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FEATURE: The Economic Ramifications of COVID-19 for Ghana



The world has been thrown into a state of pandemonium. There is growing uncertainty about the potential havoc coronavirus could cause. From Wallstreet to other financial markets down to individual households in the remotest part of the world, the impact of this novel virus is been felt.

According to the World Health Organization (WHO), COVID-19, as it has come to be known, are a large family of viruses that cause illness ranging from the common cold to more severe diseases.


December 31, 2019 – Cases of pneumonia detected in Wuhan, China, are first reported to the WHO. During this reported period, the virus is unknown. The cases occur between December 12 and December 29, according to Wuhan Municipal Health. The crisis has become dire with data from WHO reveals confirmed cases globally at 191 127 with 7807 deaths as at 18.03.2020.

Global Impact

One may wonder why global leaders and businesses are panicking over coronavirus. The World Health Organisation (WHO) has declared this novel coronavirus a pandemic. Economic activities have been disrupted. The overall impact on the global economy, at the moment, is immeasurable. Some economic experts suggest the implications could be far reaching than that of the Great Depression around the 1930s when the global economy experienced a contraction of about 26 percent.

As countries continue to lockdown and institute travel restrictions in the wake of COVID-19, the impact on the aviation industry goes beyond flights to-and-from mainland China. The International Air Transport Association (IATA) estimates an impact of around $30billion solely due to decline in flights to and from China. One can envisage the dire implications for the global aviation industry.

Financial markets are plummeting, factories, businesses, hotels and schools are closing. The global economy is near shut down.

Source: Dow Jones

Stimulus Packages by Global Leaders

As this novel virus spread across the globe causing unforeseen damages to human existence and business survival, several world leaders, particularly from developed countries are taking measures to safeguard their citizens and businesses.

US President Donald Trump has described the coronavirus crisis as an ‘‘invincible enemy’’. The US Congress on Wednesday 18.03.2020 approved a one trillion-dollar stimulus package. According to CNN, individual Americans would be supported with $500 billion in cheques. The remaining $500 billion is to support businesses severely affected by COVID-19.

The French government has earmarked a stimulus package of €45 billion for businesses and also guarantee bank loans to a tune of €300 billion. This was revealed by Finance Minister Bruno Le Maire.

German Chancellor Angela Merkel indicates the government would do “whatever is necessary” to cushion businesses. Finance Minister, Olaf Scholz, indicates that businesses will be given a limitless credit from the state-owned development bank, KfW. Starters would be supported with the equivalent of US$614 billion, Economy Minister Peter Altmaier also noted.

Forbes indicates the UK government has unveiled a stimulus package of $400 billion total (£330 billion) which was disclosed by recently appointed Chancellor Rishi Sunak. This amount is the equivalent of 15 percent of UK GDP.

These world superpowers have instituted measures to tackle the fallout of this health cum economic crisis. COVID-19 is a global pandemic, meaning no country is spared. The world has become a global village and no economy is in isolation. Developing countries cannot ‘run to’ to developed economies for financial aid. They are at the mercy of their meagre national income. The biggest question is, will developing countries such as Ghana survive this economic meltdown?

Ghana’s economic gains over the past years are likely to be erased by this novel coronavirus. World Bank data indicates that the country’s GDP increased by 1.3% in the first quarter of 2019 over the 5.4 percent recorded same period in 2018.

The country depends largely on export of goods and services. Total export revenue for 2018 stood at US$23.118 billion according to the World Bank and represents 35% of GDP. With most trading partners and global businesses experiencing the shocks from this epidemic, one could anticipate a significant decrease in export revenues in the coming months and probably years. A decrease of a minimum of 10% (US$2.3billion) of the 2018 export revenue could spell doom for the country.

Crude oil prices have also plummeted below $30 per barrel. According to CNN Business, this is the lowest since 2002. Nasdaqtrading data indicates that prices have falling over 50% from US$53 to US$25 between February and March 2020. Data from the Ministry of Finance shows that Ghana earned over US$0.6 billion from petroleum receipts. As the country’s second source of export revenue, Ghana may grapple with trade imbalance.

In a similar vein, several businesses along the export supply chain could experience the ripple effects from this decline. This comes with associated decrease in tax revenues from such businesses. Again, with several countries under lockdown, global trade flows are expected to decrease. Revenues from the country’s ports and harbours would obviously decline. Other consequences could be job losses for temporal workers at the ports and harbours.

