News
COVID-19 Businesses Support Fund should spur MSMEs on to thrive
President Nana Addo Dankwa Akufo-Addo on Tuesday launched a GH¢1 billion COVID-19 Alleviation Business Support Programme to support Micro, Small and Medium Enterprises (MSMEs) affected by the coronavirus (COVID-19) pandemic.
The amount is expected to support businesses in areas such as agriculture and agribusiness, manufacturing, tourism and hospitality, education, food and beverages, technology, transportation, commerce, healthcare and pharmaceuticals, and textile and garments.
Additionally, MSMEs which need expansion to meet the growing demand for COVID-19 related goods and services can also apply.
According to President Akufo-Addo, the business support programme, which is expected to reach 180 beneficiaries across the country will help minimise job losses in the wake of the outbreak of the COVID-19 pandemic.
Out of GH¢1.2 billion earmarked for the programme, he said GH¢600 million will be disbursed as soft loans to MSMEs with one year moratorium and two years repayment. The rate of interest on the loans is three per cent.
Aside the GH¢1billion facility for MSMEs, the President indicated that the government will make available a GH¢3 billion credit and stimulus package to help boost businesses.
The Ghanaian Times applauds government for this initiative aimed at helping all businesses that have been heavily hit by COVID-19 in the country.
The harm that has been caused by the outbreak on Ghanaian businesses cannot be overemphasized.
The package, we believe, offers a huge sigh of relief to businesses which have seen their productivity levels and revenue reduced drastically and are struggling to hold on to their employees.
It is true that globally, the pandemic has rendered economies flat and affected the income of government, businesses and households.
In Ghana, MSMEs, which accounted for 70 per cent of the country’s Gross Domestic Product (GDP) and represented 92 per cent of businesses, have not been exempted.
This is why it is imperative that we support all efforts to ensure the success of the COVID-19 Alleviation Programme (CAP) Business Support Scheme to protect jobs and bring back the country’s economy to life when the dust settles.
We urge all businesses to take advantage of the government’s support programme and use the funds for the intended purposes to resuscitate their businesses and further enhance Ghana’s economic growth.
We are also mindful that not all businesses can be supported owing to limited funds and so we urge all beneficiaries to pay back on time to enable government extend similar support to others.
Even as we commend government for this laudable initiative, we will urge the country mobilise more funds to support other sectors including the media which are not expected to benefit from the support scheme in these difficult times.
News
Craze for x’mas shopping: Crowded markets, low patronage
Vendors of food and other wares associated with the Christmas celebration have expressed surprise at the low patronage despite the increased number of visitors to some of the major markets across the capital.
Four days to the celebration(Christmas), the markets are filled with various products ranging from food, clothing, livestock and many other stuff, but according to the vendors, patrons are doing more ‘window’ shopping.
The Spectator on visits to some of the markets in the capital, notably the Odawna, Makola, Accra Central Business District, New Town and others made similar observations as shoppers crowd them but did little in terms of purchases.
The paper also observed that majority of vendors, originally selling other wares have switched to product related to the festive season.
What it means is that there are a lot more clothes, food and vegetables, livestock and poultry, toys, firecrackers, drinks of different types and many others on display.
The markets have also stretched to the pedestrian pavement, leaving very narrow spaces for commuters to move about freely.
That, in addition to a few of the female vendors dressed in coloured attires to reflect the occasion, has heightened the euphoria, leaving the low sales as the only headache for the vendors.
Speaking with this paper, they sounded very optimistic, believing that sales would improve in the last few days to the yuletide.
According to them, there was the opportunity to sell beyond Christmas as the New Year celebration offers similar opportunity to trade the same wares.
They urged patrons to throng the markets to shop since prices were quite moderate and products affordable for all.
News
Retirement service for Elder John Ackom-Asante,3 others
Retired Deputy Editor of The Spectator, Elder John Ackom-Asante, was last Sunday honoured by the Church of Pentecost Windy Hills District in Kasoa in the Central Region, with a retirement thanksgiving service, after serving for 26 year as an Elder of the church.
He was honoured with a citation and certificate of service along with three other elders who served in the capacity for various years.
Elder Ackom-Asante was baptised at the Darkuman Central Assembly in 1979 and ordained as an Elder in 1997.
The citation read “Your selfless service, zeal, willingness to relate wholeheartedly and your desire to effect change has gone a long way to shape the lives of many people in the church and the nation over the 26 years of your dedication to the service of the Lord.”
Elder Ackom- Asante held many positions at the Darkuman Central Assembly, Obuasi in the Ashanti Region and Tema, serving in various capacities as youth and evangelism ministry leader and marriage counsellor.
He was the founding member of the Darkuman Christian Fellowship, a member of the Greater Accra Christian Fellowship; member of Bible Society of Ghana; founding member Obuasi Chapter Full Gospel Businessmen Fellowship International and founding member of New Times Corporation Christian Fellowship and Chaplain, Methodist University Tema Campus 2009- 2010.
As a professional journalist, Elder Ackom-Asante combined effectively and efficiently his duty as a member and elder of the church and the demands of his profession, with admiration from the church, kith and kin, till his retirement on December
From Alhaji Salifu Abdul-Rahaman, Kasoa
