Tag: COVID-19
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We’re supporting SMEs to grow amidst COVID-19 threat – Bank of Africa MD
The Managing Director of Bank of Africa (BoA), Mr. Kobby Andah, says Small and Medium Scale Enterprises (SMEs) have been at the heart of the bank’s operations. Against this backdrop, he says the bank is making available special packages to support SMEs to grow in the wake of the COVID-19 pandemic. He stated that the…
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3-week lockdown reduced wages of over 770,000 workers; caused 42,000 layoffs – GSS
The shock caused by the COVID-19 pandemic has had considerable impacts on Ghanaian businesses, forcing many firms to cut costs by reducing staff hours, cutting wages, and in some cases laying off workers, particularly within the 3-week partial lock-down aimed at curtailing the spread of the virus. This is according to results from a new…
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Post COVID-19: A green bank in the 2021 budget crucial – IES
The economic shock experienced by most economies caused by the novel Coronavirus (Covid-19) pandemic can have widespread and dramatic effect on investments in the energy sector. The baseline expectation for 2020 is a widespread global recession caused by prolonged restrictions on mobility and social and economic activity. With a gradual opening up of economies currently…
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COVID-19: Newmont Ghana signs MoU with KCCR to offer support worth GHS3M
Newmont Ghana has signed a Memorandum of Understanding (MoU) with the Kumasi Centre for Collaborative Research in Tropical Medicine (KCCR) to support the nation’s fight against the COVID-19 pandemic. Under the MoU, Newmont Ghana will procure PCR equipment, ancillary equipment, reagents and other consumables to augment the capacity of KCCR to scale up its testing.…
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Flight services to Wa Airport on hold due to dwindling passenger numbers – Adda
The Minister for Aviation, Joseph Kofi Adda, has attributed the suspension of flight services to the Wa Airport to dwindling numbers as a result of the COVID-19 pandemic. After the rehabilitation of the Wa Airport in October 2019, airline services to the Upper West Regional Capital commenced. However, operations have been suspended in recent times.…
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Transport fares reduced by 10% effective August 1
Transport fares have been reduced by 10% effective Saturday August 1, 2020. This leaves only 5% of the 15% increment which will take effect from August 1. The decision was taken after a meeting between transport operators and the Ministry of Transport. On July 7, 2020, government approved a 15% hike in transport fares to…
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COVID-19: African Development Bank Group supports Ghana with $69m grant
The Board of Directors of the African Development Fund (ADF) on Friday, July 24, 2020, approved a $69 million grant to support Ghana’s efforts to tackle the COVID-19 pandemic and mitigate its socio-economic impact on the country. The grant from the ADF, the concessional arm of the African Development Bank, would provide fiscal budget support…
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Boeing to delay 777X as demand drops for big jets
Boeing Co (BA.N) is preparing to delay its all-new 777X jet by several months or up to a year, three people familiar with the matter said, as the COVID-19 crisis exacerbates a drop in demand for the industry’s largest jetliners. Boeing hopes to bring the jet to market as passenger travel rebounds after a downturn…
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Schlumberger eyes deeper cost cuts as oil rout triggers $3.7 billion charge
Oilfield services giant Schlumberger NV (SLB.N) on Friday outlined plans for deeper spending cuts after recording a $3.7 billion charge and a second straight quarterly loss on thousands of job cuts and a pipeline outage in Ecuador. The large loss capped second-quarter reports from U.S. oilfield services providers that laid bare the damage wreaked by…
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COVID-19: Smock Weavers in Bolgatanga lament low patronage
Ghana’s textile industry has been an important source of livelihood for many despite the challenges it has faced in recent years. But the traditional textiles sub-sector in particular, which produces Kente and the smock, has gained very little attention from the government. Amidst the economic impact caused by the novel coronavirus pandemic, smock weavers at…