Tag: COVID-19
-
Containing COVID-19: Guinness Ghana activates work-from-home policy
As companies review their operations globally to avoid the spread of the Coronavirus pandemic through the implementation of strict social distancing measures, leading beverage manufacturing company, Guinness Ghana, has also joined a growing number of institutions in the country, that have activated a work from home policy. Currently, Ghana has recorded eleven (11) cases of…
-
Aviation Minister impressed with COVID-19 safety measures at KIA’s cargo section
The Minister of Aviation, Joseph Kofi Adda, he is satisfied with the measures put in place by various cargo operators at the Kotoka International Airport to prevent the possible spread of the coronavirus. He has however indicated that there would be sustained regular monitoring by the Ministry to enhance the necessary safety mechanisms. Already, the…
-
Containing COVID-19: BoG removes charges for some momo transfers, adjusts limits
The Bank of Ghana has announced that electronic transfer of money of up to GH¢100 will not attract any charge from March 20, 2020. In a statement, the Central bank said the decision however excludes cash out transactions on the same network or to different networks. According to the Bank of Ghana, the move is…
-
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…
-
Some Ghanaian hotels contemplate closure soon as COVID-19 causes low patronage
As the coronavirus COVID-19 takes a toll on all kinds of businesses and economic activities globally, the Ghana Hotels Association says its members may be forced to close down some of their facilities if government doesn’t take steps to cushion them from the effects of low patronage. The Association says very few people are now…
-
Enterprise Group donates GH¢20.1m to three institutions to contain spread of COVID-19
As part of measures to help contain the spread of the coronavirus pandemic in Ghana, Enterprise Group has presented an amount of GH¢20.1 million, comprising an insurance package and cash donations, to three key institutions to aid their work. Following the announcement of recorded cases in Ghana which stands at seven, there have been calls…
-
COVID-19 impact: Gov’t to rely on IMF, World Bank & Stabilization Fund to close revenue gap
The Finance Minister, Ken Ofori-Atta, has told Parliament that government will rely on a mix of funds from the World Bank, IMF and withdrawals from the Stabilization Fund to finance the budgetary gap expected to be created by the fiscal impact of the Coronavirus pandemic on the Ghanaian economy. According to him, this has become…
-
COVID-19 impact: Importers & traders anticipate possible closure of shops over shortage of goods
Beyond the loss of human lives and the pressure brought on health systems globally by the coronavirus pandemic, the disease is threatening livelihoods as businesses and economic activities have been severely impacted. Aside from the aviation and tourism sectors, which have been badly hit, trading has generally seen a massive reduction. In Ghana, some importers…
-
Reduced Chinese imports to hit Ghana’s economy despite cedi’s gain – Health Economist
A health economist, Dr. Gordon Abekah-Nkrumah, says suggestions that the Ghana cedi may have strengthened against the US dollar partially due to reduced imports from China over the outbreak of the coronavirus could be true. However, Dr. Abekah-Nkrumah, speaking on the Citi Breakfast Show, stated that despite the gains made by the local currency, the…
-
Coronavirus crash wipes US$5 trillion off world stocks
Coronavirus panic sent world share markets crashing again on Friday, compounding their worst week since the 2008 global financial crisis and bringing the wipeout in value terms to $5 trillion. The rout showed no signs of slowing as Europe’s main markets slumped 2-3 percent early on and the ongoing dive for safety sent yields on…