Ghana must reduce the cost of politics to curb influence of wealthy financiers – Development Economist

Development Economist and Chartered Accountant, Valentin Kwasi Mensah, PhD, has called for reforms to reduce the rising cost of political competition in Ghana, warning that excessive campaign spending could increase politicians’ dependence on wealthy financiers.

In an opinion piece on the state of the country's politics, he argued that the growing financial demands of winning elections risk turning public office into an investment, with political sponsors expecting rewards when their preferred candidates assume power.

He cited a warning by former President Jerry John Rawlings in November 2010 about political parties relying on financiers who “naturally expect to be rewarded when elections are won”.

According to Dr Mensah, such financial relationships could create opportunities for political sponsors to demand appointments, government contracts and privileged access in return for their support.

He referenced research by the Centre for Democratic Development (CDD-Ghana) and the Westminster Foundation for Democracy, which found that parliamentary campaign costs increased by 59 per cent between 2012 and 2016.

Dr Mensah said Ghana already had constitutional and legislative provisions requiring political parties to disclose their sources of funding and expenditure, but enforcement remained a major challenge.

He pointed to Article 55 of the 1992 Constitution and the Political Parties Act, 2000 (Act 574), which require political parties to submit financial statements and audited accounts for public scrutiny.

He also recounted his January 28, 2025, request to the Electoral Commission for the 2023 financial returns and audited accounts of the New Patriotic Party (NPP) and the National Democratic Congress (NDC).

He said the Commission acknowledged receipt of his request but had not responded despite repeated follow-ups as of November 1, 2026.

Dr Mensah stressed that the country needed an independent regulator with adequate constitutional protection to oversee political party financing and ensure compliance with disclosure requirements.

He further proposed campaign expenditure limits, timely disclosure of significant donations, stronger enforcement of existing laws and improved internal party democracy.

“Political rivalry will continue,” he said, adding that electoral competition should reward ideas, competence and public service rather than create obligations to private financiers.