Ghana lost between Ghc320 million and Ghc924 million in 2014 alone due to the ongoing power crisis, a report by the Institute of Statistical, Social and Economic Research (ISSER) has revealed.
The 2014 Social Development Outlook said this amounts to between 2% and 6% percent of GDP annually and does not include direct cost.
The Coordinator of the research, Rev. Dr. Adobea Yaa Owusu, touching on the highlights, described the power situation as a “major bottleneck hampering Ghana’s development” and noted it has debilitating impact on growth and development.
Rev. Dr Owusu further observed that the continuous fumes from generators used as alternatives for power generation in the country also affects the environment because of the carcinogenic material in it which could cause throat cancer and also has psychological effects.
According to the report, about 30% of the Ghanaian population do not have access to electricity.
Ghana is currently experiencing a painful load-shedding exercise following three years of erratic power supply.
The power problem has affected most companies including health facilities.
The Ghana Union of Traders Association (GUTA) has complained that the load-shedding exercise is affecting their businesses, lamenting that the situation had made some companies lay off some of its workers.
But government has assured that it is putting measures in place including importing emergency power barges to save the situation.