President John Dramani Mahama has noted that smart businesses in country are not laying off workers but are investing to expand in spite of the current power crisis facing the country.
[contextly_sidebar id=”xyjMJQN5wCouoApSkvlTUIKRBRqWImZi”]He explained that smart businesses are instead “investing more resources to expand their production in Ghana.”
The President was speaking at the May Day celebration held in Accra on Friday.
He noted that despite the current economic predicament facing the nation, several jobs are being created.
He cited the Accra Brewery Limited (ABL), which recently procured a $100 million production plant with the aim to double the company’s production capacity to buttress his point.
Some economic analysts have predicted various job cuts due to the power situation which they say has increased production cost.
President Mahama however bemoaned the effect of the power situation on the economy but assured that government is working assiduously to put an end to it.
He said “our power supply challenges are temporary and we will soon consider them to be a bad nightmare from which we have awoken.”