Mahama’s GIPC reforms put consumers first, end monopoly pricing

The People’s National Party (PNP) has lauded President John Dramani Mahama for his decision to review the Ghana Investment Promotion Centre (GIPC) Act, 2013 (Act 865), describing the move as bold, pro-consumer, and a step toward breaking monopolies in Ghana’s trading space.

In a statement issued on August 27, 2025, signed by its Chairperson, Janet Asana Nabla, the party argued that the law, which requires foreign businesses to invest between USD 200,000 and USD 1 million to operate in Ghana, has long served to protect local business cartels at the expense of ordinary citizens.

“President Mahama’s move is a powerful declaration: that the markets of Ghana do not belong to a select few, but to every Ghanaian and every investor ready to play fair, bring in affordable goods, and inject innovation and competition into our economy.”

The party criticized what it described as exploitative practices in the local market, citing the example of a plastic chair sold for GHC64 at China Mall but priced at GHC125 by some Ghanaian traders.

According to the PNP, easing restrictions under the GIPC Act will not destroy Ghanaian businesses but rather challenge them to rise, to innovate, and to compete, while ultimately reducing prices and improving quality for consumers.

The statement reaffirmed the PNP’s commitment to support the Mahama-led administration in ensuring the success of the policy, stressing that the initiative is a pro-poor decision aimed at giving ordinary Ghanaians relief from price manipulation and artificial scarcity.