That was a boost in performance in the second half of the year after a dormant first half.

Mr Michael Achagwe Luguje, the Director General, of Ghana Ports and Harbours Authority (GPHA) said the Takoradi Port performed better in 2023 than in the previous year.

He attributed the boost in performance in the second half to GPHA’s initiatives in collaboration with its external stakeholders, as well as general economic factors.

The initiative included the introduction of a scheme to peg exchange rates charged on transit goods at three-month intervals to avoid increased costs as a result of fluctuating rates.

He said the Authority had earlier in 2023 engaged its stakeholders in Ghana and shipping lines to gather information and facts contributing to the decline in import figures and the findings had been presented to the economic management team of Ghana.

Mr Luguje expressed confidence that measures would be implemented to reduce the rising cost of doing business in Ghana’s seaports.

He said often, people thought GPHA was to blame for the high cost of doing business, adding that the port charges only constituted 10 per cent of the total cost of the clearance.

“A good chunk of it comes from duties and statutory taxes; the government’s attention has been drawn to it, and they are looking at it to see what can be done to reduce it,” he said.

“Apart from that, other operators like shipping lines and freight forwarders also contribute to it.”

He reminded the business community that the cost of doing business in the logistics sector was directly related to the efficiency of port systems and infrastructure.

That was why the GPHA was vigorously pursuing measures to augment ports’ efficiency in a bid to make Ghana the preferred hub in the sub-region.