• Latest
  • Trending
COVID-19: Prez. Akufo-Addo has failed in showing leadership - David Tamakloe

Lifting lockdown is victory for politics, not science

April 20, 2020
Resetting The Nation: Mahama Urged To Back Rhetoric With Decisive Action On ORAL And Galamsey-Oppong-Fosu

Resetting The Nation: Mahama Urged To Back Rhetoric With Decisive Action On ORAL And Galamsey-Oppong-Fosu

September 25, 2025
Running a small business is demanding. Each day presents challenges that can affect your cash flow, your customers, and your ability to grow. Amid these demands, it is easy to lose sight of long-term financial priorities. However, businesses that last are not only those with good products or strong customer service. They are often the ones with better financial habits. This article outlines seven essential points that will help SMEs manage their finances more effectively, reduce risk, and plan for growth. 1. Start with a Clear Financial Plan A good financial plan gives direction to your business. It helps you set targets, allocate resources, and make informed decisions. Start by defining your financial goals. These should be SMART - specific, measurable, actionable, realistic, and tied to timelines. For example, you should determine how much revenue you need each month, what level of production or service delivery is required to meet that target, and how you intend to achieve it. Once your targets are clear, you will need a working budget. A good budget helps you monitor income and expenses, manage cash flow, and ensure that your business remains on track. It also provides a basis for deciding what to prioritise and what to postpone. At its best, your financial plan should help you answer key operational questions such as what resources are required to operate or grow, where those resources will come from, what they will cost, and whether your business is in a position to take them on. Planning in this way reduces uncertainty and allows you to run your business with greater clarity and confidence. 2. Maintain Accurate Financial Records Accurate financial records are essential for any business. Whether you are managing day-to-day operations, planning for future growth, or applying for funding, clear and reliable financial information allows you to make sound decisions. Many small businesses struggle in this area due to time constraints, limited expertise, or a lack of systems. However, proper record-keeping should never be overlooked. It supports internal decision-making, strengthens external credibility, and improves your ability to respond to opportunities or risks. Business owners can start by gaining basic knowledge of accounting principles and tools. Training employees in simple record-keeping practices also helps to build internal capacity. In some cases, it may be worthwhile to engage professionals who can help you put the right systems in place and prepare essential reports at a cost that makes sense for your business. 3. Choose a Banking Partner Aligned with Your Goals The right banking relationship can make a real difference to your business. A bank like Absa Bank is more than a place to keep your funds. It is a partner that can support your operations, guide your financial planning, and help you take advantage of growth opportunities. Begin by understanding your business needs. These might include working capital support, payments and collections services, or trade finance. Once your needs are clear, assess whether your bank offers the right mix of services, accessibility, and expertise. Your banking partner should make it easier to run your business, not harder. They should share your ambition to grow, be responsive to your concerns, and provide solutions that are tailored to the stage your business is in. A strong banking relationship will give you confidence and peace of mind as you build your enterprise. 4. Deploy Effective Payment Solutions Revenue is the foundation of every business and the way you go about collecting it is key. In today’s economy, customers expect fast, simple, and secure payment options. If your business only accepts cash, you may be turning away potential sales without realising it. Providing customers with flexible payment options is no longer a luxury. It is a necessity for growth and long-term relevance in a digital economy. Offer customers alternatives such as instant bank transfers, mobile money, card payments through point-of-sale devices, or more innovative solutions like Absa Mobi Tap to improve your customer experience and increase your reach. These methods reduce delays, enhance transaction security, and demonstrate professionalism. 5. Meet Statutory Obligations Promptly Every business has legal and regulatory responsibilities. These include filing and paying taxes, submitting Social Security and National Insurance Trust contributions, and meeting other sector-specific requirements. Complying with these obligations on time helps you avoid penalties and disruptions. It also builds your business’s reputation and improves your standing with financial institutions and regulators. To stay compliant, you should adopt a legal structure that suits your business model and goals. You may also wish to seek legal or tax advice at key points in your journey. Planning ahead for obligations such as annual tax payments or quarterly filings ensures that you are not caught off guard. Meeting your statutory responsibilities consistently is a mark of a well-run business. 6. Manage Your Risks Running any business involves risk. These risks may include delayed payments from customers, unexpected costs, economic downturns, or even natural disasters. For small businesses operating with limited resources, such events can be difficult to absorb. This is why risk management must be part of your financial routine. Start by identifying the main risks that could affect your business. Put in place basic measures to protect your operations. This could mean setting aside emergency reserves, purchasing insurance, or diversifying your income streams. Being proactive about risk does not eliminate uncertainty, but it helps you stay in control when challenges arise. It also signals to lenders, partners, and customers that your business is prepared and resilient. 7. Separate Business and Personal Finances It may be tempting to treat your business account as your personal wallet, especially in the early stages. However, failing to separate your business and personal finances can lead to confusion, tax problems, and credibility issues. As a business owner, you should pay yourself a fixed salary. Avoid withdrawing funds at random or covering personal expenses with business income. If you invest personal funds in the business, document it properly as a loan or equity contribution. Keeping your finances separate helps you maintain clear records, assess business performance accurately, and present your enterprise in a more professional light to partners, banks, and regulators. At Absa Bank, we believe that strong financial habits form the backbone of every successful enterprise. Our commitment is to walk with our clients and customers at each stage of their journey, providing guidance, tools, and solutions that help SMEs grow sustainably and with purpose.

