Deputy Minister for Finance, Thomas Nyarko Ampem, has warned that the growing influence of money in African politics is threatening democracy, excluding competent citizens from leadership and weakening public confidence in political institutions.
Speaking at the opening of the 2026 High-Level Regional Convening on the Financialisation of Politics in Africa in Accra on Tuesday, July 14, Mr Ampem said political finance reform must be treated as a development priority rather than merely an electoral concern.
The Deputy Minister delivered the address on behalf of Vice-President Professor Jane Naana Opoku-Agyemang, urging African governments and democratic institutions to confront the increasing commercialisation of politics before it further undermines participation, accountability and public trust.
“Money has always been part of politics. The challenge arises when money determines who can participate, who wins elections, and whose interests are served after victory,” he said.
According to him, the danger is not simply that political campaigns require funding. The deeper concern is the emergence of a system in which access to political office is increasingly determined by a candidate’s financial strength rather than competence, integrity, ideas or commitment to public service.
Rising campaign costs excluding capable citizens
Mr Ampem observed that the rising cost of contesting elections was preventing many capable and public-minded citizens from entering politics.
Nomination fees, party primaries, campaign transportation, media advertising, constituency activities and growing financial demands from voters have made political participation increasingly expensive.
As a result, citizens who may possess the knowledge, leadership skills and commitment required to serve their countries are often unable to compete against individuals with greater access to personal wealth or powerful financial backers.
“Increasingly, those with vision, competence and a genuine commitment to public service are priced out before they even begin,” he stated.
The Deputy Minister noted that the problem did not arise from a shortage of qualified citizens willing to serve. Rather, the financial barriers surrounding elections had become so high that many potentially effective leaders were discouraged from participating.
He warned that when political office becomes accessible mainly to the wealthy and their associates, elections risk becoming contests of financial power instead of competitions based on ideas, policy alternatives and records of public service.
Women and young people disproportionately affected
Mr Ampem expressed particular concern about the impact of expensive political campaigns on women, young people and other citizens who have historically been underrepresented in leadership.
These groups, he explained, frequently have limited access to established fundraising networks, wealthy financiers and the resources required to run competitive campaigns.
The growing financialisation of politics therefore narrows the pool of candidates available to voters and limits the diversity of perspectives represented in Parliament, local government and other public institutions.
When women, young professionals, persons with disabilities and citizens from less privileged backgrounds cannot afford to contest elections, democratic institutions become less inclusive and less representative of the societies they govern.
The Deputy Minister maintained that political finance reform was consequently connected to equality, inclusion and national development.
Risk of political capture
Beyond excluding qualified candidates, Mr Ampem warned that excessive dependence on wealthy campaign financiers could influence the conduct of elected officials after elections.
Candidates who rely heavily on individuals, businesses or interest groups to finance their campaigns may come under pressure to protect the interests of their sponsors after assuming office.
Such arrangements can affect decisions relating to public contracts, appointments, taxation, regulation and the allocation of state resources.
The situation may also encourage elected officials to view public office as an investment whose campaign expenses must be recovered, rather than as a position of public trust.
Speaker of Parliament Alban Bagbin, who addressed the same convening, similarly warned that when money becomes the main determinant of political success, ordinary citizens are shut out and public office risks being treated as a financial investment.
This creates opportunities for corruption, state capture, illicit financial flows and undue influence over public institutions.
Public trust in democracy declining
Mr Ampem said the consequences of unregulated political financing extended beyond candidates and political parties.
He warned that the perception that elections could be influenced by money was contributing to declining public trust in democratic institutions, reduced confidence in political parties and growing voter apathy across the continent.
Citizens may become disillusioned when they believe political parties represent the interests of wealthy sponsors rather than the broader public.
The Deputy Minister cautioned that such perceptions could discourage citizens from participating in elections, joining political parties or engaging with government institutions.
The Accra meeting is taking place amid broader concerns about democratic dissatisfaction across Africa. At the conference, CDD-Ghana Executive Director Professor Henry Kwasi Prempeh cited Afrobarometer findings indicating that more than six out of every 10 Africans were dissatisfied with how democracy was functioning in their respective countries.
Mr Ampem therefore called for political systems in which integrity, competence and public service were rewarded, rather than systems dominated by financial influence.
Ghana’s commitment to reform
The Deputy Finance Minister reaffirmed Ghana’s commitment to improving transparency, accountability and integrity through constitutional, legislative and institutional reforms.
He acknowledged that Ghana still lacked a comprehensive legal framework specifically regulating political party and campaign financing.
Although existing laws contain provisions governing political parties and elections, stronger measures are needed to address campaign expenditure, disclosure of funding sources, donations, enforcement and accountability.
Mr Ampem advocated stronger disclosure requirements, effective enforcement mechanisms and appropriate campaign spending limits. He, however, cautioned that legislation alone would not completely resolve the problem.
Reforms would also require effective institutions, responsible political parties, active civil society organisations, independent media, informed citizens and a political culture that rejects vote buying and the misuse of public resources.
He challenged participants to consider how African countries could organise political life in a manner that allowed ideas rather than money to become the defining force in elections.
Conduct of Public Officers Bill before Parliament
As part of Ghana’s broader integrity and accountability agenda, Mr Ampem disclosed that the Conduct of Public Officers Bill, 2026, was before Parliament.
Parliamentary records show that the bill was laid before the House by Attorney-General and Minister for Justice Dr Dominic Ayine on June 26, 2026.
The proposed legislation is expected to provide clearer standards of conduct for public officials and strengthen mechanisms for preventing conflicts of interest, abuse of office and other forms of misconduct.
Mr Ampem also referred to Cabinet’s approval of a new National Ethics and Anti-Corruption Action Plan, which is intended to strengthen corruption prevention, institutional accountability, coordination among state agencies and enforcement mechanisms. Reports surrounding its approval describe the programme as the successor framework to Ghana’s previous National Anti-Corruption Action Plan.
Accra convening seeks continental roadmap
The three-day High-Level Regional Convening is being held under the theme, “Advancing Reform, Accountability and Democratic Integrity.”
It has brought together government officials, parliamentarians, electoral bodies, anti-corruption institutions, civil society organisations, researchers, development partners and governance practitioners from across Africa.
The meeting is being convened by partners including the African Union Advisory Board Against Corruption, the Ghana Centre for Democratic Development, Open Society Foundations, Transparency International Ghana and the Community of Practice on Political Finance in Africa.
Participants are expected to transform research and discussions on political financing into practical policy proposals and develop a regional roadmap to guide African countries in regulating political finance.
The proposed reforms are expected to cover campaign expenditure, financial disclosure, political donations, enforcement, public education and the protection of democratic institutions from illicit financial influence.
Mr Ampem expressed hope that the Accra meeting would produce more than declarations and lead to measurable reforms across the continent.
He urged African leaders to build political systems in which public service remained accessible to ordinary citizens and money supported legitimate democratic activities instead of distorting electoral competition.
The Deputy Minister maintained that protecting democracy required ensuring that elections were won through credible ideas, competence, integrity and the confidence of citizens—not merely through access to money.
Source: Kwabena Danso-Dapaah
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