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    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

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    Akufo-Addo worried over impact of fertiliser shortage on poultry industry

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    Agribusiness Chamber demands resignation of Agric Minister over sector woes

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    Manufacture of petroleum products push PPI to 31.2% in April

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

    Victor Yaw Asante, FBNBank Ghana MD

    Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

    Banking Consultant bemoans continuous charging of unfair fees by banks

    Chamber of IPPs disappointed over ECG’s tariff increase request

    A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR

    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

    NPA allays fears of fuel scarcity in the country

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    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

    AfCFTA members conclude negotiations on rules of origin to enhance free trade

    Implement strategies to sustain increased consumer preference for digital payments – Bawumia

    Strict enforcement of AfCFTA regulatory framework will ensure smooth implementation of PAPSS – Bawumia 

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EXIM Bank will provide soft loans for SMEs- CEO

bycitibusinessnews
November 19, 2016
in Banking And Finance, Government, Local Economy, Top Stories
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As Ghana prepares to launch the Ghana EXIM Bank next week, the Chief Executive Officer of the bank, Dr. Barfuor Osei has refuted claims that the bank will compete with commercial banks in providing funds for Small and Medium Enterprises(SMEs).

According to him, the EXIM Bank will rather provide soft loans for commercial banks in the country for on lending to SMEs.

Speaking to Citi Business News, Dr. Barfuor was optimistic the bank will significantly boost the SME sector since it will provide credits at relatively low interest rate.

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“One of the major problems of the SME is long term fund financing, if you go to the commercial banks, they will give you a short term but most of these businesses need financing on a longer term, so all the financing that the EXIM Bank will be giving out will be going to be long term, and we are not going to compete with the commercial banks, we are going to fill those gaps that the commercial banks have left hanging,” he said.

“Businesses need support in so many different ways that the commercial banks don’t offer, so the EXIM will be providing all these support. You see people go to the commercial banks and say the interest rates are so high. The reason is that some of them don’t have what it takes to be able to get some. The EXIM bank will guarantee for the commercial banks so that they will b able to provide more resources for the SME,” he assured.

20 young entrepreneurs given loans

About  20 young graduate entrepreneurs seeking funds to expand their businesses were received a total of GHC2 million.

The programme which was the maiden edition was organized in partnership with the University of Cape Coast (UCC), under the Graduate Enterprise Development Initiative awarded which saw the entrepreneurs receive GHC100,000 each.

This was after several weeks of coaching and mentorship. Twenty  finalists were chosen from a vigorous screening process of 37 applicants.

The finalists were taken through a three-day training program to enhance their skills and develop their business concepts.

They submitted a refined business plan and upon further coaching, mentoring and pitching the 20 finalists were chosen for the awards ceremony.

The beneficiaries

Those awarded are Juga Farms, Vegerfresh Farms Limited, Titann Ventures,  Yarda Trust Company Limited, Sule Yahaya Enterprise, Modern Grasscutter Company Limited, Nawubil Limited, Nouveau Foods Ghana Limited, and E90 Ghana.

Also included are PK Farms, Premor Limited, Sparkxx Foods and Beverages Limited, Sustanable Agro Limited, Isshad Plus Enterprise, Boasah Agricultural Center, Odera Ventures and Unique Quality Product Enterprise and DelChris Ventures.

–

By: Lawrence Segbefia/citibusinessnews.com/Ghana

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