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    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

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    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

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    We’re not charging E-levy on merchant accounts – GRA

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    AfCFTA Secretariat calls for accelerated dev’t for key infrastructure in Africa to boost trade

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

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    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

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    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

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    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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Tourism and hospitality sector to benefit from GHS600m stimulus package – Minister assures

byNerteley Nettey
April 27, 2020
in Local Economy, Top Stories
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The Ministry of Tourism, Arts and Culture, has assured that players in the tourism and hospitality sector will benefit from the 600 million cedis stimulus package set aside by government to support Small and Medium Enterprises.

Some hotels, particularly in the Greater Accra Region, closed down their facilities and laid off  casual staff during the partial lock-down, due to the economic impact of the coronavirus pandemic on their businesses.

Although the three-week partial lockdown has been lifted, the ban on public gathering, as well as the closure of the country’s borders which are still in force, mean that travelers are not coming into the country to lodge into these hotels; and also conferences cannot take place, thereby reducing revenue.

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Already, an assessment of the economic impact of COVID-19 on the sector has been carried out and the report handed over to the Ministry for appropriate action.

Speaking to some stakeholders in the industry, the Minister for Tourism, Arts and Culture, Barbara Oteng-Gyasi, said a meeting has been arranged with the National Board for Small Scale Industries to outline the modalities on how one can apply for the funds.

“The government is working very hard to support the sector because they recognize the importance of the tourism sector to the economy. And the initial support which has come in from government being the 600 million Ghana cedis support has been dedicated to the small and medium enterprises sector because they recognize that you are really suffering and you need that support to thrive,” she said.

“So we are going to engage the National Board for Small Scale Enterprise which will be at the forefront of the disbursement of this facility. We are going to have them to take you through the processes that you need to go through in order to access that facility so that in the interim even as we are waiting for the major interventions for the sector from the government after COVID-19, you will have some support during this very difficult period,” she added.

Akufo-Addo announces GHS600m soft loan scheme for SMEs

With the impact of the coronavirus since it’s outbreak in December, 2019, in Wuhan China, having a serious impact on the global economy, government announced the soft loan scheme of up to six hundred million Ghana cedis for small to medium scale enterprises.

Addressing Ghanaians in a nationwide broadcast on Sunday [April 5, 2020] on further measures to mitigate the spread of the virus in the country, President Akufo-Addo said the scheme will sustain the country’s affected industries and address the distraction in economic activities caused by the pandemic.

The Scheme will have a one-year moratorium and two-year repayment period for SMEs.

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