The country is also expected to see sharp a decline in revenues from the tourism, hospitality and aviation industries. The government of Ghana issued travel restrictions on several countries as a result of the corona virus outbreak. A Citinewsroomreport indicates that Emirates airline flights to and from Ghana have been suspended until May 2020. Several airlines could follow suit. The losses to African airlines could exceed US$4 billion CNN indicates.

According to a publication on Ghanaweb, Director-General of the Ghana Civil Aviation Authority (GCAA), Simon Allotey, revealed that as a result of the travel restrictions imposed on flights to Ghana, the country’s aviation sector could see a drop in revenue. He noted that “Airports Company depends largely on charges levied on airport passenger charges, while the GCAA also depends on landing fees, reroute charges for aircraft overflying Ghana’s airspace and the passenger safety charge. So once passenger numbers drop, there will be a corresponding decrease in passenger safety charge. For now, we can generally say there will be at least 20% dip as the situation improves or deteriorates, there could be either a further increase or decrease”.

The other fallout from the coronavirus pandemic on Ghana could be job losses. This would worsen the unemployment situation in the country. The International Labour Organisation (ILO) indicates that ‘‘the world of work is being profoundly affected by the global virus pandemic. In addition to the threat to public health, the economic and social disruption threatens the long-term livelihoods and wellbeing of millions’’. According to Reuters, ILO estimates that about 25 million jobs could be affected globally unless governments take measures to mitigate the impact.

In the budget statement for 2020, Ghana’s Finance Minister, Ken Ofori-Atta, projects a total revenue equivalent of US$119.55 billion. With a gloomy global economic outlook, this projection may not be achieved. According to Bloomberg, the Bank of Ghana anticipates a decline in GDP by 5%.

Government of Ghana Measures

The central bank of Ghana has instituted some measures to mitigate the impact on the economy. The monetary policy committee on Wednesday 18.03.2020 reduced the policy rate from 16% to 14.5%, the first cut since January 2019.

A reduction in the policy rate alone may not cushion businesses and the economy from the shocks caused by this global pandemic. Speaking on Accra based CitiTV, the Chief Executive Officer of Dalex Finance, Ken Thompson, suggests that the government should initiate a stimulus package for tax compliant companies. This he indicates would ‘‘bring relief to Ghanaians immediately, and safeguard the economy from crumbling.’’

Resulting trade deficit from the ongoing crisis could hinder the country’s short-term development goals. One just hopes the worse does not happen.

In view of this, the government could consider the following measures:

  • Emergency budget review:

As a matter of urgency, the government should review the 2020 budget. The country could seek support from the World Bank’s US$12 billion package for countries affected by COVID-19.

  • Stimulus package for individuals and businesses:

Immediate package may include withdrawal of the proposed Communication Service Tax and taxes on fuel. Reduction in Income Taxes for employees. Welfare benefits for socially and economically deprived and vulnerable Ghanaians.

  • Suspension of non-essential expenditures:

The Minister of Finance after a review of the 2020 budget should defer all non-essential expenditures.

These are not ordinary times. Government must undertake pragmatic steps to reduce its financing gap created by this novel coronavirus. These among others, could help reduce the impact of COVID-19 on Ghanaians.

By Ernest Degraft-Amoah

(M.A. International Business Administration and Foreign Trade)


People & Lifestyle

Be Vigilant: WorldRemit issues statement on fraudulent money-doubling scheme in Ghana



WorldRemit has issued a statement following a warning from the Bank of Ghana for the general public to be wary of a money-doubling scheme operating in Ghana under the pseudo name “Worldremit”, saying, the scheme is fraudulent and does not reward investors as promised.

The Central Bank made it clear that, this fraudulent scheme is distinct from the globally renowned Fintech, “WorldRemit” which is in the business of international fund transfers.  WorldRemit has since issued an official  statement on its website concerning the matter, as follows:

Dear WorldRemit partner,

We’re aware of recent fraudulent attempts to impersonate our brand online in Ghana – using our name or pseudonyms like Worldremit or World Remit.

We aim to be ever-vigilant in our approach to cybersecurity and fraud prevention measures, and do our best to shut down these sorts of attempts when we see them. The reality is that there are many fraudsters on the lookout to scam customers out of their money or personal details. This is not unique to us, but is a very common tactic used by unscrupulous people who target our industry.

