Business operators in the formal and informal sectors have been urged to adopt innovative ways to sustain their businesses amidst the ravaging effects of the Coronavirus pandemic.

The pandemic has impacted Ghana’s economic life as revealed in statistics from the Ghana Statistical Service, the United Nations Development Program and World Bank showing that 770, 000 workers had cuts in their wages and 42,000 others lost their jobs.

The Acting General Secretary of the Industrial and Commercial Workers Union, ICU, Morgan Ayawine made the assertion in Bolgatanga during the Upper East Regional conference of the union.

It was revealed that many organizations in the country, especially the hospitality and tourism sectors are operating at half their production capacity, and others, too, have completely shut down resulting in a sharp decline in socio-economic activities and development in all facets of life.

These entities which complement efforts of government in the area of job creation had suffered the brunt of the ravages of the COVID-19 pandemic during the first wave in Ghana, as land borders and the international airport were closed, thus depriving them of the market since they derive their fortunes and financial resources from travelers coming from outside the country either on business or tourism.

Speaking at the ICU-Ghana conference in Bolgatanga, Acting General Secretary of ICU, Morgan Ayawine, underscored the need for the business industry to adopt creative and innovative strategies to stay in business.

The Acting General Secretary who said the banking sector cleansing and the impact of the COVID-19 disease affected rural banks in the country, called on the government to create an enabling environment for the banks to operate since the country cannot continue relying on IMF for support.

The Upper East Regional Industrial Relations Officer, Agamu Rudolf presenting a report of activities that took place between the years 2017-2021, said the union was concerned with the interest of members and attended to resolve some disputes between members and their employers.

Despite the devastating effects the collapse of some microfinance companies and the Coronavirus had on businesses, Mr. Agamu said the informal sector in the region was able to train and graduate more than one, thousand trainees within the four years.

Mr. Agamu who declared zero-tolerance against abuses on its members pledged that the union will continue to work in the interest of its members.

The Upper East regional conference of ICU-Ghana was also used to elect new executive members to steer the affairs of the union for another four years.

The Executive members are Justin Ayaribisa-chairman, Desmond M’BaAwinguut – Vice Chairman, Hilda Adams, Trustee and Salifu Majeed Executive Member.