Reduce rising cost of energy supply for all in second term – GNCCI urges Akufo-Addo

Chief Executive of the Ghana National Chamber of Commerce and Industry (GNCCI), Mark Badu-Aboagye has appealed to the Akufo-Addo administration to reduce the rising cost of energy across the country.

This comes after President Akufo-Addo in his inaugural speech following his swearing-in for a second term disclosed government’s commitment to extend electricity supply to communities lacking.

Speaking in an interview with Citi Business News, the GNCCI boss stated that it welcomes the move by government as it would enable and boost the operations of businesses in key sectors.

“I think it’s very good and welcomed news. For every business operation, electricity is very key, either in the services sector or agriculture sector. And also, more importantly in the manufacturing sector. So, electricity to all the other parts of the country for us, I think is going to open up a lot of businesses,” Mark Badu-Aboagye explained.

He added, “But let me also be quick and add that it’s not just enough sending electricity to these areas, I think the cost of electricity is also very key. If you look at the cost and compare to other parts of the world, especially even in West Africa, the cost of electricity to businesses in Ghana is very high.”

“If it’s there and the businesses and the SMEs cannot use it, of course, they cannot benefit from it. So, they should also consider the cost and affordability of electricity as well,” Mark Badu-Aboagye pointed.

Meanwhile, figures released from the Energy Ministry showed that access to electricity supply across the country was around 84 percent as at the end of 2020.