Ways we minimise the impact of fraudsters:

1. Educate our customers on security measures, including our most recently published Security Guide, which you can find online here:
2. Report and remove fraudulent accounts that are active on the various social media sites where we operate
3. Only ever use secure connections through our website and app, which use a bespoke, in-house machine learning model to protect against fraud
4. Utilise a bounty programme which pays white hat hackers to find vulnerabilities in our system to then be patched and secured immediately
5. Implement next generation antivirus to keep our system secure from any fraudulent attempts to access our systems internally
6. Adhering to PCIDSS compliance to protect all cardholder data

As always, we seek to keep our customers safe from all online scams where our service is concerned. Some simple steps we would urge our audience in Ghana to adhere to are:

  1. Check that they are visiting our official website (you will see a secure lock pad in the browser window next to our URL).
  2. Check that you are downloading our official WorldRemit app before making any transactions. We will never ask for your personal details over our social media sites in a public forum, such as full name, address or bank details. We take your safety very seriously and request that if you do see any instances of people acting fraudulently that you join us in reporting them on whichever channel they appear.

Thank you for your help in this matter,

Your WorldRemit team


WorldRemit is a cross-border digital payments service that provides international money transfer and remittance services in more than 130 countries and over 70 currencies. It was founded in 2010 by Ismail Ahmed, Catherine Wines, and Richard Igoe.

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People & Lifestyle

Baileys Delight marks World Liqueur Day in Lush Style



Baileys Delight, a light and lush cream liquor with a taste of African honey with rich dairy cream, has commemorated this year’s World Liqueur Day in a playful and indulgent way.


The first of its kind to be celebrated in Ghana, World Liqueur Day is set aside to celebrate and appreciate the plethora of liqueurs across the world.


As part of the celebrations, Baileys Delight popped up in town to share the delightful experience with its patrons by gifting them a delightful box containing items such as  Baileys Delight infused chocolate bar, a branded glass and a bottle of Baileys Delight — right from the heart of Baileys.


To reiterate the celebratory moment and leave a lasting impression, the gifting came with a customized festive balloon. The goal of the gifting is to share a delightful experience with Ghanaians and rekindle the light taste of Indulgence in their lives.


Some of the patrons who benefitted from this gifting spree include Tiktok stars Wesley Kesse and Say Logan.  Others include media icon Chrystral Karyee, Nana Made in China, Asantewaa Neizer, Gisela Amponsah, Akosua Win, and a host of other inspiring figures. Beneficiaries were also delighted about the message of responsible drinking and urged that others explore the platform for more.


Baileys Delight remains the delectable offering of choice from the makers of Baileys Original Irish cream, and offers a flawless fusion of Cream Liqueur with an African twist to present a perfectly silky, smooth, and delicious treat. Baileys Delight is invitingly charming.


The deliciously light cream liquor ingredients are a product of meticulous craftsmanship, innovation, and delicious trendsetting that Guinness Ghana is renowned for.

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People & Lifestyle

Top YouTube Analytics Essential to Grow Your Channel



Having a successful channel is more than growing views and subscribers. There are a lot of factors that come into play when analyzing your channel’s growth. In addition to view and subscriber count, strategizing with more metrics in mind provides the transparency you need to grow your channel.

It can feel overwhelming and like a foreign language, but Promolta has broken down the analytics you need to watch to create more successful videos and in turn, grow your channel!

1. Pay Attention to Impressions

Impressions are the number of times your video’s thumbnail appeared on a user’s screen. This is a great metric to see how visible your videos are on the platform and where users are more likely to see them.

To dig a little deeper, the impression click-through rate shows the number of people who clicked on your video from just seeing your thumbnail. This helps you determine which thumbnails and titles work for pulling in views. And not just views, comparing this metric with average view duration lets you see how long people watch your video. Having a high impression click-through rate and high average view duration means users are responding well to your thumbnail and title and are interested in your content.

2. Keep Up with Watch Times

It’s just as important to keep track of views as it is to keep track of watch times. Watch time is the number of minutes your viewers have spent watching your content. Identifying which videos gain the most watch time can help you determine what content your audience prefers. This metric is key to gain more visibility as the YouTube algorithm pushes videos with high watch times and engagement.

3. Examine your Audience Retention

Similar to average view duration, audience retention shows how long your viewers are watching and when they stop. It also shows specific times in the video that your viewers engaged with most. This metric allows you to break down your video second by second and discover key moments that pulled in your viewers. This is useful information to keep in mind when you create your videos.

4. Identify Your Traffic Sources

Identifying where you pull in your viewers from is important to help you bring in more. Traffic sources are where on YouTube your viewers click on your videos and what external sites they come from. Keeping track of your traffic sources can help you strategize marketing for those top sources and bring in more viewers.

