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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

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    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

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

    Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs

    CBOD calls for a more structured supply of Forex for petroleum products

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

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    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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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    African Finance Ministers tasked to allocate more resources into education sector

    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

    Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey

    Inflation in Africa: Some subsidy programs prolonging situation – Jeff Gable

    Cedi Summit comes off today at Alisa Hotel

  • Business
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    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

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

    Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs

    CBOD calls for a more structured supply of Forex for petroleum products

  • 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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    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

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

    Take control of financing on the continent – Ofori-Atta to AfDB

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Stimulus package won’t protect all jobs – Ghana Employers’ Assoc.

byNerteley Nettey
May 5, 2020
in Local Economy, Top Stories
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The Ghana Employers’ Association says even if government offers support to businesses; that will not guarantee jobs for all workers as layoffs could still happen based on individual company’s level of impact from the  COVID-19 pandemic.

The Employers’ Association wants government to support its members to pay salaries, improve their working capital and defer VAT and income tax payments for some time; but the government is yet to respond to these requests.

A similar support to Nigerian banks by their central bank has compelled the employers not to lay off workers.

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Explaining how this could possibly be replicated in Ghana, President of the Ghana Employers’ Association, Alex Frimpong, told Citi Business News that decision would have to be determined by respective organizations.

“Business exist at the benevolence of society, so employers have the responsibility to ensure that even though they will be looking at the economic and financial aspect, the social impact of whatever decisions they take, becomes quite paramount. But at the end of the day they need to do the balancing to make sure that while the business survives, employees must also survive and therefore the society must also be stable.”

“…So, these are matters that entrepreneurs, businesses do everyday, and I am sure a lot of them have also done their analysis. So, if we have attractive stimulus packages, I am sure the businesses will be able to take that in their strides, but I think the discussions concerning the modalities and the terms are still ongoing. So at the end of the day, business would have to make a determination as to how they would take advantage of the packages that will be put in place,” he stated.

Following the outbreak of the novel Coronavirus, the rapidly growing economic effects on the world of work, and the measures taken to deal with it, are proving to be far worse as many individuals are at high risk of losing their jobs.

The Trades Union Congress (TUC) is already lamenting the impact of the COVID-19 pandemic on the country’s economy as developments that necessitated a lockdown of some parts of the country has led to some job losses with many more people likely to lose their jobs in the coming months.

According to the International Labour Organization (ILO), globally, 25 million jobs have also been threatened by the pandemic.

Disbursement of GHS600m stimulus package for SMEs to begin in May

Last month, President Akufo-Addo announced that the disbursement of the six hundred million cedis (GHS600 million) stimulus package for micro, small and medium-scale businesses is expected to start in May.

According to the President, the stimulus package, which forms part of the Coronavirus Alleviation Programme  is part of the various interventions to mitigate the adverse impact of the Covid-19 outbreak on businesses, individuals and households.

The GHS600m soft loan scheme will have a one-year moratorium and two years repayment period for micro, small and medium scale businesses.

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African Finance Ministers tasked to allocate more resources into education sector

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

Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey

Inflation in Africa: Some subsidy programs prolonging situation – Jeff Gable

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