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    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

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    CBOD calls for a more structured supply of Forex for petroleum products

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    Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey

    Inflation in Africa: Some subsidy programs prolonging situation – Jeff Gable

    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

    BoG, CSA deepen collaboration to fight cyber threats

    Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs

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

    Intravenous Infusions PLC records 10% growth in profit in 2021

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

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    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

    Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs

    CBOD calls for a more structured supply of Forex for petroleum products

    Bank of Namibia Governor pays courtesy call on BoG Governor

    DBG funds will not be used to buy gov’t securities – Deputy CEO assures

    Producer Price Inflation rises again to hit 33.5% in May 2022

    #CitiBusinessFestival: Garment industry needs financial support to thrive – Cyndex CEO

    Ghana tops list of countries with cheapest cost of electricity in West Africa

  • TECHNOLOGY

    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

    Citi Business Festival: Acquiring digital skills key to securing employment – Maximus Ametorgoh

    Bank of Ghana commences piloting of digital currency in Sefwi Asafo

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    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

    Take control of financing on the continent – Ofori-Atta to AfDB

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COVID-19: Monetary support alone not enough for businesses – PEF CEO

May 26, 2020
in Business, Local Economy
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The Chief Executive Officer of the Private Enterprise Federation (PEF), Nana Osei-Bonsu, says the interventions introruced by government for small and medium scale businesses affected by COVID-19 will not be enough.

In a bid to cushion Ghana’s economy due to the impact of coronavirus, the government has among other things launched a GHs1 billion Coronavirus Alleviation Programme Business Support Scheme.

This is being provided by the government and selected participating banks to micro, small and medium-scale businesses in the country.

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Speaking to Citi Business News, Mr. Bonsu said a lot more ought to be done to guarantee the impact of these nterventions such as a focus on the supply of  energy.

“The whole thing is not just that the money is not enough. Yes, it is something towards the recovery of businesses but can we do it in a way that we get the impact? The keyword is stimulus, to stimulate what? To stimulate business and resurrect businesses.”

“We are talking about resurrecting businesses. What are the challenges of business; one: electricity. Two: the absence of value addition and the value chain approach to business,” he noted.

The government has indicated that the cumulative effect of the pandemic will cost Ghana GHS9.505 billion.

Applicants for the lSME loan will have a one-year grace period before beginning repayment on an interest rate of 3 percent.

Source: citibusinessnews.com
Tags: Coronavirus Alleviation ProgrammeCOVID-19Private Enterprises Federation
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