The Ghana Union of Traders Association (GUTA) has assured that its members are ready to swiftly reduce prices of goods once the government successfully addresses the persistently high shipping charges and port fees.
According to the traders, these charges are a key factor driving up market prices, making goods more expensive for consumers.
They have welcomed recent efforts by the government to bring local shipping fees in line with more competitive rates seen in other West African countries.
Speaking in an interview, GUTA’s First Vice President, Clement Boateng, described President Mahama’s directive to the Transport Minister and the Attorney-General to take action against unauthorised port and shipping fees as timely and necessary.
This move followed widespread complaints from businesses burdened by excessive charges.
Mr. Boateng highlighted that shipping fees in Ghana are significantly higher than in neighbouring countries such as Togo, Benin, Côte d’Ivoire, and Nigeria.
“This situation is unfair and unsustainable, that’s why we fully support the President’s decision. It’s a bold step in the right direction,” Mr Boateng stressed.
He further revealed that GUTA members have already started a second wave of price reductions, particularly in sectors like auto spare parts.
Some products that previously sold for GH₵1,500 are now available for GH₵1,200.
“We promised that prices would drop from July, and we are keeping that promise. If you visit the markets now, you’ll see the difference,” he said.
Mr. Boateng also encouraged consumers to “shop around” and compare prices to help drive further reductions through competitive pressure.
He dismissed claims that Ghanaian businesses are not adjusting their prices despite the recent strengthening of the cedi, insisting that traders are doing their part and will do even more if the government eases the cost of doing business at the ports.