Accra: Ghana needs a stronger and more coordinated consumer protection regime as banking customers continue to face challenges ranging from unresolved complaints to unauthorized charges, according to a new report by CUTS International Accra. The report, titled "The State of the Ghanaian Consumer 2025," highlights the absence of a unified Consumer Protection Act and a single institution dedicated to consumer rights across all sectors in the country.
According to Ghana Web, the current consumer protection framework in Ghana is fragmented across multiple laws and regulatory bodies, resulting in enforcement gaps that leave consumers vulnerable. The report emphasizes the need for a consolidated approach to enhance consumer protection and address these vulnerabilities.
The report also points out that awareness of consumer rights in Ghana remains low. Many Ghanaians are unaware of the available complaint and redress mechanisms when they encounter poor service or unfair treatment. It calls for increased public education initiatives to empower consumers to assert their rights effectively.
In the banking sector, the report references data from the Bank of Ghana, which indicates that 695 consumer complaints were logged in 2023. However, only 458 of these complaints were resolved, leaving 237 cases unresolved by the end of the year. The issues raised include unauthorized debits, disputed account charges, blocked accounts, ATM-related problems, loan disputes, and delays in processing customer requests.
Additionally, the report notes that many customers have raised concerns about incurring charges when using third-party ATMs, particularly when their own banks' machines are unavailable. The report argues that consumers should not have to bear the cost of service failures that are beyond their control.
To address these issues, the report calls for stronger regulatory oversight and more effective enforcement measures to ensure that financial institutions uphold consumer rights.