Business News of Monday, 20 April 2015

Source: Daily Guide

Energy crisis crippling economy

Vice chancellor of Valley View University Ghana, Professor Daniel Bour says the ongoing energy crisis is crippling the country’s economy.

According to him, the current energy crisis has seriously affected industrial development and deepened the unemployment problem in Ghana.

Prof Bour, who made this known at the maiden edition of the annual School of Social Sciences Colloquium at University of Ghana, Legon, said the numerous challenges, including the energy crisis could be attributed to rapid population growth.

“The inability to balance population growth with the use of environmental resources has resulted in the degradation of the environment through its abuse. The energy crisis in such areas have seriously affected industrial development and resulted in the deepening of the unemployment problem.

In Ghana, the current ‘dumsor dumsor’ is crippling the economy. Forest and other resources are over-exploited, especially in Third World countries. Climate change and attributed threats to life are partly linked to this reckless exploitation of natural resources,” he stated.

Speaking on the theme, ‘Theory and Practice of Social Science in a changing World,’ Prof Bour noted that “on the health front, preventable diseases keep emerging and the inability to control pollution is beginning to have serious effects on countries, especially in the sub-Saharan region.”

He pointed out that Ghana allocates about 0.3 percent of the GDP to research, unlike other countries and urged government to improve the situation.

During the event, Dr. Martin Oteng-Ababio was adjudged the Best researcher while Dr. Michael Danquah was declared as the Most Promising young Scholar. Dr. Edward Nketiah-Amponsah was also adjudged the Best lecturer for the 2013/2014 academic year.

Prof. Kwabena a. Anaman was given the special award his efforts in the 2013/2014 academic year.