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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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    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

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

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    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

    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

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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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    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

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

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Businesses at Alabar in Kumasi lament impact of COVID-19

June 8, 2020
in Business, Local Economy, Top Stories
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Traders at one of Ashanti Region’s popular Retail Markets, Alabar, say the continuous closure of borders is taking a toll on businesses in the enclave.

Motor bikes, tricycles and spare parts are largely traded at the market with many traders relying heavily on import and foreigners to boost sales.

Some of the traders told Citi Business News they have had to lay off some workers in the wake of COVID-19 restrictions.

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At the retail shops, young men employed by the shop owners were seen busily  fixing and assembling motor bikes and tricycles to get them ready for the market.

Sales however continue to decline with the outbreak of the Coronavirus pandemic and its attendant restrictions.

Hamdan Bawah, one of the retailers, said he has been compelled to lay off some of his workers.

“The COVID-19 has really affected us a lot. You know, our goods are normally from China and due to the restrictions, nobody is going and nobody is coming, and now the least left they are increasing the prices, so it has really affected us so much. We have laid off a lot of workers due to the slow nature of the business here”.

He called on Government to reduce import duty to save their businesses.

Another retailer, Mohammed Amin, recounted how business was booming before the outbreak of coronavirus.

“In a week we could sell like 30 or 35 motorbikes, but now because of the COVID, is very difficult. Sometimes when we come in a day, to sell even two motorbikes is very difficult, but at first we used to sell like five and sometimes we sell ten motors in a day”.

One other retailer, Sherrif Annin also said “The prices of the goods keep going up. We had expected that things would have been normal with the outbreak of the virus, but it is even now that the prices keep going high and it is not easy for us. If all the restrictions are eased, I believe things will be somehow better. Although with the restrictions, business is slow, but we are still managing”.

The retailers are however hopeful that business will pick up once COVID-19 is over.

 

Source: Hafiz Tijani|citibusinessnews.com|Ghana
Tags: AlabarCOVID-19SMEs
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