Accra: Mr Seth Twum-Akwaboah, the Chief Executive Officer of the Association of Ghana Industries (AGI), has urged for equitable and objective electricity tariff negotiations to ensure the competitiveness of Ghanaian companies. He emphasized the significance of balancing the survival of utility companies with the persistent challenge of high energy costs in Ghana.
According to Ghana News Agency, Mr Twum-Akwaboah made these remarks at the 2025 AGI Ghana Industrial Summit and Expo, themed 'Reliable Power and Industrial Growth; Strategies to Unlock Ghana's Economic Transformation'. He highlighted the necessity for industries to access energy at competitive prices due to fierce competition from foreign companies. The influx of foreign goods into the Ghanaian market is a significant challenge, and he urged the government to thoroughly examine the energy ecosystem.
Mr Twum-Akwaboah noted that while the recent appreciation of the cedi is beneficial, it also makes imports cheaper, posing a challenge for local industries without efficient and competitive energy costs. He stressed the importance of addressing energy cost issues to improve the situation for high energy-consuming companies, as any uncompetitive adjustments in price levels could be detrimental.
He acknowledged the challenges faced by energy providers and called for collaborative efforts to ensure that the right tariffs are set to support the survival and efficiency of utility companies. This collaboration is crucial for the prosperity of industries and the economy.
In a keynote address, Mr Edward Obeng-Kenzo, the Acting Chief Executive of the Volta River Authority (VRA), stated that Ghana's economic transformation relies on strong collaboration between the government, the power sector, and the business community, with a specific focus on industry. He emphasized that sustainable power is essential for Ghana's path to economic transformation and called for collective action to achieve industrialization goals.
Mr Obeng-Kenzo outlined the VRA's commitment to providing sufficient, reliable, clean, and resilient power to enhance Ghana's industrial competitiveness. He highlighted the VRA's expertise in system operations, which has contributed to reducing losses, improving safety, and optimizing resources for efficient service delivery.
The VRA is pursuing capacity expansion projects and diversifying its generation mix to reduce reliance on fossil fuels, strengthening energy security for Ghana. Additionally, the Authority is committed to modernization, digitization, and plant upgrades to enhance operational efficiency. Mr Obeng-Kenzo stressed the importance of engaging both public and private sector players to develop tailored energy solutions for industrial clusters and economic zones.
The VRA's dedication to sustainability remains firm as it continues to deliver responsible services to stakeholders, investing in workforce development to drive innovation in energy delivery and industrial support.