blank
search-icon
News

#DumsorMustStop: Study Shows Ghana Loses Over $2m Daily Due To Dumsor

Electricity
Electricity

The vigil is over but the campaign goes on, because as long as there’s any remnant of a power crisis we cannot even begin to attempt going a path of real development.

Because the power crisis affects all sectors of life, and puts a huge drain on the resources of businesses, the lifeblood of the economy.

A report on the power crisis, carried out by the Institute of Statistical, Social, and Economic Research (ISSER) of the University of Ghana shows that Ghana loses more than $2m daily ever since the inception of the power crisis.

The survey, carried out on Small and Micro Scale Enterprises (SME’s) shows their revenue has been slashed by as much as 48% due to the power crisis. It also reveals that only about 20% of the enterprises could afford back-up generators, leading to all that loss of revenue.

The report further extrapolated that considering SME’s provide two-thirds of all jobs in the country, if nothing is done to arrest the slide it could lead to more serious consequences than just loss of revenue.

Annually, the money lost from the Ghanaian economy due to dumsor comes up to $686m.

READ ALSO: Refused A UK Visa? CLICK HERE FOR HELP

CLICK HERE to subscribe to our daily up-to-date news!!

POPULAR POSTS

LATEST NEWS

MORE FROM News

Leave a Reply