Tag: SMEs
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Businesses at Alabar in Kumasi lament impact of COVID-19
Traders at one of Ashanti Region’s popular Retail Markets, Alabar, say the continuous closure of borders is taking a toll on businesses in the enclave. Motor bikes, tricycles and spare parts are largely traded at the market with many traders relying heavily on import and foreigners to boost sales. Some of the traders told Citi…
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COVID-19: Border closure takes a toll on SMEs in export in Northern Region
The continuous closure of Ghana’s borders as part of measures to curtail the spread of COVID-19; is taking its toll on small scale enterprises in the Northern Region. Small and Medium Scale Entrepreneurs (SMEs) that largely engage in export are bearing the brunt, as they are unable to export their products to neighbouring countries and…
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Tourism and hospitality sector to benefit from GHS600m stimulus package – Minister assures
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…
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COVID-19: Akufo-Addo announces GHS600m soft loan scheme for SMEs
Government is set to roll out a soft loan scheme of up to six hundred million Ghana cedis for small to medium scale enterprises following the economic impact of the novel coronavirus, President Nana Akufo-Addo has announced. Addressing Ghanaians in a nationwide broadcast on Sunday [April 5, 2020] on further measures to mitigate the spread…
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Bank of Ghana to establish Enterprise Credit Scheme to support SMEs
As part of efforts to make access to credit much easier for Small and Medium Enterprises, SMEs, particularly in the agricultural value chain, the Bank of Ghana has announced the establishment of an Enterprise Credit Scheme to support SMEs to secure funding from local banks. Access to credit remains one of the major bottlenecks for…
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NBSSI urges financial firms to empower SMEs before offerring credit
The Chief Executive Officer of the National Board for Small Scale Industries (NBSSI), Kosi Yankey Ayeh, has urged financial institutions that offer loans to Small and Medium Scale Enterprises, SMEs, to consider empowering them through skills development before offering them credit. She says this will provide a better guarantee for the capacity of the businesses…
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Solving funding needs of SMEs will curb unemployment in Ghana – Prof. Aryeetey
Former Vice Chancellor of the University of Ghana, Professor Ernest Aryeetey has advocated innovative measures in meeting the funding needs of Small and Medium Enterprises (SMEs) in the country. Professor Aryeetey argues that the country could significantly reduce the alarming unemployment rate should SMEs grow and create more jobs for the teeming unemployed youth. He…
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Business strategist proposes mergers for SMEs
The Chief Executive Officer of Breakthrough Consult, Caleb Ayiku has advised Small and Medium scale Enterprises (SME’s), to merge with already established businesses to promote their businesses and expand their capital. According to him, most SME operators tend to rely solely on their profits which is not enough to push their businesses, forcing the sudden…