Tag: Stimulus
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China to exempt some African countries from repaying specific loans – Prez. Xi Jingping hints
China’s President, Xi Jingping has announced that China will exempt some African countries from repaying zero-interest rate loans due at the end of 2020, according to Reuters News agency. Speaking at the China-Africa Summit, President Xi Jingping stated that, under the framework of the China-Africa cooperation forum, China will further extend loan payment forbearance for…
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Ghana can dream again – Coronavirus Alleviation Programme Business Support Scheme a win-win for all
The GHS 1 Billion Coronavirus Alleviation Programme (CAP) Business Support Scheme launched by His Excellency President Nana Addo Dankwa Akufo- Addo on Tuesday, 19th May, 2020 is a life saver not just for the beneficiaries but for the nation as a whole. This programme is unprecedented in Ghana’s history, as it accounts for about 0.15%…
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Businesses now applying for TIN to be taxed after accessing GHS1bn stimulus – GRA
The Ghana Revenue Authority, GRA, says all businesses seeking to acquire TIN numbers now will be made to pay taxes after benefiting from the government’s GH¢1 billion COVID-19 Alleviation Business Support Programme for Micro, Small and Medium-scale Enterprises. Many business owners that did not have TIN numbers before the COVID-19 Pandemic have besieged the GRA…
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Applications for GHS1bn loan will be scrutinized, it’s not automatic – NBSSI
The National Board for Small Scale Industries (NBSSI), has explained that it is not automatic for businesses to receive the amounts they apply for from government’s GHS 1billion stimulus package allocated to Micro, Small and Medium Scale Enterprises (SME) affected by the novel Coronavirus pandemic. The agency says every request will be subjected to strict…
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Applicants for GHS1bn stimulus package call for early disbursement
Some persons in the Ashanti Region who have applied for government’s GHS 1billion stimulus package to support SMEs affected by the coronavirus pandemic, are urging government to ensure early release of the funds to help them achieve the desired impact. The coronavirus pandemic has negatively impacted many businesses in the country, with over 14,000 business…
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Over 14,000 businesses apply for GHS1bn stimulus package for SMEs – NBSSI
The National Board for Small Scale Industries (NBSSI) says over fourteen thousand business owners have applied for government’s one billion stimulus package in less than a week. According to NBBSI, majority of the applicants are within the agribusiness and education sectors. This follows President Akufo-Addo’s launch of the GHC1 billion Coronavirus Alleviation Programme Business Support…
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COVID-19: COPEC calls for emergency support for oil and gas companies
Following the economic impact of the novel Coronavirus on individuals and businesses, the Chamber of Petroleum Consumers (COPEC) is urging government to consider providing emergency assistance to oil and gas companies. According to COPEC, a lot of these companies are, “are reeling heavily under the harsh effects of our 3 weeks lockdown and subsequent low…
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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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Disbursement of GHS600m stimulus package for SMEs to begin in May – Nana Addo
President Akufo-Addo has announced that the disbursement of the six hundred million cedis (GHS600 million) stimulus package for micro, small and medium-scale businesses is expected to start in May. He announced this during his 7th COVID-19 national address to Ghanaians on Sunday, 19th April 2020. It will be recalled that, in his nationwide address on…
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First National Bank cuts interest rate by 2% to alleviate impact of COVID-19
First National Bank Ghana Limited has announced a 2% interest rate cut on loans to all existing customers from 01 April 2020 for the length of time until a loan is due of all Ghana-cedi denominated loan facilities. According to the bank, the offer, which is part of the bank’s #RealHelp package is to cushion…