5. Learn Where Your Videos Are Being Shared

Similar to traffic sources, you want to know where your videos are being shared. Looking at the sharing service metric lets you see what social media sites your video is being shared to and where your video is being embedded. This is essential to create more shareable content for your viewers, pull in more views from external sources to grow your channel.

6. Discover What Devices Your Viewers Uses

What device your viewers are using can influence what videos they watch. Looking at the device type metric will show you where most of your views come from. Mobile users might be more inclined to watch shorter content while computer users might apt for longer videos and playlists. With this data, you can optimize your content for the device type most viewers use and pull in more engagement.

7. Study Your Card Click-Through Rates

Card click-through rates measure the percentage of viewers who click on your cards. It can also show which type of cards your viewers prefer. Analyzing this metric can guide you to identify your most engaging cards and even the best timing and placement. You can use this data to implement engaging cards into all your videos helping bring in more views and subscribers.

Learning about your viewers is vital to learning how to keep your viewers and gain more. While there is a litany of metrics available, these core analytics are always relevant no matter how big your following grows.

We hope you enjoyed this blog.


If you are interested to get your YouTube channel and videos discovered by A LOT more fans, then start your campaign on now. We will distribute your video on blogs, games, apps, and websites. Over 100,000 paying customers have used since 2012 and we would love to help you get noticed.

Still not sure? We have successfully promoted videos from Sony, Disney, Universal, Ted Talk, HP, AWS, Monster Energy Drink, Eminem, Young Buck, Gucci Mane, and Katy Perry. Thus, with your videos will get seen and discovered by a lot more fans.

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People & Lifestyle

H.E Nana Addo Danquah Akufo-Addo, H.E Paul Kagame To Grace YouthConnekt Africa Summit



The Government of the Republic of Ghana, through the Ministry of Youth and Sports and the National Youth Authority, in partnership with the YouthConnekt Africa Hub and United Nations Development Programme (UNDP), will host the 2021 YouthConnekt Africa Summit.

The Summit, which will be held from Wednesday, 20th October to Friday, 22nd October 2021, is based on the theme: “Africa Beyond Aid: Positioning The Youth for The Post COVID Economy and AfCFTA Opportunities.”

This will help highlight coordinated trade and job creation policies and ignite a conversation on social investment in African Youth.

As a hybrid event, the summit will take place at the Accra International Conference Centre and Online.

The 2021 YouthConnekt Africa Summit will provide a platform for all partners involved in youth development to strategize around policies, programs and partnerships that position African youth to cater for the AfCFTA and advance regional integration.

The summit will also positively impact the creative industry through skills development, sports, tourism and the digital economy.

The President of Ghana, Nana Addo Dankwa Akufo-Addo, the president of Rwanda, Paul Kagame and other keynote speakers with experience in entrepreneurship and trade will be speaking at the Summit.

Other noted speakers include the Minister for Youth and Sports in Ghana, Hon. Mustapha Ussif, the Minister for Youth and Culture in Rwanda, Hon. RoseMary Mbawazi and Ahunna Eziakonwa, the UNDP Assitant Administrator and Director, Regional Bureau for Africa.

The 2021 YouthConnekt Africa Summit will offer, over the three days, a combination of informative, high-level plenaries, panel discussions, keynote speeches, small group workshops, research presentation and off-site activities.


Further details can be found via:

About The YouthConnekt Africa Summit:

The YouthConnekt Africa Summit is an annual convening that connects youth from across the continent and beyond with policy influencers, political leaders, public/private and development sector institutions to engage, discuss, design, and accelerate youth empowerment efforts at the continent level.

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People & Lifestyle

The Tropical Fiesta 2 Artist Line Up is crazy !!!



Wait Wait Wait , it’s been almost 2 years since we seen a line up like this .What ? Not since COVID.
Friday evening Akwaboah, Efya, Adina, Kwabena Kwabena perform at the Verve Cliquot garden party with the YWF Band .

Later that night D-Black the enjoyment minister hosts guests from the Uk, South Africa, 10 djs & mc’s at the Bleu Me Away Rave.

On Saturday morning, there’s a celerity soccer gala , snooker and spar tournament, volley ball contest for the ladies and gold lessons before the All White Exclusive Boat Party hosted by socialite, artist, entrepreneur Mona 4Real, South African reality tv stars Faith Nketsi and Lady Kim, Ace entertainer Segos Pumpkin from South African & Belgian Model Shallie on the New Dodi Princess Boat.

