The Institute of Governance, Ethics and Religion Africa has urged the government to safeguard recent economic gains from sabotage and price manipulation by opportunistic traders.
Paul Abrokwa, President and Chief Executive Officer of the Institute of Governance, Ethics and Religion (IGER-Africa), made the appeal on Monday, highlighting measurable improvements in Ghana’s economy since the start of 2025.
According to Abrokwa, inflation declined from 23.8 percent in December 2024 to 11.5 percent by mid-2025, while the cedi appreciated against major currencies for the first time in years. Treasury bill rates dropped from over 30 percent to approximately 11 percent during the same period.
The advocacy organization leader warned that certain individuals and businesses are attempting to undermine the economic recovery by artificially maintaining high prices despite falling costs, creating what he described as intentional economic sabotage.
Abrokwa called on regulatory authorities to intensify market monitoring and enforce penalties against traders who refuse to adjust prices in line with improved macroeconomic conditions. He emphasized that citizens deserve to benefit from the economic stabilization efforts implemented by the Mahama administration.
The government abolished several taxes in early 2025, including the electronic transfer levy, betting tax, emissions levy and COVID-19 levy. Value Added Tax (VAT) was reduced from its previous rate, with authorities returning approximately 6.5 billion cedis to households through reduced prices.
Fuel prices fell from around 15.45 cedis per liter in January 2025 to 10.99 cedis by January 2026, according to market data. The Bank of Ghana reduced its policy rate from 27 percent in January 2025 to 15.66 percent by year end.
IGER Africa acknowledged the government’s fiscal reforms but stressed that economic transformation requires collective responsibility, including ethical business practices and transparent pricing.
Abrokwa noted that Ghana achieved a primary surplus of 1.9 percent of gross domestic product (GDP) by October 2025, tripling the initial target. Public debt fell from 726.7 billion cedis in December 2024 to 630.2 billion cedis by October 2025.
The organization urged citizens to report businesses engaging in price gouging to regulatory agencies, while calling on the government to establish clearer mechanisms for price monitoring and enforcement across major markets.
