GUTA calls for bank loan repayment relief as import delays hit traders

The President of the Ghana Union of Traders’ Associations (GUTA), Clement Boateng, has called on banks to grant importers a moratorium on loan repayments as delays in shipping and clearing goods continue to put pressure on their businesses.

He said traders who depend on bank loans to finance imports were struggling to meet repayment obligations while their goods remained in transit, sometimes for months beyond the expected delivery period.

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Speaking in an interview with Joy News on Thursday, Boateng explained that banks usually begin demanding repayments a month after a loan facility is granted, regardless of whether the imported goods have arrived and been sold.

“And assuming you've gone to take a facility from the bank, they will be on your neck because once you take a facility from them, the repayment starts the following month,” he said.

According to him, shipments that previously took between 45 and 60 days to arrive were now taking about three to four months, leaving importers waiting longer to access their goods.

He added that the situation was compounded by congestion at the ports, where rising cargo volumes were contributing to delays in clearing imported goods.

“As far as clearance is concerned, at the port, because of the huge volumes of cargo that is coming now, it has also resulted in some delays,” he said.

Boateng argued that a moratorium would give traders sufficient time to receive their shipments, clear them at the ports and begin selling their goods before loan repayments become due.

Although he described business conditions in 2026 as generally not bad, he said the combination of longer shipping times, port congestion and immediate loan repayment obligations was creating additional difficulties for traders.

He attributed the shipping disruptions partly to the war and developments around the Strait of Hormuz, which he said had extended delivery times for goods coming from the United Arab Emirates (UAE).

ANAS/MA

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