We’re optimistic cabinet will approve proposal for tourism  – GTA

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Director in Charge of Department of Quality and Assurance, Ghana Tourism Authority (GTA), Mr Alex Boakye, has said a proposal on how the tourism sector can be supported in the wake of the Coronavirus pandemic has been submitted to cabinet.

He said on the Travel Pass show on 3 92.7FM Sunday May 31 that the stakeholders in the tourism sector are optimistic that the proposal will be accepted and approved by government,

He explained that although the government has made available GHS1billion stimulus there is a need to adopt a special allocation for the tourism sector due to the role that sector play in the economy.

“We have presented [the proposal] to government,” he said adding that: “We are hopeful that the proposal for the tourism sector will be accepted.”

President Nana Addo Dankwa Akufo-Addo has launched a One billion Ghana Cedi stimulus package to provide relief to Micro, Small and Medium Enterprises (MSMEs), hard-hit by the novel coronavirus pandemic.

The COVID-19 Alleviation Programme (CAP) Business Support Scheme, to be administered by the National Board for Small Scale Industries (NBSSI) is to help lessen the effects of the economic crisis, like no other, caused by the pandemic.

It would provide additional capital for business expansion to meet the demand for respiratory illness-related goods and services.

At a ceremony at the Jubilee House, President Akufo-Addo said the flu-like virus had exacted a huge toll on world economies, including that of Ghana – reduced productivity, job losses and steep decline of revenue for government, businesses, households and individuals.

“We are determined to protect as many jobs as possible and to help as many businesses as possible get back on their feet.”

Out of the amount earmarked for the scheme, GH¢600 million would be disbursed as loans to MSMEs with a one-year moratorium and a two-year payment period with three per cent interest.

Additionally, selected banks that would participate in the programme would provide a negotiated counterpart funding to the tune of GH¢400 million to be disbursed under the scheme President Akufo-Addo said.

Source: Laudbusiness.com/Ghana

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