According to the Ghana Statistical Service (GSS), two-thirds of Ghanaian families have not recovered from COVID-19 financial blow.
Only 26.7% of respondents said that their total household income remained the same as before COVID-19, March 16, 2020, according to the GSS’s COVID-19 Households and Jobs Tracker Wave 3.
Once again, according to the GSS, 5.1% of respondents said their overall income grew, while 68.2% said their family income declined.
“Of the different sources of income, non-farm family business income saw the biggest reduction. 77.3% of households with income derived from a non-farm family business saw a decrease in income and only 4.4% reported an increase in income.”
“The 4.2% of households who got income from pension saw the smallest change of this income source. 76.7% reported no change in pension income, 13.0% a reduction and 10.3% an increase.”
Since March 2020, around 86.7% of families have utilized some type of coping mechanism to deal with the negative consequences of COVID-19. Borrowing became a more common coping strategy in 2021, according to the tracker.
Savings (43%) and limiting food intake were the most prevalent coping mechanisms (42.9% ). Respondents said that most types of coping mechanisms were utilized more often in 2020 than in 2021.