Business News of Wednesday, 3 June 2020Source: www.ghanaweb.comCoronavirus: Agribusiness posts 61.2% revenue loss due to pandemic – ReportFile photoChamber of Agribusiness Ghana (CAG) has said agribusinesses in Ghana have lost 61.2 percent of their monthly revenues as a result of the COVID-19 pandemic, according to the latest Agribusiness Sector Survey Report 2020. According to the report, small-scale agribusiness firms in the country were the hardest hit with a revenue shortfall of about 77.4 percent. Large scale firms, on the other hand, suffered a 55.4 percent revenue loss, with medium scale agribusinesses remaining in the middle. “One of the major challenges in the agriculture sector included rampant land litigation issues which threatens the investments of businessmen and eventually, leads them to abandon the land, resulting in huge losses,” the report noted. He added that the agriculture sector is one that can still thrive in this period of the coronavirus pandemic considering food production and availability are basic necessities of life.

Source: GhanaWeb June 03, 2020 13:41 UTC