A study conducted by the Institute of Statistical, Social and Economic Research (ISSER) has revealed that businesses lose about $686.4 million annually due to the incessant supply of electricity, popularly known as Dumsor Dumsor, which has plagued Ghana over the past three years.
According to the Institute, Ghana loses about $2.2m daily or $686.4 million yearly due to the power crisis.
It indicated that the situation has lowered the annual sales of Small and Micro businesses by about 37% to 48%.
Head of the Economic Division at ISSER, Dr. Charles Ackah, ?who presented the highlights of the report titled “Electricity insecurity and its impact on micro and small business in Ghana”, stated that this translates to about 2% of national output lost due to the current crises..
According to the opportunity cost per kilowatt analysis by ISSER?s Economic Division, the figure translates to about 2% of national output lost due to the energy crisis.
The report was carried out on over 1, 250 SMEs across all 10 regions of Ghana and it was revealed that the crisis has lowered the annual sales of these companies by about 37% to 48%.
This is the first time such?comprehensive study has considered?losses suffered by businesses since the power crises began for the past three years.
Source: spyGhana.com
