According to GUTA, the high cost of electricity and water is inflating production and operational expenses, which in turn affects the pricing of goods and services and discourages both local and foreign investment.

Speaking at a press conference in Accra on Monday, October 6, GUTA President, Dr. Joseph Obeng, called on the government to urgently review recent tariff hikes to provide relief for businesses and help restore competitiveness in regional trade.

“We all realise that we are participating in AfCFTA, yet Ghana is lagging behind. We are not competitive, and our goods cannot even compete with those from Togo. The reason is the high cost of doing business here, especially regarding utility tariffs. It has not helped us. The earlier we solve these issues, the better,” Dr. Obeng stated.

He emphasised that the high cost of utilities continues to erode profit margins, force price increases, and threaten the survival of many small and medium enterprises.

GUTA is urging government and regulatory authorities to work with the business community to develop a fair and sustainable tariff structure that supports industrial growth and enhances Ghana’s participation in the AfCFTA market.

Meanwhile, the Ghana Food and Beverages Association (FABAG) also called on President John Dramani Mahama to implement urgent reforms at the Electricity Company of Ghana (ECG).

According to the association, the persistent increase in utility tariffs, despite ECG’s recurring financial losses, must be addressed as a matter of priority.

The Chairman of the association, John Awuni, stressed that the high cost of electricity is taking a heavy toll on businesses and Ghanaians at large.

“There shouldn’t be any tariff increment. Because no amount of tariff increment can solve the problems of ECG. There must be a reform, and that reform is aimed at reducing the technical and commercial losses to reasonable standards,” he said.