High utility costs could undermine 24-Hour Economy policy - GUTA

The Ghana Union of Traders Associations (GUTA) is warning that the government risks undermining the full potential of its 24-Hour Economy policy if it fails to address the country’s rising utility costs.

According to GUTA, Ghanaian traders are struggling to export goods and produce due to high utility rates.

The union added that this is fast becoming a major concern for local businesses.

Speaking at a press conference on October 6, 2025, GUTA President Joseph Obeng stated that local businesses can only remain competitive if the economy and tax policies are favorable to traders.

"It's important that we don't have to continue to increase and increase whilst businesses suffer the way we are suffering. That does not make us competitive at all. We all realise that we are doing the African Continental Free Trade Area, and Ghana is lagging behind. We are not competitive. Our goods cannot even be sold in Togo. It doesn't go beyond," he said.

He added that higher utility rates are undermining Ghana’s industrialisation agenda, especially as the government begins rolling out its 24-Hour Economy Plus programme.

"Why? Because of high cost of doing business here, especially with regard to utility charges. It does not help us. And we should know, the earlier we know these issues and put it in proper context, we are not going to industrialise all the 24-Hour Economy that we want to propagate. We will just be in a mess," he stated.

SP/AE

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