• Mr Emmanuel Asiedu-Mante (right), Fellow of the Chartered Institute of Bankers explaining a point during the open forum. Those with him are Prof. Felix Ankomah Asante (left) and Mr Tony Oteng-Gyasi.
• Mr Emmanuel Asiedu-Mante (right), Fellow of the Chartered Institute of Bankers explaining a point during the open forum.
Whereas the former Deputy Bank of Ghana Governor, Mr Emmanuel Asiedu-Mante, contended that the current energy crisis continued to crumble the business sector, Professor Felix Asante of the Institute of Statistical, Social and Economic Research (ISSER) at the University of Ghana, Legon, said employers were more likely to cut down labour force if the situation persisted.
said unless immediate solutions to the energy problem were pursued with urgency, Ghana's business sector would suffer heavily in 2015.
"It is apparent that every sector of the economy is reeling under the pressure of the energy crisis, households are hurting and businesses are crumbling and jeopardising growth in industry and the services sectors," he
According to Mr Asiedu-Mante
, even though Ghanaians had observed some momentum in seeking solutions to improve the generation mix over the medium to long term, "the short-term solutions for ending the power crisis are far from clear."
said the latest release by the Ghana Statistical Service had revealed that the protracted energy crisis, lower commodity prices, rising inflation and lower budgeted government expenditure took a major toll on the country's economy in 2014.
"That is why I cannot but emphasise the need to find immediate solution to the energy crisis in particular as it has the potential to weaken growth prospects in 2015 and beyond," Mr Asiedu-Mante