- Download 29
- File Size 1.49 MB
- File Count 1
- Create Date April 6, 2020
- Last Updated April 6, 2020
Business Impact Of COVID-19
The outbreak of COVID-19 has sent shockwaves throughout the global economy with severe impacts on global trade and transportation.
To have an overview of the pandemic's impact on business in Ghana, the chamber instituted the COVID-19 Business Impact Survey.
Ghana confirmed the first case of COVID-19 on March 12, 2020, and businesses are already feeling the financial impact of the disease. Some companies have canceled major meetings and events in response to the social distancing call, to help curb the spread of the virus.
Companies have also made an extra investment in acquiring PPEs and are implementing other safety protocols to keep their staff and clients safe.
A lot of businesses expect a significant reduction in their 2020 revenue targets as a direct result of the outbreak. Some companies are considering major salary cuts to stay in business and at the same time keep people employed