The Minister of Commerce, Agribusiness and Trade, Elizabeth Ofosu Agyare, known as on companies to scale back costs if the financial situations that brought about the value will increase enhance.
Talking on the tenth CEO Summit in 2026, the minister mentioned value will increase could also be inevitable in occasions of forex depreciation, international provide chain disruptions, power crises and pandemics.
Nevertheless, he pressured that firms shouldn’t preserve value will increase as soon as the situations that justify them have been eased.
She says firms that proceed to cost crisis-era costs regardless of chopping working prices threat undermining public belief and damaging the popularity of the non-public sector.
He cited decrease gasoline costs and decrease inflation as examples of enhancements that buyers count on to see mirrored within the costs of products and companies.
He warned that failure to scale back costs when financial situations stabilize might result in a lack of public confidence, elevated social dissatisfaction and weakened confidence in a aggressive and self-regulating non-public sector.
She subsequently urged enterprise leaders to steadiness profitability with fairness and social duty.
“For those who increase costs due to a real emergency, your moral and reputational obligation is to reinstate your costs as soon as that emergency has handed,” she mentioned.
My lord. Ofosu-Agyale added that public belief in enterprise is important to the position of the non-public sector in Ghana’s financial growth and may solely be sustained via accountable and truthful pricing practices.
