Tag: Coronavirus
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Car rental firms hit by impact of COVID-19 as workers are laid off
As the economic impact of the coronavirus spreads across several sectors, some car rental dealers in Accra say they have also been affected. According to them, they have had to lay off some workers due to low patronage as more people are observing the social distancing protocol and limiting public gatherings and movements. Since Ghana…
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African Finance Ministers call for $100 billion stimulus, debt holiday
African finance ministers have called for a $100 billion stimulus package, including a suspension of debt service payments, to help the continent combat coronavirus. According to Reuters, some $44 billion would come from not servicing debt and they would also tap existing facilities in the World Bank, International Monetary Fund (IMF), African Development Bank (AfDB)…
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Containing COVID-19: GhIPSS removes charges on all electronic payments
As part of efforts to promote and encourage the use of digital payment options to limit the possible spread of the Coronavirus through the use of cash, the Ghana Interbank Payment and Settlement Systems Limited (GhIPSS), has waived off fees on all electronic payments services used by its partner financial service providers. The fee waiver,…
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COVID-19: National Insurance Commission reviews operations to protect staff
In the wake of the Coronavirus pandemic, the National Insurance Commission (NIC), has reviewed its operations to avoid the spread of the disease among its staff. This follows the new public gathering rules announced by government on Sunday, March 15, 2020. A statement signed by the Commissioner of Insurance, Justice Yaw Ofori, states that the…
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![Economic policies for Coronavirus: Saving lives, safeguarding livelihoods [Article]](https://citibusinessnews.com/wp-content/uploads/2020/03/GSB-B-fast.jpg)
Economic policies for Coronavirus: Saving lives, safeguarding livelihoods [Article]
The impact of the coronavirus (COVID-19) pandemic is unprecedented in the modern era. Equally unprecedented is the escalation of the response around the world. Even for countries without an outbreak, spillovers from the global pandemic and social distancing measures locally would likely deal a severe blow to economic activity this year. Social distancing and containment…
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NCA permits telcos to send ‘emergency’ messages on COVID-19
The National Communications Authority (NCA), has granted the four telecommunication companies operating in the country,namely AirtelTigo, Glo, MTN and Vodafone, the permission to send Emergency Communications from the Ghana Health Service (GHS) on the COVID-19 Global Pandemic to all their subscribers. According to the Authority, the arrangement forms part of efforts to educate consumers and…
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BoG cuts policy rate to 14.5% as it weighs economic impact of COVID-19
The Monetary Policy Committee (MPC) of the Bank of Ghana has reduced the policy rate to 14.5%. This is a 150 basis points reduction in the rate which had been kept unchanged at 16 percent for at least five consecutive times. The policy rate determines the rate at which the central bank lends to commercial…
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GPHA suspends high-risk ships, port tours and internship due to COVID-19
The Ghana Ports and Harbours Authority, GPHA, has suspended all high-risk ships that berth at the Tema and Takoradi ports, port tours by schools and academic internship. This is part of measures set by the Authority to help prevent the continuous spread of the deadly Coronavirus in Ghana. Currently, 7 persons in Ghana have tested…
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Santol Energy distributes free hand sanitizers; reduces fuel price to GHS4.9 per litre
Santol Energy has announced what appears to be a double bonanza for motorists with the distribution of free hand sanitizers to all its customers, and a reduction in prices of products at its fuel stations nationwide. A litre of petrol is now selling at 4.9 cedis per litre, down from 5.25 a litre, according to…
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COVID-19 impact: Betting and match-viewing centres hit over suspension of games
Aside from the fatalities caused by the coronavirus pandemic, there’s a huge economic impact of the disease globally. One of the hardest hit sectors is the aviation industry, as air travel has been restricted in some countries. This has also affected tourism, with the latest being the cancellation of various crowd-related events such as football.…