The Businesses Tracker Survey conducted by the Ghana Statistical Service (GSS) has shown that COVID-19 restrictions compelled more than 115,000 businesses to either permanently or temporarily closed down.
According to the survey, over 65 percent of businesses affected by this situation were micro-sized firms and businesses many of which remained closed even after the post partial locked-down.
The survey also revealed that about 25 percent of the businesses in the hospitality industry has been closed down and about ten percent of businesses in the manufacturing, health, retail and wholesale and construction sector have also stopped operation.
The Government Statistician, Prof Samuel Kwabena Annim, who launched the findings of the survey said the data showed that businesses have lost sales by 26 percent due to the impact of the virus on the economy.
He said the hospitality industry recorded the highest reduction of sales followed by petty trading; 57 and 35 percent respectively.
According to Prof Annim more than 476,000 businesses experienced a decrease in the demand for their wares as a result of the Covid-19 restrictions.
He added, however, that about 26,000 businesses recorded an increase in demand for goods and services during the partial locked-down.
Prof Annim said more than 45, 000 people lost their jobs during the partial lockdown, adding that many of these workers were engaged in the hospitality sector.
He said the survey further revealed that some companies have to reduce salaries to keep all their staff, adding that “more than 770,000 workers had their wages reduced.”
On the use of technology as a way of averting the effects of the virus, he said less than 10 percent of businesses adopted internet facilities to run their business.
The survey, which was conducted in collaboration with the United Nations Children’s Fund (UNICEF) and the World Bank, forms part of the three rapid COVID-19 surveys — Household and Jobs Tracker Survey, the Business Tracker Survey and the Local Economy Tracker Survey — which are intended to assess the socio-economic impacts of the coronavirus pandemic in the country.
Ishmael Batoma, ISD
