The Ministry of Trade, Agribusiness, and Industry has announced plans to launch a nationwide consumer price transparency application to promote fair pricing and protect buyers from arbitrary market practices.

The Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, made this known at the Government Accountability Series briefing in Accra on Wednesday, January 21, 2026.

She said the digital system will give traders the chance to post their prices, allowing buyers to check and compare costs in various markets before deciding what to buy. The move is meant to do away with price controls, which often interfere with normal market activity and can cause shortages.

“We will not control prices,” she said. “But we will make prices available for people to choose from.”

Mrs. Ofosu-Adjare explained that the policy reflects current trading trends and the increasing use of mobile phones nationwide. She added that making prices open to the public will encourage competition, as sellers charging more will be compelled to reduce their prices when customers choose cheaper options elsewhere.

“If we have the same piece of paper and I am selling mine at a thousand cedis and you are doing yours at 200 cedis, then the buyer will decide whether he or she is a Father Christmas to give me 800 more or is a prudent buyer and will buy from you,” she stated.

The Minister referred to her recent visits to key commercial areas like Abossey Okai and Kantamanto, observing that prices for some essential goods have fallen compared to last year.

For instance, engine oil has decreased from GH¢600 in 2024 to about GH¢350; a bag of kokonte from GH¢1,200 to GH¢900; charcoal from GH¢140 to GH¢100 per sack; laundry soap from GH¢30 to GH¢23; and yam from GH¢35 to GH¢30. She noted that similar price drops have been reported on social media, showing reductions across markets nationwide.

On cement, the Minister said the government is enforcing a Legislative Instrument that requires manufacturers to declare their ex-factory prices by the eighth day of each month. Producers have been reminded of their obligations, and any price increases will not be accepted without these declarations.

She added that 42.5-grade cement, which cost GH¢117 in 2024, now sells at about GH¢107, while 32.5-grade cement has fallen from GH¢105 to between GH¢80 and GH¢85.

Mrs. Ofosu-Adjare also revealed that the Ministry of Finance has provided funding to support the government’s 24-hour economy initiative. She explained that the policy has a working secretariat and covers multiple sectors, with the Trade Ministry collaborating with industries on financing and raw material access to allow operations across three shifts.

On Wednesday, May 14, Honourable Elizabeth Ofosu-Adjare met with industry players over the reduction of food prices.

Her meeting with the leadership of the Ghana Union of Traders Association (GUTA), Association of Ghana Industries (AGI), and the Food and Beverage Association of Ghana (FABAG) came at a time when the local currency is appreciating against foreign currencies.

But the change is yet to reflect on goods, prompting calls for stakeholders to take action.During the meeting, the Minister indicated that the power to adjust goods and services does not lie in the hands of the government but with traders.

She made during a meeting with the leadership of the Ghana Union of Traders Association (GUTA), Association of Ghana Industries (AGI), and the Food and Beverage Association of Ghana (FABAG) on Wednesday, May 14.

“The meeting has been fruitful and we have said that the government does not have the power to control prices, but it has the power to negotiate with our stakeholders to ensure traders, manufacturers, and consumers to ensure that they take advantage of opportunities when they happen."

“I am happy to inform you that the direct importers have agreed to reduce their prices, some have already started that. We have also heard from GUTA and AGI that it is good that the Cedi has stabilised but they need a bit of time for it to reflect in the prices. It will happen gradually,” she stated.

Meanwhile, players in the business community had argued that the significant reduction in the prices of goods and services cannot occur over time, despite the cedi appreciating against the dollar.

According to the Dean of the University of Cape Coast School of Business, Professor Gatsi, most traders and businesses are yet to sell off old stock that were bought at higher exchange rates.

He added that the situation may delay the immediate price adjustment in goods and services.

In May last year, many Ghanaians expressed the expectation that traders would reduce the prices of goods and services following the gains made by the cedi against major international currencies.

Speaking in an interview on JoyNews, the sector minister said the best approach would be to engage trader associations through a series of discussions.

“We all know that in Ghana, we don’t control prices, and so the government cannot really push price reduction on them. But because we work together, we can always discuss and see how the stable cedi will benefit both consumers and traders."

“If the dollar is this stable and has appreciated this much, I think that we need to regroup and see the way forward,” she added.