Review of electricity tariffs should be without additional cost – GNCC

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The Ghana National Chamber of Commerce and Industry (GNCC), has welcomed governments quest to review downwards electricity tariffs by 13% in 2018 but has called for the review to be done without incurring additional costs.

According to the Chamber, though energy remains critical to business operations, it was important that such proposed reviews are done within the legal and acceptable framework which will not cost the nation.

Speaking during the median edition of the Chamber’s Business Awards by the Chamber of Commerce and Industry, the  President, Nana Dr. Appiagyei Dankawoso I, called for a holistic approach to the proposed downward review of electricity tariffs which he admits will ease the cost of doing business in Ghana.

“The 2018 budget prioritises industrialisation, agriculture, and entrepreneurship backed by a robust financial architecture towards consolidating the gains of maintaining fiscal and monetary discipline. We welcome government’s proposed downward review of electricity tariffs in easing the cost of doing business but this should be done without incurring additional costs.”

He further stated that “indeed, energy is critical to business operations and it is our expectation that government will ensure an efficient and competitive energy sector along the various channels of power production, transmission, and distribution characterized by reliable power supply. Where strategically appropriate, diversification and attracting major strategic investors into the sector should be in the best interest of the Ghanaian businesses.”

The Chamber’s President Nana Dr. Dankawoso I, expressed the chambers appreciation of government’s pursuit of business-friendly policies and programmes such as e-business registration system, paperless port system, digital addressing system, mobile interoperability, and the National Identification Scheme.

Commenting on the awards he said 80 nominations were shortlisted and assessed based on the seven criteria of the awards namely: Thought Leadership Engagement, Innovation and Technology, Corporate Social Responsibility, Customer Relationship Management, Annual Turnover, Profit, and Tax Compliance.

The Minister of Trade and Industry, Allan Kyeremanteng in his address commended all award winners for their contribution to the country’s business development, saying government would continue to provide business regulatory environment for the whole continent.

He disclosed that, the Government was working assiduously to improve the country’s ranking on the World Bank Doing Business Index through the establishment of an electronic registry of business regulation and would prevent the situation where individual public servants would determine which regulations applied at what time for business enterprises in the country.

Mr Kyeremanten said his Ministry was committed to establishing a public consultation web portal to allow business ventures to make comments on the type of regulations that affected their businesses for redress.

‘We are also planning to establish business regulatory reform units in all the Metropolitan and District Assemblies to enable the assemblies to make an input on the quality of reforms needed for businesses to thrive,’ he added.

The event which was highly patronized was on the theme; “Enterprises in Transition: Recognising Innovative Businesses in Ghana,” and had President Nana Addo Dankwa Akufo-Addo who graced the occasion as the Guest of Honour.

2016 Chamber Award Winners

Chief Executive Officer of B-BOVID, a Ghanaian agricultural business based in Pretsir in the Ahanta West District of the Western Region, was crowned the Chamber Businessman of the year 2016.

B-BOVID his company was also recognized as the Innovative Agribusiness Company (Primary) of the year 2016.

Mrs Bella Amu, the Director of Traffix Catering Services, won the Chamber Businesswoman of the Year, while Mr. Micheal Bozumbi, the Head of Petrosol Company Limited, won the Young Entrepreneur of the Year.

Chamber Administrator, Mr Wilson Atta Krofah, was awarded for long service, while Dr Kwabena Dufuour won the Young Business in Banking and Finance.

Other winners included Coca Cola Company Limited, Berock Ventures Limited, Tobinco Pharmaceutical Limited, Accra City Hotel, Dalex Finance, Royal Crown Package Limited won the Emerging Business of the Year.

The awards comprised 16 categories including manufacturing, logistics, guest accommodation, banks, mining, oil and gas, and professional services.

Credit: B&FT

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