Minister of State in charge of Government Communications, Felix Kwakye Ofosu, has assured that President John Dramani Mahama will examine and act on a petition submitted by policy think tank IMANI Africa concerning alleged political interference in Ghana’s insurance industry.

Speaking on Joy News’ The Pulse, Mr Kwakye Ofosu indicated that while he was not fully briefed on the matter, the President would take appropriate steps once the petition is formally reviewed.

The petition, presented by IMANI’s founder Franklin Cudjoe during a civil society engagement at the Presidency, raises concerns about what the group describes as undue political influence distorting procurement processes within the insurance sector.

Titled “Safeguarding Procurement Integrity, Market Confidence, and National Risk Governance in Ghana’s Insurance Sector,” the document alleges that administrative directives are being used to sidestep competitive bidding, leading to what it terms a “systematic takeover” of the industry.

The concerns have also been echoed by business leader Sam Jonah, who warned that the situation is becoming entrenched and poses risks to market stability.

According to IMANI, there have been noticeable shifts in insurance renewals without transparent tendering, declining involvement of non-state insurers in major contracts, and a growing perception that outcomes are predetermined.

GLICO General Insurance is among firms that have reportedly flagged concerns over fairness and regulatory neutrality in the sector.

Mr Cudjoe further reminded President Mahama of a similar controversy in 2014, when concerns over state insurance allocations prompted intervention by his administration to restore competitive practices.

He argued that the re-emergence of such issues presents both a challenge and an opportunity for the President to reinforce transparency and uphold market integrity.