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    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

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    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

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    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

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    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

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    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

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    GHASALC laments drop on number of digital transactions following e-levy

    Italy’s top producers of agro-tech products explore opportunities in Ghana

    Gov’t to commence talks with IMF for bailout

    Financing agric sector alone not enough to grow it – GIRSAL CEO

    We’re not charging E-levy on merchant accounts – GRA

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    AfCFTA Secretariat calls for accelerated dev’t for key infrastructure in Africa to boost trade

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

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    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

    Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in big partnership

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

  • TECHNOLOGY

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

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    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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70% of car rental workers asked to go home temporarily – Association

byPius Amihere Eduku
May 13, 2020
in Local Economy, Top Stories, Transport
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More businesses are counting their losses from the economic impact of the COVID-19 pandemic on their operations.

The latest is the Car Rentals Association, which has already asked about 70% of its staff to go home temporarily as they contemplate business continuity plans.

In some cases, workers have lost their jobs; while others have taken pay cuts.

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The closure of Ghana’s borders to passenger flights from March 23, 2020, has impacted most businesses within the tourism and hospitality industry, which comprises the Car Rentals Association.

Per the nature of their jobs, they operate from various airports, hotels, conference facilities, and commute clients to and from other corporate engagements.

But this will cease temporarily at least for the next two months; since the President has by Executive Instrument, extended the border closure till the end of May this year.

The President of the Car Rentals Association of Ghana, Seth Ocran, in an interview with Citi Business News, said the situation has impacted the operations of the association’s 40 members, across its major networks in Accra, Kumasi, Tamale and Takoradi.

“Largely, the informal sector of the economy such as the markets is opened. But the whole economy particularly the formal sector is still in a lockdown so we are still the same as all our vehicles are grounded, we are not working and we are still at home. So for us whether partial lockdown or the lifting of the ban on the movement of people has not really changed anything as far as our business is concerned,” he explained.

Aside from reducing the staff strength prior to the partial lockdown of Accra, Tema, Kasoa and parts of Kumasi, the slow pace of work has compelled the managers to ask about 70% of the total workforce to stay home temporarily.

Though Citi Business News understands March salaries were fully paid, that of April witnessed some cuts between 40 and 50% among the industry players.

“The issue had to do with people and every company had a different approach; some terminated the appointments with the hope that when things get back to normal, such people will be recalled. Others also negotiated with their employees for either 40 or 50% pay cut,” Seth Ocran intimated.

Mr. Ocran says they’re uncertain of the resumption of activities anytime soon.

For him and his members, commercial banks ought to respond accordingly by freezing interest payments on loans to enable them stay afloat.

Again, he told Citi Business News they are hoping a 3 billion cedis soft loan to be arranged by the Bank of Ghana and the Ministry of Finance should help in alleviating their plight.

“In a meeting with the President, he assured us that the 3 billion cedis is a soft loan and a moratorium will be given in terms of payment terms and it will be made available for us to apply. Therefore as members, we will apply for that,” he said.

As Ghana’s COVID-19 case count has crossed the 5,000 mark, it is still uncertain if the closure of borders will be extended as the government introduces containment measures to control the spread of the coronavirus in Ghana.

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