Chief Executive Officer of the Ghana Enterprises Agency (GEA), Mrs Kosi Yankey-Ayeh, has revealed that, the next phase of disbursement for the COVID-19 stimulus package will include the tourism sector.
According to her, GEA has begun engagement with stakeholders on how the GHC145 million grant will be disbursed to SMEs to support their COVID-19 recovery.
Her comments follow the opening of applications for the program by the agency in collaboration with the ministry of tourism for operators within the sector.
The grant is specifically targeted at Small and Medium Enterprises that were affected by the impact of the pandemic.
“There are two segments: the tourism is also part of the funds that NBSSI is implementing. So, we will be implementing the tourism fund as well, under the ministry of tourism. We are under the ministry of trade… so if you realize, the application process is through the Ghana Enterprises Agency platform.
“So, under the tourism fund, we will be looking at businesses in the tourism sector who need access to funding support. As you are aware, the tourism sector has been highly impacted… and so at a time like that there’s funding that has been earmarked specifically for the tourism sector to support them and also build the business or sustain the business at a time as this”.
President Akufo-Addo during the launch of the Ghana Enterprises Agency in June revealed that the GEA SME Grant Fund has been established to support SMEs to recover from the effects of COVID-19.
He further explained that it will also help them to resuscitate their operations under the Ghana Economic Transformation Project.
President stressed that disbursement will be made to between 250 to 350 SMEs to help them grow into sustainable businesses. According to him, they will be capable of competing on the regional, continental and global stages.
In his speech, President Akufo-Addo indicated that he came into office, in 2017, with the vision of transforming the structure of our economy.
Disbursement of funds to hoteliers
President of Ghana Hotels Association, Dr Edward Ackah-Nyamike, had earlier bemoaned stimulus packages disbursed by the Ghana Enterprises Agency. He intimated that there are no published data on the number of hoteliers who have received the stimulus package.
Dr Nyamike insisted that the GEA during its initial disbursement of funds were not forthcoming with information. This, he explained, made it difficult for the Association to ascertain the number of members who received funding.
Furthermore, the GHA President noted that the Ghana Enterprises Agency is in the best position to disclose the exact number of hoteliers who have received the package.
Prior to this, Mrs Kosi Yankeh-Ayeh had expressed her commitment to impartially disburse stimulus funds to businesses.
Speaking in an interview, the GEA boss denied speculations by the Ghana Hoteliers Association over their members being denied access to the stimulus package for their struggling businesses.
Justifying her stance, she assured her outfit’s commitment to working assiduously to effectively disburse funds to businesses in need.
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