COVID-19: Report shows over 80% of agribusinesses cannot pay taxes or salaries
- Over 80% of agribusinesses in Ghana have been severely affected by the outbreak of the coronavirus
- Most of them are now facing increased expenditures, fall in production levels and inability to meet targets
- Other challenges are setbacks in the payment of salaries and wages, issues with tax obligations and repayment of debts
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The Chamber of Agribusiness Ghana (CAG) has revealed that over 80% of agribusinesses in Ghana have been severely affected by COVID-19.
The outbreak of the virus has had a toll on its operations and services, leading to several challenges.
The businesses revealed that they are currently dealing with increased expenditures, fall in production levels, inability to meet targets and setbacks in the payment of salaries and wages.
READ ALSO: Farmers cry to government over storage facilities and financial challenges
Other challenges, the CAG noted, were issues with tax obligations, repayment of debts and threats to the health and life of employees.
Per a report by graphic.com.gh, the Agribusiness Sector Survey Report, 2020, by CAG, showed that policies such as the partial lockdown and social distancing resulted in a fall in revenue levels.
YEN.com.gh understands that the average monthly revenue of such firms fell by 61.2% during the period of restriction on movement.
Meanwhile, some people have expressed fears over a possible food shortage after Ghana has been rid of the coronavirus.
Farmers, Civil Society Organisations (CSOs) and other stakeholders have, therefore, urged President Akufo-Addo to implement strategies that would improve the lives of Ghanaians.
While commending him for the measures aimed at controlling the spread of the coronavirus, they also claimed there is a need to avert possible threats to food security.
READ ALSO: COVID-19: Farmers reduce price of cashew nuts from GHC8 to GHC2
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Source: YEN.com.gh
