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Business News of Thursday, 30 July 2020


Income for over 22 million Ghanaians drop due to coronavirus

This data is according to official government statistics This data is according to official government statistics

A report by the Ghana Statistical Service has revealed that over 22 million Ghanaians have had an impact on their incomes due to COVID-19.
This was disclosed by the government statistician, Professor Samuel Kobina Annim at a press conference in Accra.

“With our current population of about 31 million, if 77.4 percent of persons indicated that total household incomes went down since March 16, this implies that about 22 million Ghanaians were affected by the reduction in income as a result of COVID-19,” Prof Annim explained.

The survey, was conducted with a sample size of 3,265 households across all 16 regions in the country.

Out of this figure, the Greater Accra Region was reported to be the least affected region while the Upper West, the Bono and Bono East Regions recorded the worst-hit households.

According to the survey, 2 million persons also did not engage in any work activity due to COVID-19 related safety issues.

This challenge saw the reduction in access to some basic amenities such as food and basic health care.

“Specifically, between the period June 3 and June 9, 2020, more than one million people in Ghana indicated that suspension of work was the reason for not working,” Prof. Annim noted.

The pandemic led to the closure of borders affecting tourism and hospitality, among others.
New public gathering protocols and a partial lockdown led to an economic slowdown that crippled many businesses and triggered widespread job losses.

The Finance Minister revealed during the mid-year budget review that the pandemic had left the country with a revenue shortfall of GH¢13.6 billion and unplanned expenditures of GH¢11.7 billion.

The “Households and Jobs Tracker” was to provide insights on how household lives and jobs are impacted by the pandemic.