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    NIB MD laments cost of borrowing for private sector

    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

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    NIB MD laments cost of borrowing for private sector

    Kwahu Summit to focus on Africa’s economic transformation under AfCFTA – APN

    World Trade Centre Accra Accra announces partnership with Altkom Akademia to offer professional education in Africa

    Ghana has the 4th cheapest average cost of internet in Africa – Statista

    Africa’s internet economy to cross $180 billion by 2025: Report

    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

    E-Levy is an overhyped revenue generation measure – Seth Terkper

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    African Finance Ministers tasked to allocate more resources into education sector

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    NIB MD laments cost of borrowing for private sector

    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

    E-Levy is an overhyped revenue generation measure – Seth Terkper

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

  • TECHNOLOGY

    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

    Citi Business Festival: Acquiring digital skills key to securing employment – Maximus Ametorgoh

    Bank of Ghana commences piloting of digital currency in Sefwi Asafo

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    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    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

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Advertisers Association of Ghana laments impact of COVID-19 on members

byNerteley Nettey
May 7, 2020
in Local Economy, Top Stories
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The Advertising Association of Ghana, AAG, says the industry has also taken a hit in the wake of the coronavirus pandemic.

Although some areas of the industry has experienced great results, the Association says other areas have been hit hard.

As part of efforts to curb the spread of the novel Coronavirus in the country, the Advertising Association of Ghana says several prominent events and conferences have been cancelled or postponed to protect the public.

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“This season of COVID-19 has seen certain areas of advertising experiencing great results while some corners of the industry has been hammered. Agencies with high technological space, have moved their mandates to clients online, while the others struggle within the space of virtual advancement.”

In a statement issued by the Association, it said “In view of this, several prominent events and conferences are being cancelled or postponed in an effort to protect the health of their employees and as a precaution on suggested travel restrictions, also existing contracts with businesses for the management of their advertising budgets for the 2020 fiscal year may be terminated or renegotiated for the simple reason that, production has gone down thereby impacting negatively on revenue as consumption and/patronage have gone down.”

“This obviously demands that advertising agencies re-look at the sources of cash inflows and revenue for their 2020 budgets because as health and safety concerns loom around large gathering, many businesses are abandoning live and in person upfront presentation in exchange for visual presentation,” the statement added.

It further notes that, should the pandemic persist, that could impact the advertising agencies revenue and profit.

“Huge drops will be seen in the revenue of advertising agencies because the big and multinational companies which engage the services of these agencies are mostly affected by the Covid-19. As a result, those companies will cut down on mainstream and traditional advertising, and rather resort to having an in-house advertising team, mainly as part of the marketing communication department,” it said.

Also, staff retrenchment will hit advertising agencies as they lose accounts and contracts, and the work load is minimized.

“They will be forced to maintain a lean staff,” it noted.

Click here for the full statement:

The outbreak of the novel Coronavirus in the country necessitated a three-week partial lock-down. As a result, various sectors of the country’s economy have been immensely impacted.

Though the lock-down has been lifted, many individuals and businesses are still struggling as other restrictions have slowed down activities.

As at 6th May, 2020, Ghana’s COVID-19 cases stood at 2719 with 294 recoveries and 18 deaths.

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Kwahu Summit to focus on Africa’s economic transformation under AfCFTA – APN

Ghana has the 4th cheapest average cost of internet in Africa – Statista

Africa’s internet economy to cross $180 billion by 2025: Report

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