The Association of Ghana Industries (AGI) is urging businesses to reduce their dependence on the national electricity grid and invest in alternative energy solutions as rising power costs continue to threaten competitiveness.
According to the Association, electricity remains one of the most significant cost components for many businesses, particularly manufacturers, where power expenses can account for between 15 and 40 percent of total production costs.
Speaking on the on-air series of the 2026 Citi Business Festival with Nii Larte Lartey, Executive Member of AGI on Energy and Chief Executive Officer of Translight Solar Limited, Kobina Eric Nyanteh, said businesses can no longer afford to rely solely on grid power if they want to remain competitive.
“The best thing for most companies to do is to seriously consider alternatives to be able to stabilize the cost of their electricity and the power itself,” he stated.
Mr. Nyanteh warned that the structure of Ghana’s power sector leaves businesses vulnerable to rising energy costs, with thermal plants currently accounting for about 70 percent of electricity generation and expected to play an even greater role in the country’s energy mix in the coming years.
He noted that beyond tariff increases, reliability challenges across generation, transmission and distribution systems continue to disrupt operations and increase production costs for businesses.
“When the grid becomes unreliable, whether due to generation, transmission or distribution challenges, a lot of companies suffer,” he said.
According to him, many firms resort to diesel generators during power outages, a move that often results in higher operating expenses due to fuel and maintenance costs.
Mr. Nyanteh, however, cautioned businesses against rushing into alternative power solutions without first improving their energy efficiency.
He advised firms to invest in energy-efficient machinery, motors, cooling systems and building designs to reduce overall power consumption before considering renewable energy options.
According to him, combining energy efficiency measures with solar power and battery storage systems can help businesses lower electricity costs, improve reliability and strengthen their long-term competitiveness.
Mr. Nyanteh also encouraged businesses to take advantage of AGI’s Energy Service Centre, which provides advisory services on energy efficiency, renewable energy investments, financing options and climate-related sustainability initiatives.
The 2026 Citi Business Festival is powered by 97.3 Citi FM and Channel One TV in partnership with Absa Bank. It is proudly sponsored by Absa Bank, MTN, Zonda Tec Ghana Limited and Petra Trust.
