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Covid-19 And The Impact On The Ghanaian Business

Coronavirus disease 2019 (COVID-19) is defined as illness caused by a novel coronavirus called severe acute respiratory syndrome coronavirus 2 formerly called 2019, which was first identified amid an outbreak of respiratory illness cases in Wuhan City, Hubei Province, China. 


It was initially reported to the World Health Organization (WHO) on December 31, 2019.


On January 30, 2020, the WHO declared the COVID-19 outbreak a global health emergency.


COVID-19 affects different people in different ways. Most infected people will develop mild to moderate illness and recover without hospitalization.


The world's economies are on their knees following the negative impact of the coronavirus pandemic over the past 8 months. Growing number of researches has been conducted on the impact of COVID-19 pandemic on developed countries with little attention on developing countries, who are still grappling with the negative impact of the coronavirus.


The rationale for this study is to assess the socio economic impact of COVID-19 on Ghana's economy and government response to the pandemic as well as policy options to revive the ailing economy.


This explored the socio economic impact of the coronavirus on Ghana's economy using a discourse analysis from various secondary sources to analyze the impact of the pandemic from the Ghanaian perspective.o W

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The Coronavirus Disease (COVID-19) pandemic has affected almost every aspect of human endeavour, including the business sector. An upsurge in drop-out students has been observed across the globe.


This can be attributed to the massive disruption towards business access because of the pandemic and the lack of resources. Countless communities across the continent have unreliable internet, access to electricity, and expensive broadband.


Notably, Africa has been negatively affected by the pandemic; thus, derailing the entire business system. Most significantly, these disruptions constitute a “global business emergency,” threatening to disorganise businesses in Ghana.


This is because 192 countries around the world have shuttered businesses, are still unable to return. Unfortunately, the longer they remain out of business, the less likely they are to return when the time comes.

To address these challenges, the most important question that African governments ought to answer is? Should businesses wait until the pandemic is over to return or can governments offer any alternative means to continue doing business whilst confined at home by the pandemic?


The answer is that governments need to consider upscaling digital technologies that could allow businesses to continue operating whilst confined by the pandemic. Therefore, in order to mitigate the effects of the pandemic, African countries have to adapt in the “new normal” by harnessing technological innovations relevant for the business sector.


This can significantly improve the medium through which businesses can earn under pandemic constraints. It can also significantly advance technological products available in the market and that can drastically alter the way business is conducted across the continent.


African countries are encouraged to improve internet access for easier utilization of digital technologies suitable for online business. Additionally, African countries can increase the variety of resources that can adequately support businesses. These resources can be instructional packages such as radio advertisement, television, and online instructional resources.


When the dust settles, Africa is bound to adopt a revised business landscape, which will be impacted and resharped by the "new normal". African leaders are therefore encouraged to mitigate the risk of continent's business regression caused by the Covid-19 pandemic.


Finally, African countries ought to engage with stakeholders through Public Private Partnership and formulate mitigation measures that is appropriate for their specific context and adequately address business access challenges caused by the pandemic at the national, regional and continental levels.

 

Content created and supplied by: iamEdrino (via Opera News )

COVID-19 Ghanaian Hubei Province WHO World Health Organization

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