
Audio By Carbonatix
The Ghana Chamber of Commerce (GCC) has expressed worry about what it describes as increasing cost of doing business in the country.The Chamber said the recent increase in fuel prices will adversely affect commercial operators.The President of the Ghana Chamber of Commerce, Seth Adjei Baah told Joy FM that high interest rates, coupled with unreliable power supply, put a heavy strain on businesses.“Even though we are saying Ghana’s economy is growing at a very fast rate, the industry is not growing that much. Last year it grew by 1.7 percent and its industry that creates the volume of employment that we are looking for.”He said utility bills and interest rates for loans are going up, making it difficult for local industries to compete with those from other countries which produce at cheaper rates and export them into Ghana.
Mr. Baah indicated that “the only way to improve the situation is for government to get involved and create the enabling environment.“If we want to create the needed employment through industry in Ghana, then there is a need for government to help to reduce the cost of doing business and by so doing, people will be attracted to go into industry.”He stressed the need to look at other alternatives to revamp the sector, adding that it is not enough to attribute the increment in crude oil and utility bills to global prices, explaining that if the country wants to create opportunities for the youth, then industry must be taken seriously by the government.“When the ordinary man is employed, that is when we are going to get taxes also to run the economy. Those who are not employed are not paying any taxes so we’ve got to find a way to balance the situation,” he stated.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Prudential Life settles GH¢100,000 medical bills under its PRUCares Valentine Experience Initiative
6 hours -
Wa West Picnic: Peter Lanchene Toobu champions peace, health and unity in landmark celebration
6 hours -
Dr Mensah Market flooded after downpour in Kumasi
6 hours -
Armed men reportedly storm Adjen Kotoku Onion Market amid tensions
7 hours -
Tecco Mensah writes: Why football fans must look beyond statistics
8 hours -
Police recover stolen Honda CR-V in Kumasi within 48 hours
9 hours -
Apetorku Gbodzi 2026 Festival opens in Dagbamete with development focus
9 hours -
President Mahama arrives in Lyon to co-chair One Health Summit
9 hours -
Beverly View Plus Hotel draws crowds amid coastal Easter rush in Volta
9 hours -
Maiden Zongo Festival held in Wa amid calls to tackle drug abuse among the youth
9 hours -
FDA warns of fake HIV test kits on Ghanaian market
10 hours -
Africa urged to build resilient health systems as donor support tightens
10 hours -
Easter gesture: Ablakwa settles medical bills for 85 North Tongu constituents
12 hours -
Africa must harness its population strength—Titus-Glover
12 hours -
Visa-free access doesn’t mean unlimited stay – Lom Ahlijah
12 hours