GUTA President calls for loan repayment moratorium as shipment delays hit traders

The Ghana Union of Traders Association (GUTA) President, Clement Boateng, has implored for a halt to loan repayments to provide traders with some respite amid shipment delays. Speaking on Joy News’ PM Express Business Edition, Mr. Boateng highlighted that shipments from the United Arab Emirates are taking approximately three to four months to reach Ghana, a significant increase from the previous 45 to 60 days.

He pointed to rerouting due to ongoing war and conditions at the Strait of Hormuz as the cause for the extended journey.

Mr. Boateng suggested that the delays impose considerable stress on traders who rely on loans to fund their imports. Repayment commences a month after the loan is taken, regardless of whether the goods have arrived. He has previously championed the need for a grace period on repayments, urging lenders to grant traders additional time before the obligation to start servicing the loans.

His plea focuses on the interval between securing financing to purchase goods and receiving them for customs clearance. With extended shipping times, traders find themselves grappling with repayment demands while waiting for their imports to arrive. Even upon arrival at the port, traders may still endure further delays due to congestion, further prolonging the waiting period.

Despite the challenges, Mr. Boateng noted that the overall business scenario in 2026 has not been entirely unfavorable, though he emphasized the difficulties faced by importers caught between longer shipping durations, port congestion, and loan requirements that begin before their goods are received.