GTYA Urges Government to Regulate Markets to Ensure Economic Gains Reach Consumers

Green Tax Youth Africa (GTYA) has called on government to introduce stronger market regulations to ensure that recent macroeconomic gains translate into real relief for consumers.

The youth-led policy advocacy group commended the Ministry of Finance and the Ghana Revenue Authority (GRA) for rolling out new measures aimed at closing the revenue mobilisation gap within the informal sector, describing the initiative as innovative and critical to widening the tax net and strengthening domestic revenue generation.

However, GTYA expressed concern that despite notable macroeconomic improvements recorded between March and December 2025 — including the appreciation of the Ghana cedi and a decline in inflation — prices of goods and services remain stubbornly high.

According to the group, costs across key sectors such as transport, electricity, water, rent, food and basic services have not fallen, leaving households under continued financial strain. GTYA noted that the 2025 Christmas season further exposed the hardship faced by consumers, as market prices remained elevated.

Speaking on the issue, Executive Director of GTYA, Mr. Nii Addo, stressed that Ghana’s free market system can only deliver consumer relief when backed by strong and intelligent regulation.

He argued that appeals for businesses to voluntarily reduce prices will not succeed unless government undertakes reforms to address the structural cost drivers that influence market behaviour.

“The absence of effective competition oversight, price transparency mechanisms and seasonal market regulation continues to undermine consumer welfare and weakens public confidence in economic policy,” Mr. Addo said.

“If government wants businesses to pass economic gains on to consumers, it must change how the economy is structured and regulated. Moral persuasion without policy reform will not work,” he added.

Recommendations

As part of efforts to promote inclusive economic recovery, GTYA outlined several recommendations for government consideration:

The group called for the adoption of seasonal price stabilisation measures, stronger enforcement of competition laws, and better alignment of fiscal, trade and industrial policies to reduce the overall cost of doing business.

It also urged government to review and rationalise the multiple taxes and levies contributing to high fuel prices, proposing a cap of GH¢2 per litre on fuel levies to ease transportation and commodity costs.

GTYA further recommended freezing the quarterly utility tariff adjustments and replacing them with a more predictable annual tariff framework aligned with income levels, industrial needs and inflation trends.

In addition, the organisation called for enhanced monitoring and enforcement powers for the National Competitive Commission to prevent price fixing, cartel behaviour and monopolistic practices in essential commodity markets.

The group also advocated for a reduction in the tax burden on local manufacturers, coupled with increased investment in industrial zones to lower production costs and reduce dependence on imports.

Conclusion

GTYA concluded that Ghana requires a people-centred economic model in which macroeconomic gains translate into tangible improvements in living standards.

According to the group, structural reforms and stronger consumer protection policies remain the most credible pathway to ensuring that economic recovery is felt by ordinary Ghanaians, particularly the youth and women.