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Business News of Wednesday, 24 June 2020

Source: rainbowradioonline.com

Tourism Ministry launches US$9 million grant for SMEs

Small and Medium-Sized Enterprises in the tourism sector are set to benefit from a US$9 million dollar Grant Scheme, the Tourism Minister Barbara Oteng-Gyasi, has announced.

According to her, the scheme has been launched to strengthen the industry which has been severely hit by the COVID-19 pandemic.

She said the scheme is under the Ghana Tourism Development Project, a world bank funded project.

“There is the GHS 1 billion stimulus package launched by the President to support Micro, Small and Medium Scale Enterprises (SME) affected by the novel Coronavirus pandemic. There is also a GH¢3 billion Cedis facility for larger businesses. All these are available to our industry. So if you are a player in our industry you can apply to access these funds.”

One thousand Small and Medium Sized Enterprises are expected to benefit from the US$9 million dollar Grant Scheme.

The beneficiaries to be supported under the scheme comprise mainly Ghanaian indigenous businesses in the tourism value chain, including micro businesses that employ between 1 to 5 persons, small businesses that employ between 6 to 30 people, and medium businesses that employ 31 to 100 people.

Interested enterprises are to visit www.motac.gov.gh or www.visitghana.com to begin their application process for the grant.

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