Speaker of Parliament, Rt. Hon. Alban Sumana Kingsford Bagbin, has raised concerns over what he describes as the growing influence of money in politics, warning that the trend is undermining democracy across Africa and weakening public confidence in governance.
Addressing participants at the High-Level Regional Convening on the Financialisation of Politics in Africa in Accra, Speaker Bagbin said the increasing role of money in electoral politics poses a serious threat to democratic institutions and the credibility of public office.
He argued that politics is increasingly being driven by financial interests rather than public service, with campaign financing, vote buying, and the capture of state institutions by powerful interests gradually eroding democratic values.
According to him, when financial resources become the defining factor for political success, elected positions risk being viewed as investments to be recouped instead of positions of public trust.
“The result is a steady decline in public confidence in democratic institutions and growing disengagement by citizens from the political process,” he noted, stressing that the challenge has evolved into a crisis of democratic integrity that demands immediate and practical action.
Speaker Bagbin also highlighted Ghana’s leading role in advancing global efforts to improve transparency in political financing.
He noted that Ghana played a key role in the adoption of United Nations Resolution 11/7 during the 11th Conference of State Parties (CoSP 11) held in Doha, Qatar, in December 2025.
The resolution, jointly sponsored by Ghana, Norway and Mongolia, calls on countries to strengthen transparency and accountability in the financing of political parties, election campaigns and candidates.
He commended Ghana’s Ambassador, Matilda Osei-Agyeman, for her leadership and diplomatic efforts, describing the adoption of the resolution as a significant milestone in the international campaign against corruption.
However, the Speaker emphasized that the passage of the resolution alone would not be enough.
He urged governments and legislatures to transform the international commitment into effective domestic laws, robust regulatory frameworks and strong oversight institutions capable of enforcing transparency in political financing.
Speaker Bagbin further outlined a number of institutional reforms being implemented within Ghana’s Parliament to strengthen accountability and ethical governance.
Among the reforms is the establishment of a Legal and Governance Services Division, which will include specialised departments responsible for anti-corruption, investigations and human rights.
He also announced the creation of a new Ethics and Standards Committee, which will be supported by an independent Commissioner to reinforce ethical conduct and institutional accountability within Parliament.
Drawing on his roles as President of the African Parliamentarians Network Against Corruption (APNAC) and Vice President of the Global Organization of Parliamentarians Against Corruption (GOPAC), Speaker Bagbin called on lawmakers across the continent to take a leading role in promoting integrity in political financing.
He challenged fellow parliamentarians to reflect on whether existing political systems provide equal opportunities, ensure transparency and maintain public confidence in democratic governance.
He stressed that safeguarding integrity in political finance goes beyond fighting corruption, describing it as essential to preserving democracy itself.
Bagbin concluded by encouraging African countries to strengthen cooperation through the exchange of experiences and best practices, saying no single nation possesses all the solutions to the challenges confronting democratic governance.
He expressed confidence that through collaboration, transparency and stronger institutions, African countries can reverse the current trend and build more accountable and resilient democracies.
By 1960news.com
