Business Finder can confirm that several importers cannot clear their goods at the ports due to increasing depreciation of the Cedi and delayed certification processing.
For instance goods which used to be cleared for GH¢10,000 at the beginning of the year is now being cleared for almost GH¢17,000.
Many imported vehicles and other items particularly electrical and electronic items were scattered at the Jubilee terminal of the Tema Port when this paper visited the port recently.
This paper further learnt that the vehicles and the goods could stay at the ports for many weeks or months before they are cleared by their owners. Even in some cases, the owners do not return to clear their goods, leading to the auctioning of the goods later on.
Most agents Business Finder spoke to are unhappy about the situation because they are incurring losses due to lack of business. The more goods cleared at the ports, the more money the agents make.
Car dealer, Isaac Owusu blamed the rising cost of import duty solely on the depreciation of the Cedi. According to him, he has been compelled to keep three of his imported Honda vehicles at the Jubilee Terminal car park because he does not have money to clear them. This will obviously attract higher rent by the Ghana Ports and Habours Authority (GPHA) because the longer the vehicles or goods are kept at the ports, the higher the rental charges.
Another importer, Issah Mumuni, is furious with the government for allowing the Cedi which started at GH¢3.25 to a dollar on January 1, 2015 to depreciate rapidly against the dollar selling at about GH¢4.0.
Executive Secretary of the Association of Importers and Exporters, Sampson Asaki told Business Finder on phone that the unstable local currency has made it difficult for importers to know the actual duty to pay.
As we speak now the Cedi is selling at about GH¢4 to the dollar so you see we the importers cannot budget because the figures keep changing every week,” he said.
He also explained that importers are facing holdups in terms of processing of documents for clearing. “The number of days containers spend at the ports delays certification processing and so on. We are urging the sector ministry to tell its agencies to do the right thing and prevent delays.”
Mr. Asaki re-emphasized the need for a single window; a one-stop-shop concept where all agencies involved in clearing at the ports will be situated at one place or integrated into a common platform that will help reduce the number of days for clearing of goods.
Business Finder recently hinted that several average earning young Ghanaian professionals will not be able to own a vehicle for quiet sometime because of the rising cost of cars due to the impact of the Ghana Cedi on the Ghanaian economy.
The other cost with regard to rental charges by the Ghana Ports and Harbors Authority, VAT levy and other levies have made cost of clearing vehicles and goods very expensive in Ghana.
This has also pushed inflation up particularly the non-food component which is dominated by imported inflation up.
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