NewzThe Importers and Exporters Association of Ghana (IEAG) has commended the Ghana Gold Board (GoldBod) and the Bank of Ghana (BoG) for measures it says have contributed to improved foreign exchange stability and economic confidence. The Association said the relative stability of the foreign exchange market had provided greater predictability for importers and exporters, allowing businesses to plan international transactions with increased confidence. According to the IEAG, GoldBod’s trading policies have helped strengthen Ghana’s foreign exchange position and improve access to foreign exchange for legitimate business activities.
It also praised the Bank of Ghana for measures aimed at maintaining macroeconomic and financial stability. Speaking at a press conference, Executive Director of the IEAG, Samson Asaki Awingobit, said the reduction in interest rates was particularly encouraging for businesses that rely on credit to finance their operations. He cited the Bank of Ghana’s Financial Stability Review, which showed that the average lending rate fell from 30.3 per cent in December 2024 to 20.5 per cent in December 2025.
Mr Awingobit said further reductions in the cost of credit would provide additional relief to importers and exporters who require working capital to purchase goods and meet international trade obligations. He urged GoldBod and the Bank of Ghana to sustain and deepen measures aimed at maintaining foreign exchange stability and lowering the cost of borrowing for businesses. The Ghana Revenue Authority (GRA) has been called upon by the Importers and Exporters Association of Ghana (IEAG) to strengthen its digital services and payment platforms to prevent disruptions to port operations.
The association observed that recent breakdowns in government digital platforms, particularly the Ghana.gov platform at the port, had caused significant delays and financial losses to businesses. Speaking at a press conference, Mr Samson Asaki Awingobit, the Executive Director of the IEAG, said the platform was reportedly unavailable for about a week before service was restored. Mr Awingobit said the disruption affected businesses that relied on the digital system to undertake customs and other port-related transactions.
He urged the GRA to invest in system resilience, regular maintenance, technical support, and contingency arrangements. He said reliable digital infrastructure was increasingly important as Ghana continued to adopt technology-driven systems for customs administration and trade facilitation. The IEAG stated that digital platforms should be designed to ensure that technical failures did not bring essential port and customs services to a standstill.
It also urged authorities to establish effective backup systems that could allow critical transactions to continue during periods of technical failure. The Association indicated that improving digital reliability would complement ongoing reforms aimed at making Ghana’s ports more efficient and reducing the cost of doing business. Touching on other business issues, the IEAG commended the Ghana Gold Board (GoldBod) and the Bank of Ghana (BoG) for their contribution towards improving foreign exchange and economic stability.
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