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    AGI Advocates for Innovative Policies to Support SMEs

    Prices of Domestic Petroleum Products Set to Rise in October – IES

    FBNBank Ghana launches Akye promotion

    Transport owners and the missing NPA: who assured Sentuo to import BRVs?

    BOST clarifies amount paid for iPhones bought for company executives

    Fuel prices to remain fairly stable at the pumps – COPEC

    Restructuring NIB’s balance sheet won’t fix solvency challenges – Banking consultant cautions

    Thousands to participate in 2023 #CitiBusinessOlympics today

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    AGI Advocates for Innovative Policies to Support SMEs

    Prices of Domestic Petroleum Products Set to Rise in October – IES

    BOST clarifies amount paid for iPhones bought for company executives

    IMF hopeful Ghana will soon reach agreement with Official Credit Committee

    Fuel prices to remain fairly stable at the pumps – COPEC

    Restructuring NIB’s balance sheet won’t fix solvency challenges – Banking consultant cautions

    2023 #CitiBusinessOlympics: Defending champions GCB retains title

    Check out some lively photos from 2023 #CitiBusinessOlympics

    #CitiBusinessOlympics: Citi TV/Citi FM applauded for well-organized event

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    AGI Advocates for Innovative Policies to Support SMEs

    Prices of Domestic Petroleum Products Set to Rise in October – IES

    FBNBank Ghana launches Akye promotion

    Transport owners and the missing NPA: who assured Sentuo to import BRVs?

    BOST clarifies amount paid for iPhones bought for company executives

    Fuel prices to remain fairly stable at the pumps – COPEC

    Restructuring NIB’s balance sheet won’t fix solvency challenges – Banking consultant cautions

    Thousands to participate in 2023 #CitiBusinessOlympics today

    Vodafone Ghana’s commitment to SMEs shines at Business Runway 2023

  • TECHNOLOGY

    Genius IT Foundation achieves STEM.org accreditation

    Pharmaceutical Society charged to utilize AI to transform industry

    Apple says iPhone and iPad apps will show up on the vision OS App Store from the get-go

    China launches $41 billion fund to accelerate semiconductor industry

    Digital marketing: Event managers urged to explore growth opportunities

    Govt. urged to commit more investments to enhance AI competencies

    Stakeholders in digital ecosystem charged to do more to protect child privacy

    Cyber hygiene key for public safety – Dr. Albert Antwi Boasiako

    Ban on cryptocurrency still in force – Finance Ministry warns

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    South Africa adds Ghana to E Visa list

    Ofori-Atta commends G20 for AU’s inclusion, urges common voice

    Nine ventures announced for Africa Money and DeFi Summit investment showcase

    African Union to launch regional credit rating agency in 2024

    New study reveals alarming food access disparity affecting 650 million Africans

    Global food price index declines in August

    ECO currency challenges: Technical committee attributes delays to external shocks, others

    African leaders emphasize in-continent processing of mineral wealth at climate summit

    Indian investors commit $14 billion to Nigeria, to strengthen several Nigerian sectors

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COVID-19: Gov’t must come up with a stimulus package to cushion Ghanaians – Ken Thompson

byNerteley Nettey
March 19, 2020
in Business, Top Stories
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Following the economic devastation being caused by the novel Coronavirus pandemic, the Chief Executive Officer of Dalex Finance, Ken Thompson, has called on government to support businesses that have been tax compliant.

According to him, this should be part of a bigger emergency plan to bring relief to Ghanaians immediately, and safeguard the economy from crumbling.

Several governments globally are already taking steps to support the business community to lessen their plight caused by the ravaging virus. In some cases, governments elsewhere are offering social support systems to make life less stressful for people especially in countries that have implemented a total lockdown.

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Already,  some businesses in Ghana are incurring losses.

Speaking on the Point of View on Citi TV, he said, “We really need a stimulus package, but because a lot of our economy is informal, I think if we provide direct support, the money will be ‘chopped’. So, first, I think it is a good time to reward those who pay taxes. So, for example what the government can do, is to suspend the payment of tax and Social Security, and the money will be given to the employees to put in their pockets. It will also benefit people who are more vulnerable.”

The CEO also proposed to government to withdraw the Communication Service Tax (CST) and fuel taxes as part of the package.

“It is also possible to help with our indirect taxes because most of our taxes are indirect, people are at home, they don’t have cash, they are using data and making calls. Cut the Communication Service Tax. Also reduce the fuel tax because if we reduce it, it reduces the cost of transportation, and if the cost of transportation reduces, it reduces the cost of food.  That will at least keep prices in check,” he added.

In the wake of the Coronavirus pandemic, Ghana has already confirmed seven (7) cases.

The government has earmarked US$100 million to support the containment of the virus.

Also, government as part of efforts to stop the spread announced new public gathering advisories which will be enforced for the next four weeks.

Among other things, universities, senior high schools and basic schools have been asked to close down effective Monday, March 16, 2020. Concerts, workshops, sporting events and all religious events have also been banned.

This many experts believe will affect various industries and individuals.

Global Statistics

The 2019 novel coronavirus, officially named as COVID-19 by the WHO, has spread to more than 170 countries, prompting the World Health Organisation (WHO) to declare the disease as a pandemic.

Confirmed novel coronavirus cases have crossed 200,000, while more than 8,000 deaths have been reported across the world as Europe becomes the new epicentre of the disease. Approximately 60% of the global COVID-19 cases are currently outside China, the original source of the disease.

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Prices of Domestic Petroleum Products Set to Rise in October – IES

FBNBank Ghana launches Akye promotion

Transport owners and the missing NPA: who assured Sentuo to import BRVs?

BOST clarifies amount paid for iPhones bought for company executives

IMF hopeful Ghana will soon reach agreement with Official Credit Committee

Fuel prices to remain fairly stable at the pumps – COPEC

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