STC loses GH¢50m to COVID-19
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Intercity STC Coaches Limited (STC) has lost over GH¢50 million in revenue since the COVID-19 pandemic struck in March last year and needs immediate financial bailout to survive.
The company lost about GH¢3 million during the partial lockdown of Accra and GH¢7.5 million as a result of the social distancing directive by the government that required vehicles to operate at half passenger capacity.
The Managing Director of STC, Nana Akomea, who disclosed this to the Daily Graphic, said the company had also been losing about GH¢2.6 million monthly over the last 17 months because of the closure of land borders with neighbouring countries such as Cote d’Ivoire, Benin, Burkina Faso and Togo where STC operated to.
-Graphic
ABOUT: Nana Kwesi Coomson
[email protected] An Entrepreneur, Corporate Social Responsibility, Corporate Communications Executive and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. His first degree is in Bachelor of Arts - Political Science (major) and History (minor) from the University of Ghana. He holds MSc in Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) from the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow who studied at Clark Atlanta University in USA on the Business and Entrepreneurship track.
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