The fourth wave of the Ghana business tracker survey has revealed that the use of digital technologies, specifically mobile money and selling of products online are at a standstill after a surge was recorded in their usage during the heights of the COVID-19 pandemic.

Presenting the findings of the report, the Head of Industrial Statistics and National Coordinator of Business Censuses at the Ghana Statistical Service, Anthony Kakrah, says that the use of mobile money and online sales surged among firms during the Covid period (May 2020 – September 2021).

“The use of mobile money increased from 36% in May 2020 to 70% in September 2021 while online sales also recorded an increase from 8% to 13% in that same time period. However, the recent survey shows there has been a dip in the use of mobile money and online sales to 68% and 12% respectively in early 2023.”, he revealed.

The survey further shows that 66.8% of micro firms (1-5 employees) use mobile money while 92.6% of large firms (100+ workers) do the same.

However, only 9.6% of micro firms reported engaging in online sales with a larger percentage, 43.7% recorded in large firms.

The report also indicated that medium and large firms were four times more likely to sell online than micro firms.

Meanwhile, the CEO of the Association of Ghana Industries, Seth Twum-Akwaboah has attributed the increasing cost of mobile data as a probable cause deterring micro and small firms from adopting digital technologies.

Seth Twum-Akwaboah further emphasized the need for intensified awareness creation if micro firms are to step up on their use of digital technologies while emphasizing.

The Ghana business tracker survey is conducted by the Ghana statistical service in collaboration with the World Bank, European Union (EU), and the United Nations Development Programme(UNDP) to measure the impact of the pandemic on private sector development.

The fourth wave of the survey was modified to provide realistic data on the financial situation of firms in Ghana, their use of digital technologies, adoption of green energy, and the impact of multinational firms on the local firms they have links with.

Source: Ghana/ Afful