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Ghana’s recent economic crisis and its influence on job security

Since the start of the year, Ghana has been going through an economic slowdown.

It goes without saying that the worst inflation Ghana has seen in 21 years is having an impact on local businesses.

One of the companies affected by this undesirable scenario is the FC Beauty Group of Companies, which recently let go of 70% of its workforce.

According to the company’s CEO, Mrs. Grace Amey-Obeng, the nation’s current economic situation is the reason why she had to fire 70% of her workforce.

She mentioned that she had to close 80% of her firm in order to stay afloat, which unintentionally had an impact on many of her employees.

“I have shut down 80% of my enterprises and fired 70% of my employees. As of right now, we work three days per week. It’s too hectic right now. Back to our Ghana, please. We do not want this Ghana. We cannot compensate employees for work that is not performed. She tensed up.

When she spoke at a memorial lecture to mark the tenth anniversary of President John Evans Atta Mills’ passing, held at the Cedi Auditorium of the University of Health and Allied Sciences, she did so in Ho (UHAS).

She continued by expressing her admiration for the late president and pointing out his numerous contributions to the promotion of women’s rights in Ghana.

At the moment, the nation is attempting to secure a $3 billion bailout from the IMF.

In exchange, the Ghanaian government has expressed a strong willingness in cooperating with the IMF as both parties seek to forward negotiations. The failure of both parties to swiftly agree on the conditions for debt operations is the sole factor delaying the transaction.

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