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August 15, 2026
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Drivers warned against charging unapproved fares
Money
Policy
Key Points
- The Concerned Drivers Association of Ghana has cautioned commercial drivers against increasing transport fares without approval from relevant authorities.
- The association stressed that any fare adjustment must follow the required process, involving all relevant stakeholders and awaiting a government consultation period.
- Drivers found charging unapproved fares were warned to stop the practice or risk facing legal action.
- While welcoming a recent GHC2 reduction in diesel prices, the association deemed it insufficient to significantly ease the financial burden on drivers, citing fuel and other operational costs.
- They suggested further fuel price reductions could prevent future fare increases, but warned that sustained high fuel prices might eventually force drivers to demand higher fares to cover operating costs.
Why This Matters
This issue is critical for Ghana as transport fares directly influence the cost of living for citizens and the operational expenses for businesses, impacting overall inflation. Ensuring adherence to approved fare structures maintains order in the public transport sector and prevents arbitrary price hikes that could destabilize the economy and create public unrest.
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- Dr. Boako, a Deputy Ranking Member on Parliament’s Finance Committee, questioned GoldBod's reported GH¢907 million profit, stating an outstanding overdraft would reflect a loss.
- GoldBod labeled Dr. Boako’s claim as “totally false,” a “deliberate and malicious smear campaign,” and demanded a retraction and apology.
- This dispute is set against a broader political and economic debate concerning GoldBod’s financial performance and the accounting treatment of GH¢22 billion losses from the Domestic Gold Purchase Programme (DGPP).
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GoldBod losses remain key on Minority agenda as Parliament reconvenes – Afenyo-Markin
- The NPP Minority Leader, Alexander Afenyo-Markin, reaffirmed the caucus's commitment to investigate a reported US$1.7 billion loss linked to the Bank of Ghana’s Domestic Gold Purchase Programme and the Ghana Gold Board (GoldBod).
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Why celebrate $2.62bn FDI while losing $1.7bn under the Domestic Gold Programme? IERPP asks
- The Institute of Economic Research and Public Policy (IERPP) welcomes Ghana's US$2.62 billion Foreign Direct Investment (FDI) as a sign of investor confidence.
- However, IERPP tempers this optimism with concern over an estimated GH¢22 billion (US$1.7 billion) loss from the Domestic Gold Purchase Program (DGPP).
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