• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

High tariffs and cost of input major concern to businesses in first half – IEA Survey 

4 years ago
in Business, highlights, Home, home-news, latest News
2 min read
0 0
0
81
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

High tariffs and cost of input major concern to businesses in first half – IEA Survey 

Results from the 2021 business confidence survey by the IEA, has showed that some business owners have identified high utility tariffs as the most common constraints they have faced during the first half of the year.

According to them, in incidents of corruption, high rates of taxes, an erratic exchange rate regime and including high cost of input are the top five constraints they were faced with.

Senior Fellow at the IEA, Theodore Markham noted the constraints are of great concern especially as the public utilities regulatory commission has hinted at reviewing charges upwards.

He said this while commenting on the results of the survey, which was conducted in the third quarter of the year and examined the prior two quarters.

Mr Markahm tasked the state to find ways to minimise wastage in the generation and transmission of water and electricity further calling for the State’s consideration of providing businesses with preferential tariff rates, saying the current regime is unfairly punitive toward productive activities.

“There are many factors behind the high utility tariffs, and one of them is the way government has distinguished between domestic and commercial and industrial users. The business community considers this discriminatory, and more must be done to encourage them,” he said.

RelatedPosts

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana

Government Reintroduces Free Cocoa Fertiliser Programme to Boost Sector Growth

President Mahama Directs Ministers to Fast-Track Rollout of Ghana’s E-Visa System

Must Read: The Minority Leader should please hold his horses on E-Levy

Due to the covid pandemic, the survey was limited to the Greater Accra Region, and saw responses from 157 businesses across the three primary sectors, albeit with a heavy bent toward the services sector, with wholesale and retail traders accounting for 60.5 percent of the respondents.

The survey showed that a reduction in the rate of taxes and charges, as well as the cost of credit, are the top interventions businesses want from the state.

The survey showed that three out of four businesses, do not expect a material change in the performance of their businesses over the course of the next six months with the Yuletide period included.

Despite an almost 90 percent reduction in COVID-19-related expenditure during the period under consideration, respondents suggested that they had on average recorded net losses as the pandemic-related savings were eroded by increased costs of production – up by 75 percent – and a reduction in profits by about 80 percent.

However, approximately 60 percent of businesses surveyed are “expecting a better business performance in the next six months.”

There were also expectations expressed that physical capital expenditure, sales and profits will see an upturn over the next six months, with the cost of operations dropping further.

Tags: corruptionCOVID-19 pandemicghanahigh rates of taxesHigh tariffs and cost of inputs major concern to businesses in first half - IEA SurveyIEA Survey
No Result
View All Result

Highlights

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

Nigeria Hits Panic Button as West Africa Logs $2.1bn in Suspicious Crypto Transactions

CID Recovers 43 Stolen Luxury Vehicles Smuggled into Ghana

2025 Mid-Year Economic Review: Fiscal Discipline is a Necessary Pain

Ledecky’s Heroics Highlight Underwhelming US Campaign at World Aquatics Championships

Trending

Business

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana

August 4, 2025

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana The Criminal Investigations Department (CID)...

Government Reintroduces Free Cocoa Fertiliser Programme to Boost Sector Growth

August 4, 2025

President Mahama Directs Ministers to Fast-Track Rollout of Ghana’s E-Visa System

August 4, 2025

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

August 4, 2025

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

August 4, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.