COVID-19: Over 100 businesses in Ghana lose almost GHC40 million due to pandemic
- The Ghana National Chamber of Commerce and Industry (GNCCI) has revealed that 108 businesses in Ghana lost GHC39.8 million due to COVID-19
- It added that both micro and large scale businesses have been affected by the pandemic
- This were disclosed in the course of a virtual seminar it organised
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YEN.com.gh has learned that a total of 108 businesses in Ghana have lost GHC39.8 million due to the economic impact of COVID-19.
According to the Ghana National Chamber of Commerce and Industry (GNCCI), a study conducted indicated that both micro and large scale enterprises have been affected.
GNCCI’s President, Nana Appiagyei Dankawoso I, opened up on this in the course of a virtual seminar themed “COVID-19: Strategies for Business Survival and Growth."
Source: UGC
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Per a report by Ghana Web, he added that the economic effects of the pandemic reflected in layoffs, shorter working hours and redundancy across firms of all sizes.
He went on to say that “medium enterprises also have the highest expected lay-offs and workers on paid-leave while large enterprises have the highest short-time working hours.”
YEN.com.gh earlier reported that GNCCI called on the government to take a second look at the GHC600 million soft loan package allotted for Small and Medium Scale Enterprises (SMEs) in Ghana.
According to the Chamber, the amount is woefully inadequate to support all SMEs in Ghana who may require help.
The call follows a similar one by the Ghana Union of Traders Association (GUTA) who say the amount may not cater for every SME in need.
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Source: YEN.com.gh
