Rédaction Africa Links 24 with Ghanaian Times
Published on 2024-03-20 08:46:02
A recent survey conducted by the Ghana Statistical Service (GSS) in collaboration with the World Bank, European Union (EU), and the United Nations Development Programme (UNDP) has revealed that about 90 per cent of businesses affected by the COVID-19 pandemic in Ghana have fully recovered and are currently in operation. The study, titled ‘Ghana Business Tracker Wave 4’, is part of the global Business Pulse Survey by the World Bank and its partners to measure the impact of the pandemic and subsequent crises on the private sector.
The survey, which was conducted between April and July 2023, covered 3,157 micro, small, medium, and large-sized companies, including 60 European firms. The results showed that a majority of the firms surveyed had experienced improvements in their cash flows. The study also found that the businesses covered in the survey recorded a 4.2 per cent increase in nominal sales between 2021 and 2022, with local companies trading with European firms experiencing an 11 per cent increase in sales.
During the launch of the survey, a panel discussion was held with speakers including Mrs Kosi Yankey-Ayeh, CEO of the Ghana Enterprises Agency, Seth Twum-Akwaboah, CEO of the Association of Ghana Industries, and Charles Kubi, Director of Economics and Business Bureau of Ghana Union of Traders Association. The partners involved in the survey were commended for their efforts.
Mr. Anthony Krakah, the Head of Industrial Statistics and Coordinator of Business Census at the GSS, presented the findings of the survey. He mentioned that the study was the fourth of its kind conducted since 2020 to understand the impact of the pandemic on businesses in Ghana. The objective was to assess how businesses were recovering from the pandemic amidst new challenges and to understand how trade between local and European firms was faring.
The survey also highlighted how firms were adopting digital and green technologies in their operations. Approximately 12 per cent of the businesses surveyed were embracing digital technologies to counteract the impact of the pandemic. Formal firms were found to be investing more in digital technology compared to informal firms. However, the adoption of energy-efficient solutions in operations was found to be low among companies surveyed.
Dr. Johnson Owusu Kagya, Chief Statistician of the GSS, emphasized the importance of the study in providing evidence-based data for decision-making by policy makers. He expressed gratitude to the World Bank, EU, and UNDP for their support. Mrs. Mehnaz Safavian, Practice Manager of the World Bank, highlighted the importance of the private sector in driving growth for Ghana, especially in the face of current challenges.
Overall, the survey findings shed light on the resilience and recovery of businesses in Ghana post-COVID-19 and the efforts being made to adopt new technologies and practices for sustainable growth. The collaboration between various organizations and the GSS has played a crucial role in gathering valuable data to guide policy decisions and support the private sector in Ghana.
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