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

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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

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    World Trade Centre Accra Accra announces partnership with Altkom Akademia to offer professional education in Africa

    Ghana has the 4th cheapest average cost of internet in Africa – Statista

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

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

    E-Levy is an overhyped revenue generation measure – Seth Terkper

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    African Finance Ministers tasked to allocate more resources into education sector

    Unilever Ghana PLC remains upbeat about future growth prospects

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

    E-Levy is an overhyped revenue generation measure – Seth Terkper

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

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

  • 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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    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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Utilize $9m grant for SMEs in tourism efficiently to attract more support – Osafo Marfo

byNerteley Nettey
June 25, 2020
in Local Economy, Top Stories
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Senior Minister, Yaw Osafo Marfo, has asked stakeholders tasked with the management and disbursement of the newly launched World Bank sponsored $9 million dollar Grant Scheme for Small and medium scale enterprises in the tourism sector, to be prudent as that will attract more support for the sector.

The tourism sector, which made gains in 2019 following a successful implementation of the Year of Return program, has been severely hit by the COVID-19 pandemic.

According to the Senior Minister, if businesses within the sector take advantage of some of the opportunities available despite COVID-19, the sector could recover much more quickly.

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“We got the initial capital of nine million. If you apply it properly and the promotion goes on as expected with the change we all expect in the tourism sector, definitely, this will be the beginning as there will be a lot more money invested. Indeed, normally when the World Bank finances a project, it is an initial sum and you will expect other donors to buy into it to make it bigger. So, I will urge the operators to make it a success and it will attract more money,” he said.

Ghana’s tourism is one of the hardest hit by the COVID-19 outbreak. The sector is projected to create about a million jobs, while contributing about 6.2 percent to Ghana’s GDP.

Most of the income realized from the sector mainly comes from foreigners who visit the country.

However, the sector is experiencing a rapid and sharp drop in demand and a surge in job losses.

Analysts have projected that revenue from the sector will continue to dip a little longer due to the closure of borders.

The Scheme, earmarked for interventions to strengthen the industry severely hit by the COVID-19 pandemic, is under the Ghana Tourism Development Project, a world bank funded project.

The beneficiaries to be supported under the scheme comprise mainly Ghanaian indigenous businesses in the tourism value chain, including micro businesses that employ between 1 to 5 persons, small businesses that employ between 6 to 30 people, and medium businesses that employ 31 to 100 people.

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

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

E-Levy is an overhyped revenue generation measure – Seth Terkper

Leverage crises to improve fortunes of continent – Ofosu-Dorte

African Finance Ministers tasked to allocate more resources into education sector

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