Global economic challenges, inflation, and currency depreciation informed the newly-increased port tariffs, the Ghana Ports and Harbour Authority (GPHA) has justified.

The GPHA explained that while there has been an upwards adjustment of charges, Ghana’s rates remain more competitive among other countries in the sub-region.

Earlier, in a statement, the President of the Ghana Union of Traders’ Association, Dr. Joseph Obeng, called on the GPHA to suspend the implementation of the new tariff.

He explained that this new review will cripple businesses within his sector.

But the GPHA has also explained in an August 3, 2023, statement that its hands were tied with respect to the adjustments.

“Despite their concerns, GPHA was compelled to implement the revised tariff due to the current global economic challenges including Inflation and currency depreciation which have increased our operational cost.

“Just like all other increments done in the past, the rates of increment in this year’s tariff adjustment were informed by the outcome of a comparative port tariffs studies we conducted in our neighbouring Ports of Lomé and Abidjan, to ensure that at every given time, our ports will remain competitive in terms of price and quality of services. We wish to note that even with the increment of 1″ August 2023, overall, our port tariffs remain competitive compared to our neighbours,” the statement said.

The Ghana Ports and Harbour Authority (GPHA) added that it has invested millions of dollars in upgrading port infrastructure and an efficient port system, that will bring about a reduction in the cost of operations of businesses.

“GPHA has invested millions of dollars in upgrading port infrastructure and a well maintained and efficient port system will, which in the long run, will contribute to a reduction in operational costs for businesses, enhance productivity and facilitate smoother trade operations,” it added.

The new GPHA ports tariffs came into effect on Tuesday, August 1, 2023.

AE/WA