Journal of Economics and Business

ISSN 2615-3726 (Online)

ISSN 2621-5667 (Print)

Published: 13 January 2021

The Socio-Economic Ramifications of the Covid-19 Pandemic: The Case of Ghana

Richmond Sam Quarm, Rosemond Sam-Quarm, Richmond Sam-Quarm

University of Education (Ghana), Ghana Audit Service (Ghana), mPharma Ghana Ltd (Ghana)

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10.31014/aior.1992.04.01.319

Pages: 12-32

Keywords: Covid-19 Pandemic, Coronavirus, Wuhan City, Hydroxychloroquine, Pfizer, BioNTech, MHRA, FDA, Theory of Epidemics, Agency Theory, Rational Choice Theory, Stakeholder Theory.

Abstract

The novel, dreaded, disruptive, and disastrous Covid-19 pandemic took the world by storm in January, 2020. The Covid-19 pandemic in Ghana is part of the worldwide coronavirus disease caused by “severe acute respiratory syndrome (SARS-CoV-2)”. On 12th January, 2020 the World Health Organisation (WHO) confirmed that the novel coronavirus was the cause of a respiratory illness that affected a cluster of people in Wuhan City, Hubei Province, China. This was reported to the WHO on 31st December, 2019. On 11th March, 2020, WHO declared the novel Covid-19 a global pandemic (Graphic Online, 2020a). It is worthy to note how the Government of Ghana, political parties, citizens, scientists and academia, corporate entities, faith based organisations, traditional rulers, have offered varied forms of interventions to combat the scourge. The Theoretical Framework of this research was underpinned by the Theory of Epidemics, the Agency Theory, the Rational Choice Theory, and the Stakeholder Theory. We conducted a cross-sectional research through non-probability and purposive sampling with 250 respondents. We also employed face-to-face interviews, structured closed-ended and open-ended Questionnaires (Braun and Clarke, 2012; Denzin, 2017), which were administered online through email application via Google Forms. One of our major findings was that with the approval of Pfizer/BioNTech Covid-19 vaccine by the UK’s MHRA on 1st December, 2020 (Graphic Online, 2020b); and subsequently by the US FDA a week later on 8th December, 2020 (Graphic Online, 2020c), all governments around the globe in general, but Africa in particular, must make conscious efforts backed by adequate budgetary allocations to secure maximum quantities of the vaccines for their vulnerable teeming population.

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