Businesses in Ghana call for open borders over fall in economic activities
- Concerns have been raised about a fall in business activities following the closure of Ghana's borders
- Research has shown there is a shortage of raw materials and prices for such materials have increased
- The World Bank earlier called on some countries to reopen their borders to allow for international trade
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YEN.com.gh has learned that businesses, especially those in the retail sector, are calling for a reopening of Ghana’s borders.
The call follows a decline in economic activities and a shortage of raw materials.
The shortage, per information available, has led to an increase in the prices of such materials in the country.
Source: UGC
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The findings were the result of a survey conducted by IHS Markit Ghana, thebftonline.com reports.
The survey also revealed that even though some restrictions have been loosened, the general economic slowdown has led to challenges such as job cuts.
In March, the government announced the closure of the country’s borders following the outbreak of the coronavirus.
The closure, however, led to a fall in business activities as it led to a disruption of supply chains.
YEN.com.gh earlier reported that the World Bank called on African countries to keep borders open.
The reason was that the closure would lead to an increase in prices and a shortage of essential commodities.
Research shows that African countries heavily depend on imported medical supplies.
About 94% of pharmaceutical companies in the region reportedly obtain products from outside of the continent’s borders
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Source: YEN.com.gh
