or even higher.
Such a development, he said, would have significantly increased the Customs exchange rate and consequently the amount importers would have paid in duties.
He warned that higher import costs would eventually affect the prices of goods on the market and place additional pressure on consumers.
He therefore said the relative stability of the cedi has helped prevent what could otherwise have been a much higher cost burden for importers.
Increased cargo volumes linked to economic stability
Mr. Awingobit maintained that the approximately 2.5 million containers recorded between January and July 2026 should be viewed in the broader context of economic stability.
He said the volume of imports demonstrates that businesses are responding to the economic conditions and are prepared to commit more resources to trade when they can reasonably predict their costs.
He said the combination of a stable exchange rate, lower inflation, improved access to foreign exchange, removal of certain levies and relatively lower borrowing costs has created savings and greater certainty for businesses.
He therefore attributed the increased cargo volumes partly to what he described as prudent management of the economy.
24-hour economy
Mr. Awingobit subsequently turned his attention to the government’s 24-hour economy policy, raising questions about how the initiative can further affect businesses and economic activity.
He noted that discussions about the 24-hour economy should also consider the situation that existed before the Mahama administration and whether businesses are now in a better position to take advantage of extended operating hours.
He indicated that the success of the policy would depend not only on businesses working longer hours but also on the availability of the necessary economic conditions, financing, infrastructure, security and demand to make extended operations commercially viable.
He said the broader objective should be to create an environment where businesses can operate efficiently, increase production and trade, create jobs and contribute more significantly to the Ghanaian economy.
Mr. Awingobit maintained that, based on the developments he cited, the business community has seen measurable changes in the operating environment since the Mahama administration took office.
By Stephen Kwaku Owusu Mintah/Ahotoronline/Accra