The Bank of Ghana (BoG) has rolled out new regulations requiring shipping companies to publicly display the exchange rates they use for invoicing in a bid to tighten transparency and curb arbitrary pricing practices within the industry.
Announced Tuesday, July 22, 2025, under Notice No. BG/GOV/SEC/2025/47 and signed by BoG Secretary Sandra Thompson, the directive compels all operators in Ghana’s shipping sector to make their daily exchange rates visible – either online or at business premises and ensure customers are informed before any payments or invoices are issued.
Under the new rules, invoices must clearly state the service currency, the applicable exchange rate, the date the rate was applied, and the final amount due in either Ghana cedis or US dollars.
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The Central Bank stressed that all quoted rates must reflect prevailing market conditions and be benchmarked against its own interbank exchange rates. It warned industry players against setting rates arbitrarily.
A two-stage dispute resolution process has also been introduced. Customers with concerns must first engage the service provider, and if unresolved, escalate the matter to the Ghana Shippers’ Authority.
BoG also reminded stakeholders to comply with the Foreign Exchange Act, 2006 (Act 723), along with all associated regulatory notices. Failure to comply, it noted, could result in administrative sanctions.
The directive takes immediate effect from today, July 22, 2025, and will remain in force until amended or withdrawn.