Clement Boateng seeks loan moratorium as UAE shipments face four-month delay

Clement Boateng, the President of the Ghana Union of Traders’ Associations (GUTA), has appealed to commercial banks to grant a moratorium on loan repayments for importers facing significant shipping disruptions. Goods arriving from the United Arab Emirates (UAE), which typically take between 45 and 60 days to reach Ghana, are now facing delays of up to four months. This extended timeline has left many traders in a precarious financial position, as they are forced to service debts before their stock arrives.

The GUTA President attributed these extensive delays to a combination of geopolitical instability and logistical bottlenecks. He specifically cited the rerouting of vessels due to ongoing regional conflicts and heightened tensions at the Strait of Hormuz as primary factors for the slower transit times. Furthermore, the situation is being compounded by rising cargo volumes within Ghana, which have led to increased port congestion and slower clearance processes for arriving shipments.

These logistical challenges have created a critical mismatch between traders' cash flows and their debt obligations. Most importers finance their goods through bank loans, with repayment schedules generally commencing one month after the loan is secured. With shipments now taking four months to arrive, traders are required to make several monthly payments before they have any products to sell. Boateng emphasized that this financial strain is unsustainable for the business community and requested that banks offer a grace period until the goods are received and sold.

While Boateng noted that the broader business environment in 2026 is not entirely negative, he maintained that the specific crisis involving UAE shipments requires urgent intervention. He urged financial institutions to show flexibility and adjust repayment timelines to reflect the current reality of international shipping disruptions. Without such support, GUTA warns that many importers risk severe financial distress while waiting for their cargo to arrive at the ports.