The Importers and Exporters Association of Ghana (IEAG) has appealed to policymakers to maintain prudent monetary policies while strengthening collaboration with the private sector to enhance business confidence and increase trade volumes.

The association emphasised that consistent and carefully managed monetary policies were critical for creating a stable economic environment that would enable businesses to thrive and expand their operations.

Speaking at a media engagement in Accra on Saturday, January 3, the Executive Secretary of the Association, Samson Asaki Awingobit, said “strengthened regulatory frameworks and policy coordination will further support Ghana’s export competitiveness.”

He noted that Ghana’s cedi appreciated over 40 per cent against the dollar by mid-2025, providing significant relief to traders through reduced import costs and exchange-rate pressures.

“This appreciation was supported by strengthened foreign exchange reserves, with gross international reserves rising to over $11 billion by mid-year, providing nearly five months of import cover.

Export growth resurgence export earnings grew by an estimated 60 per cent in the first part of 2025, helping balance external accounts, while Ghana recorded significant trade surpluses,” he stated.

These outcomes demonstrate that Ghana’s macroeconomic groundwork, anchored by robust monetary policy, has restored confidence and enhanced stability in foreign exchange markets.

 

Trade operations

As a key stakeholder within Ghana’s trade and port ecosystem, the IEAG emphasised how these monetary developments had practically affected trade flows, port operations, business confidence, and the cost of doing business.

The association noted that the policy-driven cedi stabilisation reflected disciplined monetary policy and improved market confidence, all of which directly supported importers and exporters.

Mr Awingobit explained that in the maritime and port space, these macroeconomic improvements translated to real cost benefits, particularly during the 2025 yuletide period.

He said import clearance costs were significantly lower, relative to previous years, largely due to the stronger cedi, which reduced the foreign exchange component of duty payments, freight bills and related port charges.

Trader liquidity, he said, also improved, as better exchange rates lightened the cedi cost of working capital denominated in dollars, increasing throughput and enhancing port efficiency.

These gains, he added, had reinforced Ghana’s position as a competitive import and export hub in the region, positioning the country favourably for continued growth in international trade.