Tag: Stimulus package
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Over 170,000 businesses apply for GHS1bn stimulus package for SMEs – NBSSI
More than one hundred and ten thousand businesses have successfully completed their application for the government’s GHS1billion Coronavirus Alleviation Programme Business Support Scheme. This is a huge jump from the 14,000 businesses that registered in the first week. A statement from the National Board for Small Scale Industries, NBSSI, said this represents 65% of the…
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Tourism and Hospitality sector to benefit from $9m facility – Tourism Minister
As part of measures to mitigate the economic impact of the novel coronavirus pandemic on the tourism and hospitality sector, government has announced a nine-million-dollar facility to boost the industry. The facility comes from the World Bank under the Tourism Development Project. It will be disbursed in two parts – four million dollars to support…
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We’ll use financial institutions to disburse GHS600m SME loan – NBSSI
The Executive Director of the National Board for Small Scale Industries, NBSSI, Kosi Yankey, has explained that financial institutions will be used to disburse the 600 million cedis stimulus package allocated to support small and medium scale enterprises. Following the negative impact of COVID-19 on businesses and individuals, the amount has been set aside by…
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NBSSI can’t disburse and recover GHS600m SMEs loan efficiently – Dalex CEO
The Chief Executive Officer of Dalex Finance, Ken Thompson, wants government to reconsider its decision to allow the National Board for Small Scale Industries, NBSSI, to disburse the 600 million cedis stimulus package for SMEs. According to him, financial institutions are in a better position to disburse the money efficiently and ensure full recovery. It…
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70% of car rental workers asked to go home temporarily – Association
More businesses are counting their losses from the economic impact of the COVID-19 pandemic on their operations. The latest is the Car Rentals Association, which has already asked about 70% of its staff to go home temporarily as they contemplate business continuity plans. In some cases, workers have lost their jobs; while others have taken…
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GUTA demands modalities for disbursement of GHS600m loan to SMEs
The Ghana Union of Traders’ Association (GUTA), has asked government to come out with its modalities for the disbursement of the GHS 600 million loan support scheme for small and medium scale enterprises, (SMEs). The Association says the nature of the operations of its members, their huge numbers and capital needs, require that they have…
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Stimulus package won’t protect all jobs – Ghana Employers’ Assoc.
The Ghana Employers’ Association says even if government offers support to businesses; that will not guarantee jobs for all workers as layoffs could still happen based on individual company’s level of impact from the COVID-19 pandemic. The Employers’ Association wants government to support its members to pay salaries, improve their working capital and defer VAT…
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We can help Gov’t disburse GHS600m SMEs loan – Savings & Loans Assoc.
Leadership of the Ghana Association of Savings and Loans Companies, says it is ready to support government in the disbursement of its GHS600 million stimulus package set aside to assist small and medium scale enterprises affected by the COVID-19 pandemic. The disbursement of the amount, which will have a one-year moratorium and two-year repayment period,…
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COVID-19: TUC, Employers Association call for stimulus support for big businesses
The Trades Union Congress (TUC) and the Ghana Employers Association, have called on government to extend its stimulus support to cover big businesses amid the COVID-19 pandemic. Currently, the government has set aside a GHS600 million soft loan scheme with a two-year repayment plan for small and medium scale businesses. But speaking at a COVID-19…
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Economist cautions Gov’t against wrongful use of COVID-19 stimulus package
The Head of the Economics Department at the University of Ghana, Prof. William Baah-Boateng, is urging government to restrain itself in the disbursement of its extensive financial packages to individuals and businesses as the country continues to face the economic impact of the novel Coronavirus pandemic. According to him, although there is the need to…