The Chairman of the Consumer Protection Agency, Mr. Kofi Owusu Hene aka Kofi Capito, has indicated the 43% increase in the cost of Third-party Motor Insurance for vehicles was reached without any form of broader consultation with major stakeholders.
Reacting to the 43% increase effective 1st January 2023, Kofi Capito who was speaking during a Citi Eye Witness News monitored by GhanaEducation.org stated that the private car owners were not invited to a meeting to discuss the increase.
He furthered that more consultation has to be done with all stakeholders and not only Trotro Drivers to ensure the greater number of car owners in the country who are private individuals have their interests considered.
The new 43% increase in Motor Insurance for Third party insurance will be as follows.
Motorbikes Third Party Insurance will move from GHS 193.00 to GHS243.00
Taxi Third Party Insurance will move from GHS 568.00 to GHS6180.00
Private Salon Car Third Party Insurance will move from GHS 423.00 to GHS438
12 Person passenger Trotro Third Party Insurance will move from GHS 634.00 to GHS717.00
15 Person Trotro Third Party Insurance will move from GHS 658.00 to GHS753.00
23 Person Trotro Third Party Insurance will move from GHS 722.00 to GHS849.00
A big truck Third Party Insurance will move from GHS 853.00 to GHS903.00
READ: Learn How to Drive With The Best Driving Learning Apps
Kofi Capito argued strongly that if there was broader consultation, the current 43% increase would not have been agreed upon and that those consulted such are Trotro drivers do not have issues with the increment since they can transfer the cost to their passengers through transport fares, unlike the private car owners who were not part of the consultation that led to the current upward adjustment.
The Ghana Education News Editorial Team is a specialized collective of education researchers, journalists, and policy analysts dedicated to providing high-fidelity reporting on the Ghanaian academic landscape. Serving as a primary bridge between governing bodies—including the Ghana Education Service (GES) and WAEC—and the public, the team leverages over a decade of combined experience to serve students, parents, and educators nationwide.
Lead Architect & Editor-in-Chief
The team is led by Wisdom Kojo Eli Hammond, a distinguished Ghanaian Edu-Tech Entrepreneur, AI Solutions Developer, and Product Architect with over 25 years of cross-disciplinary experience in education, finance, and digital media. Wisdom is the visionary force behind SkulManager, Ghana’s premier school management ecosystem, and the Lead Consultant at Education-News Consult.
A self-taught innovator, professional Web Designer, and regular columnist on GhanaWeb, Wisdom engineered SkulManager.com as the only platform strictly tailored to the GES Curriculum. His technical leadership has redefined educational assessment through a Hybrid Marking Ecosystem, pioneering the BECE and WASSCE Home Mock services—a unique fusion of WAEC-trained human examiners and advanced AI marking engines operational since 2022.
Wisdom’s 360-degree view of institutional challenges is grounded in his tenure as College President and Lecturer at Pinnacle College (Achimota), as well as his background as a school administrator and accountant. He is a dedicated lifelong learner currently advancing his studies at the Accra Institute of Technology (AIT), with academic ties to the University of Professional Studies, Accra (UPSA).
An accomplished author, his works include Returnees of the Dead Forest (UK Published), Simplified Beacon of Light (850+ Q&A), and The Leader in Me. A foundational pillar of the award-winning NGO Human Rights Reporters Ghana (HRRG), Wisdom is committed to building intelligent systems that solve societal problems and prepare the next generation of Ghanaian students for a digital future.
Contact: 0550360658 | Portals: GhanaEducation.org, GhanaEducationNews.org, SkulManager.com, BECEPrep.com. Educationnewsconsult.com etc