Fortune News | Sep 21,2019
The modestly-sized, discreet branch of Tomoca in Piassa kept its doors open to customers looking for a quick sip of coffee for almost seven decades. But following the Novel Coronavirus (COVID-19) pandemic and the measures being taken to contain its spread, one of Addis Abeba’s most famous roasters has had to temporarily suspend service.
Over the past week, its doors were left shuddered, its employees put on paid leave and its owners left without income.
It is not just Tomoca. Any business that relies on people gathering in a confined space is facing a downturn in business activity. Some of these businesses, such as bars and nightclubs in Addis Abeba, were ordered to close following the first confirmed case of the Coronavirus in Ethiopia.
Many others have chosen to close their doors temporarily because they do not want to risk exposing their employees to the virus. In other cases, businesses have decided to close, for they do not see any purpose in remaining open when people are barely venturing out of their homes and the streets are all but deserted.
For the time being, this has not translated into mass layoffs, but most employees are being forced to take their annual leave. Meanwhile, employers are pleading with the government to bail them out.
In response, the city council is working on a tax relief package for businesses hit hard by the partial economic lockdown. However, experts are not sold on the idea that this would be of any value, since businesses are not earning any profit for the government to tax anyways. They argue that soft loans will be more beneficial.
Without extensive and early support, businesses warn that they will not be able to weather the storm if it lasts for several more weeks or months and that employees will pay the steepest price.
"We simply couldn't keep our employees without work," said Bethlehem Tilahun, owner of the roaster Garden of Coffee. "We had invested a lot in our employees, but in the end, it is a matter of survival."
You can read the full story here
PUBLISHED ON
Apr 04,2020 [ VOL
21 , NO
1040]
Fortune News | Sep 21,2019
Viewpoints | Nov 02,2019
Commentaries | Apr 24,2021
Commentaries | May 14,2022
Commentaries | Jul 25,2020
Radar | Dec 05,2020
Fortune News | Apr 02,2022
Sponsored Contents | Mar 28,2022
Featured | Jun 15,2019
Fortune News | Dec 29,2018
November 27 , 2021
Against my will, I have witnessed the most terrible defeat of reason and the most sa...
November 13 , 2021
Plans and reality do not always gel. They rarely do in a fast-moving world. Every act...
October 16 , 2021 . By HAWI DADHI
Residing in a country with no capital market, an organised marketplace for trading se...
August 28 , 2021 . By HAWI DADHI
The streets of Addis Abeba are as varied as they are many, although too many of them have yet to be named. From the narrow alleyways of the...
May 14 , 2022
Diana Yohannes is one of those actively engaging in social media platforms with her T...
May 7 , 2022
The Ethiopian Economic Association (EEA) recently proposed the formation of a macroec...
April 30 , 2022
There is no ambiguity in the UNDP's assessment of Ethiopia’s economic performance a...
April 22 , 2022
Most African countries top the list when ranked on the prevalence of conflict, food i...
Loading your updates...
Put your comments here