The Tropical Traffic pool concert with Mr. Drew, Sefa, Kofi Jamar, Mona 4 Real, Dope Nation, Mz Vee, SWADU (Seirra Leone), Segos Pumpkin (SA), Dj Neptune (Nigeria), Quamina MP + more jamming on stage happens right after to climax an epic day.

On Sunday 4Syte tv hosts the biggest pool
Party yet at the Royal Senchi at 2pm before Stonebwoy, D-Black & Medial finish us off at the Black Out Rave that same night as we rave till the am.

Patrons will be treated to 10 exclusive parties all weekend , jam with the Young , Wild & Free band all weekend and also vote which of their favourite legendary highlife acts they want to see on Monday’s brunch before they leave back to their homes.

Tropical Fiesta is a 4 day 3 night fun get away music & lifestyle festival experience brought to you by Livewire Events and supported by Club Onyx, Yfm, 4Syte Tv, Event Factory, 3 Music, Oasis Lounge, Muse Africa, Belaire, Verve Cliqout & Hennessy.

This year’s edition dubbed Tropical Fiesta 2, 4 Days and 3 nights away from it all happens at the Royal Senchi, Akosombo from the 5th – 8th of November 2021.

The 8am aerobics class by the pool , the cigar lounge and vendor market place are perks to look out for at this years Tropical Fiesta happening from 5-8 November at the Royal Senchi.
Get your packages or tickets now at or for
Info / Reservations : +233 55 453 1243 | +233 54 381 1852 | +233 20 757 6743

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People & Lifestyle

Get stylish with the HUAWEI FreeBuds 4i with long lasting battery and immersive noise cancellation



Complete with High quality sound, long lasting battery topped off with Immersive noise cancellation


Are you looking for a pair of new wireless earphones with high quality sound, super long battery life, impressive active noise cancellation, fast charging, and one that comes with a chic design? Huawei has exactly what your heart desires – the HUAWEI FreeBuds 4i earphones with high quality sound, longest battery life and active noise cancellation.



Listen to your music with high quality sound

Huawei’s earphones are designed for the young, active city dwellers who enjoy listening to their music a bit more than everyone else does. Speaking of music, the HUAWEI FreeBuds 4i comes with a 10mm dynamic driver with well-balanced performance, ensuring sharp sound and high quality no matter the kind of audio. The HUAWEI FreeBuds 4i are expertly tuned for music, they subtly balance instrumental and vocal audio frequencies making these pair a great companion for all sorts of music lovers.


Rapid charging with long battery life

What is the point of wireless earphones if they cannot be charged swiftly or if their batteries run out of power every now and then? Another problem avoided with the HUAWEI FreeBuds 4i, more charging speeds equals more operational time. The HUAWEI FreeBuds 4i can offer 10 hours of continuous music playback or 6.5 hours of voice call on a full charge. Together with the charging case, it could achieve up to 22 hours of music playback or 14 hours of voice call. Moreover, these earphones can provide 4 hours of audio playback with just a quick 10-minutes coffee break charge. Additionally, the HUAWEI FreeBuds 4i supports fast charging to address any concerns about low battery. Thanks to its fast-charge and impressive battery life, you no longer need to worry about the battery level when you are out or rush back home just to charge your earphones.


Isolate yourself from unwanted noise

Listening to your favourite tunes when in noisy places could be a challenge, we know. Or, talking to your superior over the phone when in crowded areas can also be difficult sometimes, thankfully the HUAWEI FreeBuds 4i addresses these issues. The HUAWEI FreeBuds 4i actively cancels out noise to provide you with immersive audio, regardless of where you are. Moreover, the HUAWEI FreeBuds 4i comes with an Awareness mode to stay aware of your surroundings and communicate clearly with those around you without having to take off the earphones.

Your calls are also clear, thanks to the multiple technologies used by the HUAWEI FreeBuds 4i including the emission of “inverted soundwave”, supported by two external microphones for accurate sound pickup. It also comes with a unique anti-wind design, which can effectively improve wind noise cancellation for greater call clarity.


A chic and dapper design

Since you are probably going to be wearing earphones a lot, you do not only need them to provide you with high quality sound but you also need them to be sleek and stylish. The HUAWEI FreeBuds 4i comes in three colourways: Ceramic White, Carbon Black and Red, they are also lightweight fitting the ear canal and ultimately making them comfortable to wear all-day long.



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