Covid-19 : Habit of saving greatly affected – Chamber of Commerce

Covid-19 : Habit of saving greatly affected - Chamber of Commerce

Covid-19 : Habit of saving greatly affected - Chamber of Commerce

he Ghana National Chamber of Commerce and Industry says the Covid-19 pandemic has greatly affected the saving habit of most Ghanaians.

The already low habit of savings has declined as most Ghanaians now chose to dis-invest and spend their monies on their families.

President of the Ghana National Chamber of Commerce and Industry, Nana Appiagyei Dankawoso I said people are not saving anymore due to the pandemic and those with an investment are also dis-investing.

He said this is affecting the sector.

He called for a pragmatic decision to deal with the situation.

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“The habit of savings has been seriously affected, those who have investments are also disinvesting because they still want money to feed the family, those who are at the macro levels and there are also over-dependence so it is affecting everybody in the system every part of our economy and we need to take pragmatic decisions very effective and efficient decisions to make things run fast for us.”

Some companies have also laid off workers which is making things difficult for most families. Government in its quest to help the situation has rolled out some stimulus package for small businesses.

Ghana’s Covid-19 total case count now stands at 10, 358. Meanwhile, 3, 824 have also recovered from the virus so far. The death toll is at 48.

Regional breakdown

The Greater Accra Region is still leading the chart with 6,642 cases, followed by the Ashanti and Western Regions with 1,799 and 778 cases respectively.

Cases per Region

Greater Accra Region – 6,521
Ashanti Region – 1,799
Western Region – 778
Central Region – 539
Eastern Region – 198
Volta Region – 162
Western North Region – 74

Oti Region – 47
Upper East Region – 42

Northern Region – 37
Upper West Region – 22
Bono East Region – 13
North East Region – 2
Savannah Region – 1
Bono Region – 1
Ahafo Region – 1