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Chief Executive Officer of the Consumer Protection Agency (CPA), Kofi Kapito, has urged government to avoid heavy-handed interference in private business, warning that inconsistent policy application discourages investment and undermines Ghana’s economic growth.
Speaking on the Asaase Breakfast Show on Tuesday (30 September), Kapito argued that while businesses must comply with national regulations, government should set clear policies and enforce them fairly rather than changing the rules midstream.
“You don’t change the goalposts whilst the game is being played,” he stressed. “Ghana writes policies very nicely, but our challenge has always been implementation. If we enforce them transparently and above board, investors will stay. But when government appears biased against particular companies, investors run away.”
He recalled recent tensions between the Trade Ministry and cement producers, saying that although citizens want lower cement prices, flexing political muscle over private business was counterproductive.
Kapito advised President Mahama’s incoming administration to support indigenous businesses with soft loans and long-term policies that allow them to grow into national champions.
“Countries like Korea and China built global brands such as Hyundai and Huawei by protecting and supporting local firms,” he said. “In Ghana, internal politics often means that if one government supports a local business, the next administration ensures it collapses. Until we change this mindset, foreigners will always take advantage of us.”
He warned that many investors have already relocated to neighbouring Ivory Coast due to Ghana’s unstable policy climate and called for an end to partisan approaches that stifle entrepreneurship.
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