In December 2019 the news of the COVID -19 broke out in China and has since become a pandemic affecting economies at all developmental stages (from developing to developed) causing leadership of all nations to constantly explore options to eliminate or minimize the impact of the virus on their people.
In line with this, the President of the Republic of Ghana (Nana Addo Dankwa Akufo-Addo) swiftly announced measures to curtail the spread of the Virus. As a business-friendly government, the government has introduced several interventions aimed at mitigating the impact of the Virus on the business community.
The leadership and members of the Ghana Chamber of Young Entrepreneurs wish to commend the president for instituting these interventions. Evidently, the Government’s foresight in dealing with this pandemic has earned it the admiration of Ghanaians and the world at large.
We at the Ghana Chamber of Young Entrepreneurs see this as an opportunity in disguise that will refocus the lens of government on promoting domestic production of made in Ghana goods (substitutes). Announcing stimulus packages for the enhancement of sectoral production of pharmaceutical, agriculture, textile, printing, fabrication and agro-processed goods is a step in the right direction.
Being the Chamber representing young entrepreneurs in Ghana, we have noted with great interest the stimulus packages and interventions put in place by his Excellency through the Ministry of Trade and Industry and the National Board for Small Scale Industries to enable SMEs overcome the impact of the COVID -19 pandemic on their businesses.
Our members who form a critical mass of the population and the business community in Ghana are are greatly affected by this Virus. Our members have started evaluating various outcomes including total collapse of their respective businesses due to the fact that they have lost revenue, cannot keep with various wage bills and other obligations to their suppliers and partners.
It is therefore very essential that their businesses are salvage as soon as possible so as to prevent a possible spike in the unemployment levels in our country.
As an immediate next step, we will engage the Minister of Trade and Industry and his technical team as well as the leadership of National Board for Small Scale Industries on how we can work together to ensure businesses of our members bounce back to enhance the smooth recovery of the economic gains achieved by the government.
We anticipate that the measures introduced by the President and the collective prayers of the people of Ghana will ensure the eradication of the Virus as soon as possible so normal business will resume.
Long live GCYE! Long live Ghana!!
God bless and safeguard us all