GBC’s Nicholas Osei-Wusu and Georgina Agyei report that apart from the possible negative impact of the implementation of the new tariffs on their businesses, most SME operators also expressed displeasure about the timing of the review.
Asafo is one of the prominent suburbs of Kumasi within the Subin Sub Metro. Among the businesses operating within this community are hairdressing salons and tailoring shops.
Following the announcement of an upward review of tariffs of electricity and water by the Public Utilities Regulatory Commission (PURC), effective September 1, 2022, GBC’s News Team visited this community for the reaction of business operators.
They gave mixed responses to the adjustment. While some of them expressed fear about the possible negative impact on the profitability and growth of their enterprises and therefore appealed for a late implementation date, some expressed satisfaction that SMEs have been given some consideration.
Apart from being dotted with all manner of medium to small-scale businesses, Asafo is considered the epicenter of commercial printing of almost all ranges of printing materials with hospitals and schools being their main clients. But, at the time the news team got to their places, some of them were virtually idle.
They said their businesses are not doing well attributing it to factors including high cost of electricity. In their view, implementation of the increased power cost next month could worsen their plight.
Kumasi is a commercial and business hub in Ghana. The metropolis is awash with businesses ranging from industries to medium and small-scale enterprises most of which are privately owned.
Importantly, these businesses are heavily dependent on the availability of electricity and water for which reason, any slightest adjustment of the commodity impacts profitability.