Some Small and Medium Enterprises (SMEs) in the Sekondi-Takoradi Metropolis have expressed optimism about the economic prospects and growth of businesses in 2026.
Desmond Tyro, the Chief Executive Officer (CEO), said the stability of the Ghanaian Cedi against major international currencies over the last year, and the abolition of some taxes, such as the COVID-19 recovery levy, should translate into a more favourable cost of doing business.
Mayor’s Tap deals in computers, mobile phones and accessories.
Mr Tyro said: “Last year, the government did well in terms of the cedi stability, and we know they have also abolished certain taxes like the COVID-19 recovery levy, so I expect that all these will bring us a good climate for our businesses to thrive in 2026.”
According to him, the government must build on the economic growth recorded in 2025 to help ensure a continued, positive trend this year.
Mr Tyro also commended the government for the reduction in the prices of petroleum products, saying, “One of the government’s new year gifts to us was reducing fuel prices, which I think is one of the major economic indicators that we are on the right path.”
He, however, expressed worry over the increase in utility tariffs, noting that such hikes could have adverse effects on businesses.
The Public Utilities Regulatory Commission (PURC) announced an upward adjustment of electricity tariffs by 9.86 per cent and water tariffs by 15.92 per cent, effective January 1, 2026.
The CEO of The Mayor’s Tap stated that this increase would significantly affect small businesses and households.
Mr Tyro therefore urged the government to implement stringent measures to make utility tariffs more affordable, ensuring the growth and sustainability of SMEs.
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