Ghana needs to pass a competition law and establish an authority to monitor and research into complaints of industry players who feel cheated by acts of their peers.
Presenting a draft research report on measuring the economic impact of competition, Mr. Roghit Singh, a research fellow with the Overseas
Development Institute (ODI), said the absence of legislation on anti-competitive practices did not augur well for the country.
He said appropriate competition policies and the establishment of competitive authority could help to ensure that markets work efficiently and
effectively to deliver economic welfare and growth.
Apart from undermining corruption, competition facilitates international competitiveness, private sector development, employment creation and makes an important contribution to the wider economic growth of
developing countries.
Mr Singh noted that the mobile phone market in Ghana appeared to be well regulated and fairly competitive, and as a result was performing
relatively well with high penetration rates compared to Kenya and Zambia.
"A well-performing and competitive mobile sector with low prices and wide coverage can have significant knock-on-benefit for the economy as a
whole", he added.
Mrs. Kareen Ellis, Business Development Manager of ODI, who presented findings on the sugar industry across five countries, suggested that with private ownership, incentives and better management capacity, the industry could succeed.
The report raised the issue of allegations about anti-competitive practice in the sugar import industry in Ghana, adding that it might be
result of the absence of a competition law and authority operating in the country.