The Association of Ghana Industries (AGI) has renewed its call for fair and sustainable electricity tariffs to support the growth of private enterprises in Ghana. This appeal was made during the AGI Tema Regional Annual General Meeting, which concluded the association’s nationwide series of regional engagements.
Held under the theme “Creating a Conducive Business Environment for Industrial Competitiveness: 24-Hour Economy in Perspective,” the event gathered key industry players and policymakers to discuss challenges affecting the manufacturing sector.
In his keynote address, AGI Chief Executive Officer, Seth Twum-Akwaboah, warned that high energy costs and unstable power supply continue to threaten the survival of local industries. While acknowledging the financial needs of power producers, he emphasized that tariff increases must not cripple businesses.
Mr. Twum-Akwaboah reaffirmed AGI’s commitment to working with government on initiatives such as the proposed 24-hour economy but stressed that broader issues—such as exchange rate instability, excessive taxation, and regulatory bottlenecks—must be addressed to enhance industrial competitiveness.
He praised recent improvements in the cedi’s performance but urged the government to ensure long-term currency stability, noting that some companies suffered financial losses during periods of rapid appreciation. He also called for targeted support for affected businesses.
On taxation, the AGI CEO clarified that the association is not against paying taxes but insisted that tax policies must be structured to strengthen local industries and boost export competitiveness.
Mr. Twum-Akwaboah also identified weaknesses in Ghana’s production value chain, citing inconsistent raw material supply as a major constraint. He explained that industries are often forced to import materials due to seasonal shortages in local production.
In a related development, Dr. Eddie Akwetey, Regional Chairman of AGI Tema, revealed that discussions are underway with the National Industrial Property Development Authority (NIPDA) to acquire additional industrial land, as available space in the main Tema industrial zone is becoming scarce.
The meeting concluded with Samuel Oteng, EPA’s Regional Director for Greater Accra East (Tema), reminding industries to renew environmental permits early to avoid penalties. The event also served as a platform for AGI members to review achievements, assess progress, and plan for the year ahead.