The Association of Ghana Industries (AGI) says a 48% jump in electricity tariffs for bulk industrial consumers threatens to erode the competitiveness of Ghanaian manufacturers, who are already struggling with high production costs.

AGI CEO Seth Twum-Akwaboah raised the alarm during Channel One TV’s Quarterly Economic Review of Ghana’s mid-year economic performance on Thursday, July 9, 2026, describing electricity costs as one of the biggest factors shaping whether businesses can operate, expand and create jobs.

“For businesses, we are operating with cost. And if your cost is stable and is lowered, it means that if you get the same price levels, your revenue will be good. And if your revenue is good, you can expand, and you can continue to stay in business and employ people,” he said.

He noted that electricity costs have topped the AGI Business Barometer Report as the number one challenge facing businesses for two consecutive quarters.

According to him, the increase stems from a change in how the Electricity Company of Ghana (ECG) classifies bulk customers—high-volume industrial consumers who had previously secured lower rates through an arrangement negotiated with the Energy Commission.

That arrangement was built on a basic economic principle: the more electricity a company buys, the lower its cost per unit should be.

“Now suddenly, ECG changed the status. And within one month, the electricity tariffs went up by 48% for those who are bulk customers,” he said.

The CEO added that industry players have been engaging stakeholders on the matter since the start of the year, stressing that electricity costs remain one of the few major expenses businesses have little control over.

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DR/BAI