Audio By Carbonatix
The Chief Executive Officer of the Ghana Enterprises Agency, Mrs. Kosi Yankey-Ayeh, has disclosed that the agency has disbursed over GH¢500million to Small and Medium Scale Enterprises in the wake of the Covid-19 pandemic.
According to her, the monies were meant to support the growth of the businesses, adding that the SMEs were given a one-year moratorium for repayment.
“We disbursed over GH¢500 million. I don’t have the exact figures here but I think GH¢520 million plus went out as funding to Ghanaian SMEs,” she said in an interview on JoyNews’ Business Edition of PM Express on Thursday.
The topic for discussion was "SME support amid economic challenges."
She noted that although the moratorium kicked off recently, the beneficiary SMEs have “started paying in various capacities.”
Mrs. Yankey-Ayeh further explained that GH¢200 million of the amount was given as grants to SMEs.
According to her, the grant through Mobile Money (Adom initiative) “is not something that we will be going out to collect.”
“That grant component of the funding went through the mobile money system, because we knew that that was the best and most efficient way to get to the beneficiaries, and those who got the funds through Adom are those who got up to GH¢2000,” she added.
Recently, the Development Bank Ghana (DBG) also offered to give long-term financing to Small and Medium Scale Enterprises (SMEs) operating in the country, with guaranteed operational independence, a clear vision, and a strong balance sheet totaling 750 million dollars.
Meanwhile, Small and Medium Scale Enterprises in the Ashanti Region have been urged to adopt GrEEn concepts in growing their businesses.
With depleting and limited natural resources, businesses harnessing renewable and eco-friendly resources would facilitate their restoration.
As part of efforts to nurture and grow SMEs and corporate businesses in Ghana, the CalBank PLC and Focus 1 media have been meeting with some corporate businesses in the Ashanti region.
The stakeholder meeting was to educate and promote the adoption of an eco-conscious business environment using energy efficient and renewable resources.
Latest Stories
-
Nana B denies claims that Kojo Bamba was his driver and bodyguard
16 minutes -
Engage Now Africa to construct a 10-unit classroom block for struggling Navrongo Vocational Training Centre
23 minutes -
One digital financial breach could expose linked accounts to fraud – Financial Crimes Manager
28 minutes -
Ghana Russia Centre signs ICT cooperation agreement with Moscow University
32 minutes -
The powerhouses of the village: Honouring Ghana’s rural women on International Rural Women’s Day
32 minutes -
Vincent Assafuah petitions CHRAJ to investigate alleged irregularities in 2026 World Cup visa arrangements
33 minutes -
12-year-old boy found dead in muddy pit at Opeikuma
35 minutes -
GHS begins Yellow Fever vaccination campaign in three Upper West districts
36 minutes -
Organised Labour pushes for higher 2027 base pay despite slowing inflation
38 minutes -
Parliament’s Human Rights Committee demands swift justice in Obuasi SHTS sexual abuse case
48 minutes -
From Campaign Propaganda to Gov’t Accountability: When the message-makers demand a seat at the table
1 hour -
Ashanti Region Security Coordinator warns sand winners to stay off Accra–Kumasi Expressway site
1 hour -
PZ Cussons Ghana promotes hand washing among schoolchildren through Camel campaign
2 hours -
30 NDC aspirants file nominations in Upper West as regional election approaches
2 hours -
UPSA launches laptop assembly plant, requiring new students to assemble their own devices
2 hours