Ghana’s transit trade industry plays a crucial role in the country’s economy, generating over $34 million annually from services associated with the handling and movement of transit cargo. However, despite these significant financial gains, the industry faces a number of challenges that threaten its sustainability and growth.
One of the key issues plaguing Ghana’s transit trade is the high charges imposed by service providers, as well as delays at ports, high haulage costs, numerous checkpoints, poor road conditions, and a lack of rest stops. These challenges not only impact the efficiency of the transit trade but also increase the overall cost of doing business for companies involved in the industry.
Fortunately, steps are being taken to address these issues and improve the overall performance of Ghana’s transit trade industry. The Ghana Shippers’ Authority (GSA) is actively working with stakeholders to streamline processes and reduce the cost of doing business at Ghana’s ports. The enactment of the facilitation of transit trade in the Ghana Shippers’ Authority Act, 2024 (Act 1122) will further strengthen the authority’s ability to regulate commercial activities and ensure compliance with regulations.
Additionally, efforts are being made to tackle the issue of overloading trucks, which contributes to road deterioration and increases maintenance costs. The Economic Community of West African States (ECOWAS) and West African Economic and Monetary Union (UEMOA) have harmonized axle load control regulations, with full implementation expected by 2026.
With a collective effort from all stakeholders in the transit trade ecosystem, including government agencies, service providers, and transport operators, Ghana’s transit trade industry can overcome its challenges and continue to be a preferred corridor for landlocked countries in the subregion. By implementing solutions and improving service standards, the industry can thrive and contribute even more to the country’s economy in the years to
Ghanaflare.com
