IMANI Africa, in partnership with the University of Professional Studies, Accra (UPSA), yesterday hosted an Economic Freedom Lecture Series, challenging students and policymakers to rethink the government’s role in the economy. The event, held under the theme “Addressing the Impact of Government Interventionism on Entrepreneurship and Innovation,” sparked discussions on the fine line between necessary regulation and stifling control.
The purpose of the lecture was to demystify free market principles. The core message was that while the government has an important role to play, its primary function should be to enable, not to dominate, the market.
The event featured insights from IMANI Africa’s leadership. Ransford Brobbey, an Associate Researcher with IMANI, opened the discourse, setting the stage for a dive into economic policy.
Speaking to the students on free market, Brobbey noted that “regulatory interventions in the cement manufacturing sector, particularly L.I 2491 had weak evidence to support it since the Ghana Standard Authority and industry data show cement inflation increased significantly less than annual CPI between 2022 and 2024.”
He added that the implementation of the Cash-Based Revenue Management (CRM) system was expected to revolutionize the LPG sector, enhancing efficiency and accessibility. However, a closer examination reveals some unexpected outcomes.
“Likewise, while Cylinder Recirculation Model moderately aligns with free market principles it’s initially neglected players at the end of the LPG value chain. 2025 CBOD report shows CRM volumes contributed to less that 1% of LPG consumption since its roll out, albeit, it’s promising,” Brobbey said.
Kofi Bentil, Vice President of IMANI, during questions and answers delivered an argument against excessive government interference. “The government regulating the market is good but it should not interfere in the market. Freedom is a fundamental thing,” he said.
He drew on Ghana’s economic history, recounting a period when the government seized private industries, sold them off at reduced prices through corrupt practices, leading to their eventual collapse. “We used to have a lot of industries but now, where are they? When government created the industries they all collapsed; however, when the government encourages industries to be created, it survives because there’s a private interest and that will lead to employment,” Bentil explained.
He cautioned against short-term populist policies, such as forcing the sale of goods at artificially low prices, which ultimately kill production and create long-term scarcity. “The consequence was a widespread reluctance among people to invest, driven by fear of similar government actions,” he said.
Bentil’s advice to the students was twofold. First, he urged the government to prioritize “long-term benefits over short-term benefits.” He clarified that this does not mean a completely hands-off approach. The government, he argued, has the right to scrutinize companies making “abnormal profits” and negotiate for fairer pricing, ensuring a balance between business viability and consumer welfare.
Second, he advised the students to cultivate self-reliance. “Train yourselves from asking everything to be done for you,” he urged, outlining the government’s core mandate: to provide public goods that individuals cannot efficiently secure for themselves, such as roads, telecommunications infrastructure, and drainage systems.
The theoretical discussions were grounded in practical examples. Franklin Coudjoe, Founding President of IMANI, highlighted the issue of smuggling and the Komenda Sugar Factory as a case study in flawed interventionism. As a policy think tank, IMANI had foreseen the factory’s failure, arguing that the required investment and planning were insufficient from the outset.
Furthermore, scenarios from the Ministry of Communication’s interventions in the pay-TV market, specifically concerning DSTV, were used to illustrate how government interference in commercial pricing can create market uncertainties and discourage investment.
The lecture served as a platform for equipping the next generation of Ghanaian leaders and entrepreneurs with the principles of economic freedom. The consensus was for entrepreneurship and innovation to truly thrive, the government must shift from being a market player to a visionary regulator and enabler, creating an environment where private initiative and investment can safely flourish.
