Tag: COVID-19
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Gov’t revenue target to drop significantly due to impact of COVID 19 – Finance Minister
Finance Minister, Ken Ofori-Atta, says Ghana will record a significant drop in revenue target for 2020 due to the COVID-19 pandemic. He warns that the country is recording a huge decline in revenue from the port, petroleum revenue receipts as well as tax revenue due to economic slowdown being witnessed as the world fights the…
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Our services are essential; we must be exempted from lockdown – Contract Cleaners
Contract Cleaners Association of Ghana, a group of cleaning companies in the country is pleading with government to include them in the category of organizations offering essential services in parts of Accra, Tema, Kasoa and Kumasi in the wake of the partial lockdown to curtail the spread of the COVID 19. This follows the announcement…
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Gov’t requests to use part of Heritage Fund for COVID-19 fight
The Finance Minister, Ken Ofori-Atta, is calling for the amendment of the Petroleum Revenue Management Act (PRMA) to allow government to utilize portions of the Ghana Heritage Fund to deal with the Coronavirus pandemic. The Heritage Fund is a creation of section 10 of the Petroleum Revenue Management Act 815 enacted in 2011. The purpose…
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Banks to readjust interest rates to reflect drop in policy rate
Some commercial banks operating in the country say they are yet to finalize processes to determine the level of readjustment of their interest rates to reflect the drop in the policy rate. The Monetary Policy Committee of the Bank of Ghana earlier this month reduced the rate at which it lends to commercial banks by…
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AGI urges more support from banks to businesses as COVID-19 hits hard
The Association of Ghana Industries (AGI), has urged banks in the country to emulate the gesture of Republic Bank Ghana, by implementing measures that will support local businesses in the wake of the novel Coronavirus pandemic. This follows Republic Bank Ghana’s gesture of offering a Loan Repayment Deferment for its customers and staff for a…
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More deliveries for courier service providers as COVID-19 restricts movement
The Coronavirus pandemic has undoubtedly taken a huge toll on many businesses, causing job losses and reducing productivity. But at the same time, other businesses are making huge gains from the situation; one of such being those in the courier service. This is largely because people have limited their movements, and are thus rely more…
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COVID-19: Reducing cost of our services over low patronage not prudent – Hotel managers
Some hotel managers in Accra have rejected calls for a reduction in the cost of their services to increase patronage. In the wake of the spread of the COVID 19 pandemic, some hotels are struggling to stay afloat, as bookings have reduced drastically, forcing some to lay-off some casual workers. As a result, some have…
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TUC urges all workers to comply with partial lock-down rules
The Trades Union Congress, TUC, has asked on all workers within parts of Greater Accra and Kumasi who are not exempted from the restriction of movement, to obey the rules set out by government in order to avoid the further spread of the novel Coronavirus. This follows the announcement by President Akufo-Addo on Friday, 27th…
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Impact of COVID-19 could slow Ghana’s growth rate from 7 to 2.5% – Akufo-Addo
The effect of the COVID-19 pandemic could affect Ghana’s growth rate from 7 percent on average to 2.5 percent if the situation persists till the end of 2020, President Akufo-Addo has stated. The President, who made the announcement last Friday when he announced a partial lock-down in parts of Accra, Kumasi, Tema, and Kasoa, said…
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COVID-19: Gov’t urged to make use of Ayalolo buses to ensure social distancing
The General Transport, Petroleum and Chemical Workers Union, is calling on government to revive the ailing ‘Ayalolo’ buses which operate the BRT system in the country to alleviate pressure on public transportation as the novel Coronavirus continues to spread. Earlier this week, the President in an announcement directed all commercial transport drivers to restrict the…