Ghana’s manufacturing sector registers negative growth

Ghana's manufacturing sector registers negative growth

Photo©Reuters

Persistent erratic power supply led to Ghana’s manufacturing sector growth dipping to an unprecedented negative 8% in the fourth quarter of 2014, eroding confidence in the business community, Association of Ghana Industries (AGI) has said.

"The manufacturing sector continues to shrink and Ghana risks losing its industrial base if government policies do not quickly address these challenges to revive the industrial sector," AGI president, James Asare-Adjei warned in a communiqué.

Ghana risks losing its industrial base if government policies do not quickly address these challenges

The association has, therefore, asked managers of the country’s power sector to institute a "short term, time bound action plan" to reverse the deteriorating energy situation to salvage industries from collapsing.

While captains of Industry try to keep business running, it is imperative for the government to put measures in place to offset any potential setback to businesses, particularly, on account of the current energy crisis, the association said.Industry players say, as a matter of urgency, the power managers should make available the strategic national energy plan, 2015 to 2030, and also the five-year energy sector strategic development plan covering 2015 to 2020.AGI Business Barometer reports that the consistent energy crisis and a lack of access to credit […]

Leave a Reply

*