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    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

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    BoG Governor confident inflation has peaked; expects rate to start declining

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    BoG’s inflation targeting framework can’t reduce rise in inflation – IEA

    Monetary Policy Rate must be increased to 19% to check inflation – IEA

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

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    Victor Yaw Asante, FBNBank Ghana MD

    Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

    Banking Consultant bemoans continuous charging of unfair fees by banks

    Chamber of IPPs disappointed over ECG’s tariff increase request

    A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR

    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

    NPA allays fears of fuel scarcity in the country

    Fuel prices to rise marginally in second pricing window of May – IES

    Gov’t to put measures in place to reduce ‘imported inflation’ – Ofori-Atta

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    Government to invest heavily in internet safety – Ursula pledges

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    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

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    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

    AfCFTA members conclude negotiations on rules of origin to enhance free trade

    Implement strategies to sustain increased consumer preference for digital payments – Bawumia

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Tourism industry players hopeful of stimulus package after GTA’s economic impact assessment

byPius Amihere Eduku
March 27, 2020
in Local Economy, Top Stories, Tourism
Prince Ntiamoah Boampong - Deputy CEO, Chamber for Tourism Industry

Prince Ntiamoah Boampong - Deputy CEO, Chamber for Tourism Industry

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Operators in the country’s tourism and hospitality sector say they are expecting an intervention by government when the regulator, the Ghana Tourism Authority, completes an economic impact assessment of the COVID-19 on their operations.

The coronavirus has not only slowed economic activities due to restricted movements, but has also led to some redundancies across sectors including the tourism and hospitality.

In the US for instance, weekly jobless claims has risen to 3.28 million as coronavirus causes mass layoffs.

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In Ghana, the managers of top hotels like Accra City have confirmed to Citi Business that they have had to lay-off some casual workers following a drop in revenue due to low patronage.

The Ghana Hotels Association has called for a stimulus package for its members to remain in business.

They say the continuous imposition of some operational levies despite the impact of the pandemic continues to erode the meager profits they are making.

This has led to a lot of engagements with institutions like the Ghana Tourism Authority to assess the impact and proffer recommendations to government for action.

Deputy CEO of the Chamber for Tourism, Prince Ntiamoah Boampong, says they expect a favourable response soon.

“The Ministry of Tourism together with the GTA is working on a qualitative and quantitative analysis of the impact of the pandemic on the sector. As a result, they have called for proposals comprising the impact of utility tariffs, bank loans, layoffs, among others. After completing their work, they will present it to the government to act on it and provide the stimulus package that will be needed,” he said.

Mr. Boampong added that in the interim, more jobs are being affected at a faster rate, hence the need for the state to speed up its support.

“Casual workers went as far back as last week and as at Wednesday [March 25, 2020], we have had reports of some permanent staff being served with letters to proceed on leave without pay. They are to resume only after the situation normalizes which no one knows when.”

He added that, “For now, most of the major hotels are like ghost facilities and what is keeping some of them is that they have been used as holding centres for the mandatory quarantine exercise being carried out by the government.”

As at Thursday, March 26, 2020,  the total number of COVID-19 cases recorded in Ghana stood at 132, with one recovery and three deaths.

The Chamber for Tourism believes that resolving the challenges confronting their members should help in sustaining the contribution of the tourism sector as the 4th foreign exchange earner for the country.

Restaurant operators call for gov’t support to stay in business as COVID-19 hits hard

As the economic impact of the COVID-19 widens across many sectors and businesses, some operators of Restaurants in the national capital, Accra, say their activities have been severely hampered as they’re unable to host large numbers of people.

Operators are thus calling on government to offer them some relief such as a reduction in utility tariffs.

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