January 2019

Despite the relative stability in power supply, cost of electricity was still a major challenge to young businesses in Ghana. According to CEO of Ghana Chamber of Young Entrepreneurs, Mr. Sherif Ghali, the current average bill of GH¢562 a month was a major challenge to members of the chamber. “I remember last year if not for our intervention, three of our members would have closed down their printing shops in New Town because of cost of power,” he lamented. He however asserted that, “I hope this will not be the usual talk show but a reality. Anyways this government has proven their commitment to supporting the growth of the private sector and we believe if unremitting will have a grander impact in job and wealth creation. Once again we congratulate the government for this timely intervention. We hope to see more of this and we would so much want the government to revise its policies on youth entrepreneurship. There are certain basic things if touched on, many young people can do business and the government at least will be somewhat be free of unemployment issues. We as a chamber is available with alternatives should the government call on us.” On Monday, 15th January, 2017, at the opening of the 8th Salon Academy of the National Association of Beauticians and Hairdressers, held at the Mensah Sarbah Hall, University of Ghana, Legon the President announced that, as from January this year, non-residential users of electricity in the country would enjoy an average of 14% reduction in electricity tariffs. According to President Akufo-Addo, not only has Government succeeded in normalizing the power situation in the country, “we now want to boost private business in our country.” Thus, the President indicated that “from January this year, the non-residential tariff rate, which is the rate which includes all of you here, is being reduced by an average of 14%. For barbers, it is being reduced by 18%; for hairdressers and beauticians, 15.7%, and for tailors, 9.8%.” https://www.ghanaweb.com/GhanaHomePage/NewsArchive/GCYE-applauds-government-for-tariff-reduction-618384?fbclid=IwAR3oZulz3kTCsh6XAqPfZ8bJlXZqDesJNDJzl75qogxLUAr9tkk-TjO4Ehs