While consumer rights advocacy often centers on protecting the public, a report by CUTS International Accra, has revealed a less-discussed but equally critical aspect of the business impact in disregarding consumer protection.
The report showed that 55.5% of telecom users and 76% of online shoppers are unaware of redress mechanisms, leading to widespread dissatisfaction.
In banking, high fees and unauthorized transactions were largely unreported due to a lack of awareness of complaint procedures.
This signifies that poor consumer trust in Ghana’s regulatory frameworks poses long-term risks to businesses, especially in telecommunications, banking, and e-commerce.
Mr Appiah Kusi Adomako, West Africa Regional Director of CUTS International Accra said, “when consumers feel powerless, they disengage from services or seek informal, less reliable alternatives, adding that, “in the long run, this undermined brand loyalty, reduces market growth, and threatens industry stability.”
However, the reluctance of businesses to support consumer empowerment initiatives further complicates the issue. The report indicated a struggle of over a decade to secure funding and support for its research, signaling a widespread lack of commitment to genuine consumer protection.
Nonetheless, financial institutions, telecom companies, and e-commerce platforms risk reputational damage as public awareness grows.
As the government pushes for a comprehensive Consumer Protection Law, companies that fail to adapt to a more regulated environment would face penalties, increased scrutiny, and diminished public trust.
Importantly, companies that proactively improve customer service, create transparent complaint processes, and collaborate with regulators would build stronger relationships with consumers, ultimately benefiting their bottom line.
In addition, the need for urgent reforms is not just about protecting consumers, it’s about creating a business environment that values accountability, fosters growth, and strengthens the economy as a whole.
