Costs Associated With Covid-19 Still An Issue For Ghana

The Association of Ghana Industries (AGI) Business Barometer Report for the first quarter of 2021 says the pandemic continued to have dire consequences around the globe and Ghana has had its fair share of problems related to the pandemic.

In the recent survey, even though there was a drop from 30 percent to 27 percent in the number of business owners who reported that the pandemic posed a challenge to their business, the effect of Covid-19 has been the top challenge of industry since the second quarter of 2020.

In the Q1 2021 survey the high cost of electricity moved up to become the second major bottleneck for industry. Uncompetitive electricity tariffs, coupled with the withdrawal of the free electricity enjoyed in previous months, severely impacted businesses.

The high cost of freight continued to drive up the cost of imported raw materials as well as export shipping and this issue emerged as one of the major challenges as reported by respondents.

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