Financial Habits Every SME Must Adopt: The 7-Point Check List

September 25, 2025
New Tullow CEO meets Ghana President

New Tullow CEO meets Ghana President

September 25, 2025
Kumasi Businessman Wins Brand New Car in 13th Telecel Dream Car Promo

Kumasi Businessman Wins Brand New Car in 13th Telecel Dream Car Promo

September 25, 2025
Telecel Ghana Holds AI Workshop for Young Entrepreneurs for SME Month

Telecel Ghana Holds AI Workshop for Young Entrepreneurs for SME Month

September 25, 2025
Mahama Renews Africa’s Demand for Permanent Seat on UN Security Council

Mahama renews Africa’s demand for permanent seat on UN Security Council

September 25, 2025
Abandoned Mallam market structure to Be demolished-Ablekuma North MCE

Abandoned Mallam market structure to Be demolished-Ablekuma North MCE

September 25, 2025
Galamsey fight: You can’t repeat the same mistakes and expect a different results – GSSMA warns government

Galamsey fight: You can’t repeat the same mistakes and expect a different results – GSSMA warns government

September 25, 2025
Education Minister vows transparency in SHS placement, warns against system abuse

Education Minister vows transparency in SHS placement, warns against system abuse

September 25, 2025
Cyber Security Authority warns high school graduates against indecent social media posts

Cyber Security Authority warns high school graduates against indecent social media posts

September 25, 2025
Over 1,000 Indonesians sick from school meals in more food poisoning outbreaks

Over 1,000 Indonesians sick from school meals in more food poisoning outbreaks

September 25, 2025
Free SHS Secretariat urges Parents to accept School Placements

Free SHS Secretariat urges Parents to accept School Placements

September 25, 2025
Happy Ghana
Advertisement
No Result
View All Result
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live
No Result
View All Result
Happy Ghana
No Result
View All Result
Home News Featured Stories

Lifting lockdown is victory for politics, not science

in Featured Stories
COVID-19: Prez. Akufo-Addo has failed in showing leadership - David Tamakloe

COVID-19: Prez. Akufo-Addo has failed in showing leadership - David Tamakloe

Share on FacebookShare on TwitterShare on Whatsapp

The President’s decision to lift the lockdown in some four cities in the country despite a scary jump in cases of infection was driven by political data and not scientific data.

The announcement should be seen as a temporal victory for both the economy and politics and not Ghanaians and science.

READ MORE: Prez Nana Addo urges families to conduct private burials

The World Health Organisation (WHO) has cautioned nations to lift lockdown restrictions slowly and not “all at once” in order to avoid the rapid spread and resurgence of the coronavirus. WHO boss, Dr Tedros Adhanom Ghebreyesus has been clear that stringent rules can be relaxed if appropriate measures are put in place.

Dr Adhanom Ghebreyesus unequivocally stated that: “while Covid-19 accelerates very fast, it decelerates much more slowly.”

US President Donald Trump announced last Wednesday that he will unveil plans to reopen the economy, claiming the United States has “passed the peak” of coronavirus cases. In less than 24 hours after his tweet, the US logged a record number of 2,500 deaths. The reaction from the American scientific community was immediate as it warned that lifting the lockdown will increase infection across the country.

German Chancellor, Angela Merkel has similarly urged “extreme caution” when she announced initial steps to reopen some shops and gradually restart school in the European country.

