• About Us
  • Contact Us
Account
GTB
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
Account
Ghana Talks Business
No Result
View All Result

24 percent of Agribusinesses in Ghana may not survive the shocks of Covid-19

27/05/2020
Reading Time: 3 mins read
agricbusiness firms , ghanatalksbusiness.com
0
SHARES
Share on FacebookShare on TwitterShare on WhatsApp

A survey conducted by the Chamber of Agribusiness, Ghana (CAG) indicates that nearly 24 percent of businesses in the agriculture value chain are not likely to continue operating post the covid-19 pandemic if they do not get external support.

Should this happen, according to the survey, which looked at the impact of Covid-19 on agribusiness in Ghana, staff of those businesses and the communities they operate in will be severely affected.

However, 35 % of the participants were somewhat likely to continue working and adjust their business model to stay afloat, when asked if they would continue with their business when the pandemic is fully contained.

Another 25 percent of the respondents said they were very likely to stay in business post the pandemic.

According to the survey, the respondents expressed varied support needs with the key ones being financial, market access, and linkage. Formalisation of their business was the topmost need, to cushion them against the consequences of the pandemic.

Survey participants

Participants in the survey were both local- and foreign-owned agribusinesses located across 16 regions of Ghana.

The size of agribusinesses surveyed ranged from medium-scale to large-scale.

Most of the agribusinesses (57%) had an average of five workers while, at least, about 7% have more than 50 workers.

The number of years of agribusinesses surveyed followed one to five years (67 %), five to 10 years (16 %) and more than 10 years (17 %).

Over 80% of the participants admitted the pandemic has had a toll on their operations and services.

Recommendations

Consequently, the CAG in the report recommends for the government to ensure that smallholder farmers and agribusinesses are included in its stimulus package and social protection programmes aimed at mitigating the impact of the pandemic on the citizenry.

It also called for government to promote trade by avoiding export bans and import restrictions.

“Government agencies like the Registrar’s General Department should offer mobile-enabled service for smallholder agribusinesses to formalise their operations and be assisted by the Ghana Revenue Authority (GRA) to plan and honour their tax obligation post-COVID-19 when the situation is normalized”, it concluded.

The full report is attached below

By Salifu B.B. Moro

debt payments from IDA countries

Previous Post

PHD MEDIA takes top spot in Global New Business Barometer Report

Next Post

These are the Top 10 Businesses in Africa- by Africa Business Magazine

Related Posts

SMEs in Tourism sector, ghanatalksbusiness.com

Ghana’s Tourism Sector lost 170 million USD in four months due to Covid-19

04/06/2020
covid-19 recession, ghanatalksbusiness.com

Ghana eases Covid-19 restrictions; conferences & workshops can resume – Here is more

01/06/2020
Africa Union day

African Union COVID19 Response Fund aims to raise $1 Million on Africa Day

25/05/2020
Cost of covid-19, ghanatalksbusiness.com

Fixing the future: What must the world do now and post Covid-19?

18/05/2020
covid-19 recession, ghanatalksbusiness.com

3 ways COVID-19 could actually spark a better future for Africa

13/05/2020
soft loan scheme

This is how much each SME will get from GH₵600m stimulus package

11/05/2020
Next Post
Top businesses in Africa, ghanatalksbusiness.com

These are the Top 10 Businesses in Africa- by Africa Business Magazine

Returning to work Covid-19, ghanatalksbusiness.com

Returning to work after Covid-19; here are 6 things every employer should know

  • About Us
  • Disclaimer
  • Privacy Policy
  • Advertising
  • Contact Us

© 2021 Ghana Talks Business

No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
  • Login

© 2021 Ghana Talks Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In