GEA COVID-19 Employers needs survey: Key findings and Policy Recommendations to Government

GEA undertook a survey of its members from, the period of April, 24 to May 13, 2020, to ascertain the impact of the COVID-19 pandemic on employers and businesses in Ghana. The key findings of the survey are as follows:

1. About 62% of businesses indicated that the pandemic has disrupted their business operations.
2. Majority of businesses (i.e. 64.7%) have ruled out the possibility of engaging new employees, whilst 25 percent have suspended employment contracts. Another 16.20 percent will suspend employment contracts in the near future.
3. Majority of businesses (i.e. 75%) have postponed their investment decisions due to the outbreak of the pandemic.
4. More than half (i.e. 63.8%) of employers responded that demand for their products/services have fallen below normal levels due to the effect of the pandemic on their customers.
5. More than half of employers (i.e. 62.7%) do not have own funds or cannot access external funds to augment their businesses.
6. Over 70 percent (i.e. 73.9%) of the employers want government to provide adequate stimulus packages, for payment of wages/salaries, to enable them to withstand the impact of the virus.
7. Finally, 71 percent of the employers want government to defer Valued-Added Tax (VAT) and Income Tax payments for three months. Click to download full report

B. COVID-19 Economic Response Strategy must come quick: GEA’s May Day Message

GEA has called on government to expedite work on the complete Economic Response Strategy to help industry adjust their operations and stay in business amidst COVID-19 economic challenges. This was entailed in the Press Statement from the Association to mark this year’s Worker’s Day celebration Click to read