• About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV
Monday, September 25, 2023
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Opinion
  • Infographics
  • Listen To CitiFM
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Opinion
  • Infographics
  • Listen To CitiFM
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
No Result
View All Result

STC lost over GH¢40M due to COVID-19 restrictions – Nana Akomea

Jonas NyaborbyJonas Nyabor
September 17, 2021
Reading Time: 2 mins read
ShareShareShareShare

The Managing Director of the State Transport Company (STC), Nana Akomea, says the imposition of COVID-19 restrictions has resulted in the loss of about GH¢48 million so far to the company.

According to him, the company’s operations in neighbouring countries like the Ivory Coast, Burkina Faso, Togo and Benin, which proved to be very profitable, had to be halted due to the closure of borders as part of efforts to stop the spread of COVID-19.

Speaking on Eyewitness News, Nana Akomea said there were great prospects for the company before the COVID-19 pandemic, but they are currently operating through the challenges presented.

“The main problem that we are facing now is that, because of COVID, we have lost nearly GH¢40million since March 2020 as STC…. In March 2020, the borders were closed, and our francophone businesses give us GH¢2.5 million each month.”

He said the company’s new investment of a GH¢1 million terminal in Coutonou, Benin, happened not long before the pandemic.

“We bought a big terminal in Cotonou and the borders were shut… Abidjan’s operations alone were enough to pay our salaries… All of that is gone, so every month we lose GH¢2.5 million from March up till September, and we are still losing. When the lockdown was lifted, we were asked to do social distancing for five months. Meanwhile, the cost of operation is the same. We lost nearly GH¢8 million in those five months. So it has been difficult,”  he added.

Nana Akomea, however, said the company is making efforts to diversify and make the most of the situation.

He also acknowledged the GH¢10 million COVID-19 relief STC received from the government, adding that the company has to work hard to sustain its operation.

“Government gave us GH¢10 million as support… We don’t know when the borders will open, so we are taking measures to diversify the terminals in Ghana to make up for the loss of the terminals in francophone counties. We just did a nice terminal in Cape Coast which should be opening soon,” he added.

ShareTweetSendSend
Previous Post

Incredible Zigi storms Accra Mall with Guinness Ghana’s Black Shines Brightest flash mob

Next Post

Adherance to safety protocols ‘our best armour’ against COVID-19 – GHS boss

Related Posts

Top Stories

BoG maintains policy rate at 30%

September 25, 2023

#OccupyJulorbiHouse demo: Accra Regional Police Commander summoned over brutalities

September 25, 2023
News

Accra will suffer with more than 50 millimetres of rain – GMeT

September 25, 2023

No specific food increases libido – Dietitian advises men to eat healthily

September 25, 2023
News

IGP leaked tape: Supt. Asare to invite three witnesses to testify against Dampare

September 25, 2023

Kwahu Traditional Council calls on Government to fix roads to tourist sites

September 25, 2023
Next Post
Director-General of the Ghana Health Service (GHS), Dr Patrick Aboagye

Adherance to safety protocols 'our best armour' against COVID-19 - GHS boss

TOP STORIES

BoG maintains policy rate at 30%

September 25, 2023

#OccupyJulorbiHouse demo: Accra Regional Police Commander summoned over brutalities

September 25, 2023

Accra will suffer with more than 50 millimetres of rain – GMeT

September 25, 2023
Load More
ADVERTISEMENT
Citinewsroom - Comprehensive News in Ghana

CitiNewsroom.com is Ghana's leading news website that delivers high quality innovative, alternative news that challenges the status quo.

Archives

Download App

Download

Download

  • About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV

© 2023 All Rights Reserved Citi Newsroom.

No Result
View All Result
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Opinion
  • Infographics
  • Listen To CitiFM
  • Videos

© 2023 All Rights Reserved Citi Newsroom.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT