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Business News of Thursday, 2 December 2021


Ghana Enterprises Agency approves GH¢8 million grant for private sector businesses

Chief Executive Officer of GEA, Kosi Yankey-Ayeh Chief Executive Officer of GEA, Kosi Yankey-Ayeh

Use funds to build your businesses

Grants to provide a vibrant and active private sector economy

Be disciplined, Kosi to beneficiaries

An amount of GH¢8 million has been approved in grants by the Ghana Enterprises Agency (GEA) for private sector businesses.

This is to serve as a shock absorber for them to recover from the impact of the global pandemic, coronavirus.

Chief Executive Officer of GEA, Kosi Yankey-Ayeh, during the contract signing ceremony for the over 100 beneficiaries of the grant in Accra, noted that her outfit would do frequent follow-ups to ensure that these traders do not misuse the monies.

She, however, implored the beneficiaries to be disciplined and use the monies for the right purpose for their businesses to bounce back to ‘normal’.

Kosi Yankey-Ayeh said, “We have their details, we have already done the follow up to see what they are. We have an M&E team at the Ghana Economic Transformation project unit; then we also have an M&E unit within the Ghana Enterprises Agency and through the Ministry of Trade and Industry, who would go round to monitor... to ensure that the impact is real and the impact assessment is done right.”

“I think that our message to them is that they should utilize the funds for what is needed. Many times, some private-sector beneficiaries do not use the funds for what [they stated] because of a lack of discipline. But as much as possible, we say to them, be very disciplined. Use the funds for what you’re supposed to use for and use it to build your business,” she added.

The GEA CEO noted that the grant is to provide a vibrant and active private sector economy in the country.

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