Dumsor: You can’t run a 24-hour economy when even 8 hours is a struggle — Prof Bokpin to gov’t

Economist and Professor of Finance at the University of Ghana Business School, Godfred A. Bokpin

Economist and Professor of Finance at the University of Ghana Business School, Godfred A. Bokpin, says the the government’s proposed 24-hour economy policy may not be feasible amid the country’s worsening power crisis.

According to him, the frequent power outages — commonly referred to as “dumsor” — show that Ghana is not even managing a stable 8-hour economy, let alone a round the clock cycle.

Speaking on Accra-based Joy News’ Newsfile on Saturday, May 17, Prof Bokpin described the current energy situation as the biggest threat to the economy.

“You are not even getting power for your eight-hour economy cycle that we are running, and you are talking about a 24-hour economy,” he noted.

He added, “Apart from irresponsible mining, including illegal mining, what causes me sleepless nights is the energy sector.”

Prof Bokpin called for an end to the politicisation of Ghana’s energy sector, urging leaders from both sides to work together for the long-term stability of the country’s power supply.

“We have seen what both major political parties have done. And we are now at a stage where politicisation doesn’t help,” he noted.

The professor also revealed that the Electricity Company of Ghana (ECG) is recording distribution losses of about 40%—almost three times the global average.

“That is not sustainable. Even if you are doing 15%, that is very high. With that level of losses, in economics, you cannot talk about realistic pricing.

“You cannot pass on all those losses to the ultimate consumer. It doesn’t make sense economically or socially,” he said.