But with a total of 1,042 cases of coronavirus infection, Ghana has lifted its three-week lockdown of some four cities. These cities – Accra, Tema, Kasoa and Kumasi – were placed under lockdown at a time when the country had fewer than 30 cases of infection.

READ MORE: VCs of Technical Universities praise gov’t on COVID-19 management

The hardship brought upon residents of these areas, especially the vulnerable and disabled has been well-documented by colleague journalists. Although aggressive and harsh, the lockdown forms part of a few options available at the moment that have proven useful in stopping the rapid spread of coronavirus across the world.

President Nana Addo Dankwa Akufo-Addo has repeatedly said his government’s reaction to the coronavirus situation in the country is backed by science and data.

“The decision to impose restrictions on movement was backed by the data at hand, and our next course of action, again, is backed by data and by science,” the President told Ghanaians during his seventh address to the nation on Sunday.

But the unimpeachable data available is that as of April 20, 2020, Ghana became the sixth country in Africa to record the highest number of coronavirus cases. The others are Cameroon with 1,017 cases, Algeria with 2,629 cases, Morocco with 2,855 cases, Egypt with 3,144 cases and South Africa with 3,158 cases.

With a staggering 1,042 cases of infection, Ghana has the highest number of cases in the West African sub-region. This presented an opportunity for the government to strive to flatten the curve before easing the lockdown measures.

I have no doubt in my mind that the President’s decision will clear the path for the Electoral Commission to initiate processes to compile a new voter’s register ahead of the crucial December 7 General Election.

Also, the National Identification Authority (NIA) will, in the coming days, announce the continuation of its registration exercises which it suspended in some parts of the country weeks ago. The Ghana Card will be needed for a new voter’s card.

I shudder to say that these are some of the political considerations that informed the President’s decision to end the three-week lockdown. But we need to remind ourselves in this part of the world that the pestilence is very violent and terrible.

READ MORE: President Nana Addo lifts ban on partial lockdown as borders remain closed

History has it that in 1918, Philadelphia prematurely ended its quarantine during the Spanish Flu in an effort to bolster the morale of residents ahead of an impending war. In less than 72 hours, it had recorded over 4,500 deaths from the disease. This was a clear victory of science over politics.

I don’t pray for such a calamity to befall Ghana but if ever there was any time for the politician to listen to science this is it. Recent happenings have revealed that our nation is caught between science and politics. Already, our leaders reluctantly ignored the early signs of the plague.

When Ghana recorded its first two cases in the early days of March, the scientific community advocated the closure of the country’s borders. But this was ignored and done later after the number of cases had shot up.

President Akufo-Addo was too slow to take major steps to address the pandemic. Today, the Christian and medical communities are more critical of how quickly he acted.

There is a lack of confidence in what’s to come and this clearly overlaps with concern over the President’s decision to ease the lockdown. I think the President should have been slow in reopening the economy.

As a devout Presbyterian, I know God is always right and He does not disappoint. Science has also proven to be right on many occasions.

I sincerely hope the President is right on this.

Let’s stand with Ghana in prayers. The President needs our prayers, too.

About the Author

The author, A. Kwabena Brakopowers is a journalist, development communications practitioner, and essayist whose works focus on politics, gender, migration, international relations and development. He could be reached at Brakomen@outlook.com

Tags: Lockdownscience

Subscribe to receive notification everytime a new post is published. We promise to be discrete.

Unsubscribe
Previous Post

Prez Nana Addo urges families to conduct private burials

Next Post

Man of God advises Ghanaians to save essentials for impromptu lockdown

Next Post
Nyansa Boakwa

Man of God advises Ghanaians to save essentials for impromptu lockdown

Search

No Result
View All Result

Listen Live

Happy Kaseɛbɔ 600AM news bulletin
Happy Kaseɛbɔ 600AM news bulletin

BBC Match of the Day Africa

Happy Ghana

Recent News

  • Resetting The Nation: Mahama Urged To Back Rhetoric With Decisive Action On ORAL And Galamsey-Oppong-Fosu
  • Financial Habits Every SME Must Adopt: The 7-Point Check List
  • New Tullow CEO meets Ghana President
  • About
  • advertise
  • Privacy Policy
  • Contact Us

© 2025 Happy FM – Powered by Ghana’s leading radio network. Designed with passion by Global Media Alliance.

No Result
View All Result
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live

© 2025 Happy FM – Powered by Ghana’s leading radio network. Designed with passion by Global Media Alliance.