View Full Version : GCC bemoans high cost of doing business

7th January 2012, 04:35 PM
http://i44.tinypic.com/36cd2.jpgThe Ghana Chamber of Commerce (GCC) has expressed worry about what it describes as increasing cost of doing business in the country.

The Chamber said the recent increase in fuel prices will adversely affect commercial operators.

The President of the Ghana Chamber of Commerce, Seth Adjei Baah told Joy FM that high interest rates, coupled with unreliable power supply, put a heavy strain on businesses.

“Even though we are saying Ghana’s economy is growing at a very fast rate, the industry is not growing that much. Last year it grew by 1.7 percent and its industry that creates the volume of employment that we are looking for.”

He said utility bills and interest rates for loans are going up, making it difficult for local industries to compete with those from other countries which produce at cheaper rates and export them into Ghana.
Mr. Baah indicated that “the only way to improve the situation is for government to get involved and create the enabling environment.

“If we want to create the needed employment through industry in Ghana, then there is a need for government to help to reduce the cost of doing business and by so doing, people will be attracted to go into industry.”

He stressed the need to look at other alternatives to revamp the sector, adding that it is not enough to attribute the increment in crude oil and utility bills to global prices, explaining that if the country wants to create opportunities for the youth, then industry must be taken seriously by the government.

“When the ordinary man is employed, that is when we are going to get taxes also to run the economy. Those who are not employed are not paying any taxes so we’ve got to find a way to balance the situation,” he stated.