Ghana Union of Traders’ Associations (GUTA) President Clement Boateng warned that the surge in cargo volumes is clogging port operations and delaying goods clearance, adding to the strain on traders who rely on bank loans to finance imports.
Speaking on Joy News’ PM Express Business Edition, Boateng explained that clearance delays at the port are a direct result of the huge influx of cargo, which is now taking three to four months to arrive instead of the usual 45‑60 days.
He blamed the extended shipping times on the war and recent developments at the Strait of Hormuz, which have forced vessels to reroute and prolong delivery schedules. The longer transit period means traders must wait longer before their goods clear the port, compounding the congestion issue.
Boateng noted that the repayment schedule of bank loans adds another layer of pressure. “Once you take a facility from the bank, the repayment starts the following month,” he said, pointing out that borrowers are being asked to repay while their goods are still in transit.
He urged banks to grant a moratorium before repayments begin, giving traders breathing space as they await shipment arrival and clearance. The president’s remarks underscore the dual challenges of extended shipping journeys and port congestion for importers, especially those dependent on borrowed funds.
Traders will need to navigate these compounded delays while banks push for timely repayments, a situation that could reshape import financing practices in Ghana moving forward.
