The Importers and Exporters Association of Ghana (IEAG) has sounded the alarm over what it describes as a “mafia-style” network operating illegal auctions at the country’s ports, accusing politically influential groups of exploiting the ongoing foreign exchange crisis to seize goods from legitimate traders.
In a strongly worded statement signed by its Executive Secretary, Mr. Samson Asaki Awingobit, the Association lamented that the worsening forex shortage has left many importers unable to clear their consignments—especially time-sensitive items like frozen foods—leading to devastating financial losses.
Rather than receiving relief, IEAG says its members are being subjected to a predatory cycle where their investments are hijacked and auctioned under questionable circumstances.
“Due to importers’ inability to secure forex on time to clear their goods, their consignments are pushed onto the Undercleared Cargo List (UCL),” the statement explained.
“Shockingly, the statutory 60-day grace period before auctioning has been arbitrarily reduced to 21 days. Politically-connected businessmen lie in wait for this window to elapse, after which goods are dubiously auctioned without recourse to the importer.”
The Association further alleged that legal procedures such as gazetting are routinely bypassed, leaving affected traders to bear the brunt of the system’s failures.
Even more troubling, IEAG said, is the fact that importers whose goods are seized are still charged demurrage fees for delayed clearance—while politically connected buyers avoid such costs and instead pay shipping service charges ranging from GH¢6,000 to GH¢10,000.
“This fraudulent system not only robs importers of their hard-earned capital but also denies the state valuable revenue at a time when Ghana desperately needs every pesewa to stabilise the economy,” the Association stated..
Describing the situation as “predatory and heartless,” IEAG warned that it erodes investor confidence and contradicts government’s own rhetoric on supporting local enterprise.
“How can government, on one hand, call for local business growth, while on the other hand allow such hostile practices that only empower corrupt political cabals to the detriment of genuine traders?” the Association queried.
To remedy the situation, IEAG is calling for:
- Restoration of the full 60-day grace period under the UCL
- A first-time clearance option allowing importers to pay penalties instead of forfeiting goods
- A thorough investigation into the alleged auction cartels
- Immediate intervention by the Bank of Ghana to ensure forex availability at fair and stable rates
The Association warned that failure to act could cripple local businesses and deepen economic instability.
“The IEAG wishes to make it clear that it will not sit aloof while its members are subjected to such exploitation.
“We stand ready to explore every legal and legitimate means, including mass action, should government and relevant authorities fail to act swiftly,” the statement concluded.
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