Ghanaian Banks Take Precautionary Measures Against Coronavirus

Banks in Ghana are seriously putting in place precautionary measures to prevent the spread of coronavirus. Two of the banks are Bank of Africa and Fidelity Bank.

They have been sending messages out to their customers informing them about measures they are putting in place to ensure their safety.

“Dear Valued Customer, in our attempt to prevent the spread of COVID-19, we wish to inform you that we will be putting in place certain measures to safeguard you and our staff whiles on the Bank’s premises. Kindly bear with us as some of these changes may not be in line with our regular Cultural and Banking procedure. TOGETHER, Let’s stay safe!,” Fidelity Bank wrote to its customers.

In a text message to its customers, Bank of Africa wrote: “In light of the COVID-19 pandemic, BANK OF AFRICA wishes to inform you that precautionary measures have been put in place to ensure the health and safety of our customers and staff.”

It said “During this period, we encourage you to use any of our Digital Banking Applications (BMobile, BOAWeb, Visa Cards, Sesame Cards) for your transactions.”

We’ve assessed potential economic impact of coronavirus on Ghana – Oppong Nkrumah

The Minister for Information, Kojo Oppong Nkrumah, says Ghana’s Economic Management Team and the Finance Ministry, has carried out adequate assessment of the economic impact of the spread of the coronavirus pandemic.

He says the assessment has selected areas of advantage that can be explored by the country to locally produce some basic things needed to fight the virus.

Globally, the disease has had a huge economic impact, as some flights have been halted, while some countries have restricted entry especially from countries considered as the epicenter of the disease.

Several high profile business events have been cancelled, leading to the loss of millions of dollars. The global restrictions also mean that in some countries, production has reduced as working hours have been reviewed drastically to contain the spread of the disease.

In China, the source of the disease, manufacturing has slowed down significantly, affecting its trading partners. Already, Ghanaian traders who rely on Chinese impacts are feeling the impact of the reduced activities in that country.

$100m allocated for coronavirus fight – Nana Addo

In an address to the nation on Wednesday, 11th March 2020, the President Akufo-Addo said he has directed the Minister for Finance, Ken Ofori-Atta, to make available the cedi equivalent of US$100 million to enhance Ghana’s Coronavirus preparedness and response plan.

This amount, according to President Akufo-Addo, “is to fund the expansion of infrastructure, purchase of materials and equipment, and public education”.

He further explained that with the declaration by the World Health Organisation (WHO) of the Coronavirus disease as a pandemic, it is important that Ghana steps up her preparedness to ensure that beyond the initial measures that have been put in place, a ‘whole of Ghana’ approach is adopted in preparation for a possible hit within the country’s borders.