According to the institute, this will help bring competition amongst the various shipping lines while helping to address the issue of the depreciating cedi due to significant funds that are repatriated out of the country by these international liners.
According to a Bloomberg report, the Ghana Cedi depreciated by 18.21 percent against the U.S dollar in the first quarter of 2022. This places the Cedi as the worst-performing currency in Africa while the Angolan Kwanza is the best-performing currency in Africa as it currency appreciated by 24 percent against the dollar.