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Cedi Appreciation:Mahama must Reduce Electricity Tariffs – Paul Twum Barimah  

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The former Member of Parliament for Dormaa East, Paul Apraku Twum Barimah, has indicated that the ongoing stabilization of the cedi must lead to reduction in electricity tariffs.

 The Ghanaian cedi has experienced a significant appreciation against the U.S. dollar in recent months, prompting calls for a corresponding reduction in electricity tariffs. 

 Despite this currency strength, the Public Utilities Regulatory Commission (PURC) implemented a 14.75% increase in electricity tariffs effective May 3, 2025, citing factors such as exchange rate fluctuations, inflation, and fuel costs. 

Cedi’s Upward Trajectory

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As of May21st, the cedi strengthened to GHS12,22 per U.S. dollar, marking a 8.44% year-to-date gain from GHS16.53 in November 2024. This appreciation is attributed to several factors, including the Bank of Ghana’s $490 million in forex interventions, increased gold reserves, and improved gross international reserves, which stood at $9.4 billion in March 2025, up from $6.2 billion a year prior.  

Tariff Hike amid Currency Strength

The PURC’s recent tariff adjustment was based on a weighted average exchange rate of GHS15.6974 per U.S. dollar, higher than the current rate. The Commission cited the need to recover 50% of an outstanding revenue shortfall of GHS976 million from previous quarters in 2024 as a significant factor influencing the increase.  

Stakeholder Reactions

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The Ghana Hotels Association and the Ghana Union of Traders’ Association (GUTA) have expressed concerns over the tariff hikes. The Hotels Association highlighted that electricity accounts for over 20% of operational expenses, warning that the increase could threaten business sustainability. GUTA criticized the PURC’s decision as unjustified, pointing to inefficiencies in the utility sector that burden consumers.  

Calls for Tariff Reassessment

Given the cedi’s appreciation, stakeholders argue that electricity tariffs should be reassessed to reflect the reduced cost of importing fuel, which is priced in U.S. dollars. They contend that if currency depreciation justifies tariff increases, then appreciation should logically lead to reductions, providing relief to consumers and businesses alike. 

Looking Ahead

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“As the cedi continues its upward trend, there is growing pressure on the PURC to consider these gains in future tariff reviews. Stakeholders advocate for a transparent and responsive pricing mechanism that aligns with economic indicators, ensuring that consumers benefit from favorable market conditions,” he stated.

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Infrastructure challenge bad publicity for Premier League

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Benjamin Asare - Hearts of Oak
Benjamin Asare - Hearts of Oak

In other jurisdictions, the commencement of a new football season was one soccer fans would party about.

Having endured about a three-month period without action, fans become anxious about what the new season brings and how their respective teams would perform.

But that is not the case in Ghana, especially where the current Ghana Premier League (GPL) football season is expected to get underway today.

Unlike other places where fans would be fantasising and visualising about the new players and what they bring on board, Ghanaian fans have been occupied with discussions about the present state of infrastructure.

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Obviously, the game thrives when stadia appear in good condition. When the pitches are in perfect shapes, it enhances play and brings out the best from the players.

Sadly, the state of the pitches in the country have left many questioning the preparedness for the season that also coincides with the start of AFCON qualifiers.

Currently, the pitch at the Accra Sports Stadium is closed for Premier League matches in readiness for the qualifiers.

Alternative ones like the University of Ghana Stadium is also not in the best of shape.

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The Baba Yara Stadium in Kumasi is also a concern despite hosting the Democracy Cup. As a result, teams to be affected in the southern and northern sectors would turn their attention to the Abramkese and UG stadia, a situation that would take a toll on the surfaces.

The situation, therefore, raises questions over the country’s direction regarding the provision of sports infrastructure.

Apart from the Borteyman Sports Complex, which was constructed for the Africa Games, none of the facilities scattered across the country can be said to be in good shape to host local games; not to talk about high profile competitions.

This should be a wakeup call on the government to start initiating processes to ensure modern infrastructure were erected to put Ghana in a good position to host games without the unwarranted scrutiny of CAF.

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This would come at a huge cost to the taxpayer but when the business aspect of that expenditure in considered, it should be a worthy outlay.

But the infrastructure challenges notwithstanding, the competition will kick start at Tema where Vision FC engages Young Apostles FC.

The Hearts of Oak versus Berekum Chelsea clash will lead tomorrow’s games pack that also sees debutants Debibi United and Port City FC engaged in battles against Asante Kotoko and FC Ashantigold, respectively.

In other games, Basake Holy Stars will welcome Swedru All Blacks; FC Samartex against Karela United; Heart of Lions versus Aduana FC and Bechem United against Goldstars.

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Dreams FC will face Medeama SC at the Tuba astro turf on Monday.

By Andrew Nortey

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VODEC, NELEF launch 2026 Idea Challenge Pitch 

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Mr Amonoo speaking at the event
Mr Amonoo speaking at the event

The 2026 Idea Challenge Pitch and media launch was held last Saturday at the Pentecost University in Accra.

It brought together innovators, entrepreneurs and stakeholders to promote creative ideas and solutions aimed at addressing societal challenges.

The initiative, organised by the Visionary Organisation Development and Entrepreneurial Club (VODEC) and National Emerging Leaders Economic Forum (NELEF) provided a platform for participants to showcase their ideas and highlight how innovation and creativity could be transformed into practical solutions.

The programme also sought to encourage young people to develop ideas that could contribute to national development and create opportunities for entrepreneurship.

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Held on the theme: ‘building Africa’s future, emerging leaders driving inclusive growth and regional transformation,’ the event sought to serve as a strategic platform to transition youth talent from mere concepts into investable enterprises.

During the pitch session, shortlisted entrepreneurs presented viable business ideas which spanned critical sectors, including climate-smart agribusiness, sustainable waste management, digital technology, and assistive tech for persons with disabilities.

A member of the judging panel, Mr Blessed Amonoo, an Investment Analyst at the Ghana Amalgamated Trust Plc., praised the technical depth of the presentations.

“We are looking for scalability, market readiness, and projects that directly answer local problems, Mr Amonoo noted during the evaluation.

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The level of innovation displayed here proves that African youth possesses the answers to the continent’s economic riddles, provided they receive the right structural refinement.”

Finalists selected from this rigorous process will be officially announced and paired with corporate mentors at the flagship forum in September.

Speaking at the event, the Founder and Chief Executive of VODEC Africa, Mr. Daniel Asomani, urged African governments and financial institutions to systematically secure capital for youth-led startups.

Mr Asomani emphasised that Africa’s persistent brain drain can only be reversed if young minds find fertile ground to scale their enterprises locally.

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“Our brilliant minds are leaving the shores of Africa not because they want to, but because the local ecosystem suffocates their dreams.”

“The Idea Challenge is our contribution to keeping this talent home but VODEC cannot do it alone. We need policy interventions, tax incentives for startups, and deliberate venture funding to turn these ideas into multi-million-dollarcorporations,” Mr Asomani stated.

By Desmond Aidoo

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