The Importers and Exporters Association of Ghana (IEAG) has met with the Governor of the Bank of Ghana (BOG), Dr. Johnson Pandit Asiama, to discuss economic issues affecting trade and business growth in the country. The meeting took place at the Bank of Ghana’s headquarters, Bank Square, in Accra.
The delegation, which was led by the Executive Secretary of the Association, Mr. Samson Awingobit Asaki, was warmly received by the Second Deputy Governor of the Bank, Mrs. Matilda Asante-Asiedu. The visit was described as a courtesy call but also served as an opportunity to strengthen the relationship between the Central Bank and players in the import and export sector.
Mr. Awingobit Asaki commended the Bank of Ghana for its role in stabilising the Ghanaian cedi, which has been under pressure in recent years. He noted that the consistent efforts of the Bank in managing inflation, stabilising the exchange rate, and improving the country’s overall macroeconomic outlook have brought some level of relief to businesses, especially importers and exporters who are directly affected by exchange rate fluctuations.
According to him, the policies introduced by the Central Bank under the leadership of Dr. Johnson Asiama have helped in restoring some confidence in the Ghanaian economy. He further called on the Bank to continue providing the needed support to businesses, as their activities remain vital to Ghana’s economic growth and development. Mr. Awingobit also urged the staff of the Bank and the wider Ghanaian public to give their full support to the Governor and his team in their efforts to stabilise the economy.
The IEAG leader explained that importers and exporters are critical players in the Ghanaian economy, as they provide jobs, pay taxes, and facilitate international trade that sustains government revenue. He said many businesses face challenges linked to the cedi’s depreciation, high inflation, and rising cost of borrowing. He stressed that constant dialogue with the Bank of Ghana would help address some of these challenges and make the business environment more stable and predictable.
In response, Dr. Johnson Asiama assured the association that the Central Bank remained committed to supporting the business community across the country. He said the Bank understood the crucial role played by traders, importers, and exporters in sustaining economic activities and would continue to create policies that make it easier for them to thrive.
The Governor promised that the Bank would not only focus on monetary stability but also ensure that its policies reflect the realities faced by businesses on the ground. He emphasised that the Central Bank’s goal is to ensure that Ghana maintains a strong economy capable of supporting job creation, reducing poverty, and encouraging investment.
Mrs. Matilda Asante-Asiedu, who hosted the delegation on behalf of the Bank, added that such engagements between the Central Bank and trade associations were very important for building trust and understanding. She encouraged more open discussions in the future to ensure that concerns of business operators are heard and properly addressed.
The visit comes at a time when Ghana, like many other African countries, is trying to stabilise its economy after facing global shocks that affected trade and supply chains. Importers and exporters in Ghana have repeatedly called on the government and regulators to provide more support in easing the challenges of doing business, including high port charges, currency depreciation, and limited access to affordable credit.
Economic watchers believe that stronger collaboration between the Central Bank and key business groups like the IEAG could help strengthen Ghana’s economic resilience. Many argue that importers and exporters, who deal directly with international markets, are in a good position to provide useful feedback that can guide monetary and trade policies.
The meeting between IEAG and the Bank of Ghana is seen as a step towards promoting a more business-friendly environment. It also signals the Central Bank’s willingness to engage directly with stakeholders in the private sector to find lasting solutions to the country’s economic challenges.
As the country looks ahead, traders, importers, and exporters continue to hope that the cedi will remain stable, inflation will be contained, and borrowing costs will reduce to allow businesses to grow. For now, the assurance from Dr. Asiama and his team has given the business community some optimism that the Bank of Ghana is ready to partner with them for national growth.
