Only 5% of Maritime Trade Revenue in Ghana Stays Local – Stanley Ahorlu

The President of the Ghana Chamber of Shipping, Stanley Ahorlu has indicated that the Ghana maritime industry remains overwhelmingly controlled by foreign entities, with local businesses capturing less than 5% of industry revenue.

Speaking on the AM show on Joy News on Tuesday 25th March, Mr. Ahorlu said Ghana’s international trade is heavily reliant on maritime transport, with about 95% of goods entering the country coming from shipping.

“It’s a service. It is good, but it is largely, predominantly foreign. Apart from tax revenue, as business people in Ghana, we’re practically not benefiting from it, from a purely revenue point of view”, Ahorlu stated.

He also spoke about the extent of foreign dominance in the industry, explaining that even ship ownership and management are controlled by external players.

“Even ship agency, we don’t even control that. We don’t have that. That’s all foreign. And so all of that money, that revenue that could come from that part of the value chain is also left for others,” he emphasized, adding; “It stems from the colonial era. Our ports were created for the purposes of taking out our raw materials. Over the years, we’ve enhanced that, exporting raw materials and bringing in finished goods.”

With local players receiving only a small amount of maritime industry revenue, the need for good policies to improve Ghanaian participation in the sector is very important.

Ahorlu warned that Ghana’s heavy dependence on foreign shipping lines will not only affects revenue retention but also pose significant economic and security risks.

“If they decide not to provide that service, then you’re literally at their mercy,” he cautioned.