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    Ghana is the best destination for investment in West Africa – Bawumia

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    Modify old trade conventions to favor local printing firms – AGI tells govt

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    Ghana is the best destination for investment in West Africa – Bawumia

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    Ken Ofori-Atta, Ministry of Finance for Ghana, gives an interview during day 3 of the AfDB Annual Meetings on 13 June 2019 in Malabo, Equatorial Guinea. (Photo by Malick Silue)

    Ghana sends debt restructuring proposal to official creditors

    IMF mission staff arrive in Ghana today to assess implementation of economic recovery programme

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    Publish gold-for-oil policy document to improve transparency – Dr. Manteaw

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    Ghana is the best destination for investment in West Africa – Bawumia

    African leaders urged to push for electronic cars over combustible automobiles 

    Modify old trade conventions to favor local printing firms – AGI tells govt

    Publish gold-for-oil policy document to improve transparency – Dr. Manteaw

    Re-consider computation of VAT for local industries- AGI tells govt

    IMF proposes acquisition, mergers of banks to mitigate financial sector instability

    Ghana and Côte d’Ivoire partner to tackle cocoa smuggling

    Mobile money disrupted banking in Ghana – Zeepay CEO

    Ghana’s oil reserve recording steady growth – GNPC CEO

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    Ghana gets $300 million from US to build first-of-its-kind data center

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Disburse stimulus package quickly – Ghana Tourism Federation urges gov’t

byMinna Dablu
July 28, 2020
in Local Economy, Top Stories, Tourism
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The Ghana Tourism Federation, GHATOF, has asked government to fast-track the disbursement of the stimulus package set aside to support Small and Medium Scale Enterprises affected by the COVID-19 pandemic particularly in the hospitality sector.

Aside from the aviation sector, the tourism and hospitality industry globally, is the most affected by the COVID-19 pandemic, and Ghana is no exception.

The closure of borders, restrictions on public gatherings and the closure of tourist sites and drinking spots, which were only recently opened by government, meant that hotels, pubs, night clubs and cinemas can either not operate at all or operate at full capacity.

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This has caused job losses, and left owners of these facilities frustrated. To mitigate the impact of the pandemic on businesses generally, government announced a support scheme of 600 million for Small and Medium Enterprises.

Government has also launched a 9 million US dollar grant from the International Development Agency of the World Bank under the Ghana Tourism Development Project, solely for SMEs and registered individual enterprises in the tourism and hospitality industry.

According to the Executive Secretary of the Ghana Tourism Federation, Emmanuel Frimpong, although members of the Association which includes Night clubs, pubs, and hotels have applied for the GHS600 Million SME loan, they are yet to receive the money.

“Owners of Pubs, Cinemas and Night clubs don’t know when they will be given the opportunity to open their businesses. The drinks that they bought have expiry dates before they were closed down; they haven’t been used all this while, then it means they cannot do anything with them now.”

“As far as we are concerned, our members have not received the loans that government has promised, and we want to find out why because we are going through difficult times. Businesses are going down, people have lost their lives, all sorts of things are happening in the industry, and we need that support from government now more than ever,” he lamented.

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