Mr. Richard Adjorlolo, an entrepreneur and accountant, has called for stronger regulation of the private sector in Ghana to protect consumers from excessive pricing and abuse of dominant market positions. He stated that while the free market allows businesses to make profits, it should not justify "daylight robbery" through excessive charges, particularly for essential services. Speaking to the Ghana News Agency in Takoradi, Mr. Adjorlolo emphasized the need for a balance between profit and consumer protection.
Mr. Adjorlolo cited the reported GH¢5.1 billion profit after tax recorded by MTN Ghana in the first half of 2026, representing a 43.3 percent year-on-year increase, as an example of excessive profit. He noted that this figure was higher than the combined profits of 17 leading Ghanaian companies, which stood at GH¢4.58 billion. This, he said, raised questions about what constituted reasonable and morally justifiable profit.
The entrepreneur also referred to a proposal by MTN Ghana in May 2026 to introduce charges on transfers from Mobile Money accounts to bank accounts, which was subsequently rejected by the Bank of Ghana. He questioned whether exceptionally high profits necessarily reflected superior performance or, in some instances, could be linked to high prices, limited alternatives, and market dominance.
Mr. Adjorlolo expressed concerns about MTN's position in Ghana's telecommunications market, with a reported market share of more than 72 percent and a subscriber base of about 31 million. He said this raised concerns about competition and the possible abuse of market dominance. The issue, he emphasized, was not whether private companies should make profits, but whether those profits were achieved through fair competition, efficiency, and quality service.
The entrepreneur criticized the growing tendency of businesses to justify high prices on the basis of "customer choice." He argued that consumers did not always have meaningful choices because services such as internet data, education, healthcare, and financial services had become essential to work, education, and everyday life. Mr. Adjorlolo also raised concerns about the pricing of cement, private school fees, internet data, bank lending rates, and pay-TV services.
Mr. Adjorlolo called for stronger regulatory scrutiny of possible price-fixing and anti-competitive practices. He proposed closer regulatory oversight of sectors such as education, health, and telecommunications, where excessive charges could have serious consequences for consumers. The entrepreneur emphasized that regulation was not inherently anti-business and could create a healthier business environment by promoting fair competition and protecting consumers.
Mr. Adjorlolo urged the Government and regulatory institutions to strike a balance between encouraging private-sector investment and ensuring that businesses operated in a manner that protected the broader public interest. He called for a review of Ghana's regulatory framework to ensure that the benefits of private-sector participation and the free market were broadly shared and did not come at the expense of consumers.
Key points
- Mr. Richard Adjorlolo calls for stronger regulation to protect consumers from excessive pricing and abuse of dominant market positions.
- The entrepreneur cites MTN Ghana's GH¢5.1 billion profit as an example of excessive profit.
- Mr. Adjorlolo proposes closer regulatory oversight of sectors such as education, health, and telecommunications.
