Business News of Tuesday, 19 May 2020
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Finance Minister, Ken Ofori-Atta has disclosed a taskforce has been formed to further work on recovery, stabilization, and revitalization of industrial and manufacturing sectors to ensure a fast pace revamp post-Coronavirus.
According to him, the taskforce will have a primary focus on specific large businesses to ensure a post-Coronavirus recovery of industry is well facilitated.
Speaking at the launch of the Coronavirus Alleviation Programme (CAP) Business Support Scheme (CAP BuSS), Ken Ofori Atta said; “We have therefore proposed this [CAP BuSS] programme and additionally a taskforce has also been formed to further work on a recovery, a stabilization and a revitalization programme which will concentrate on industry and manufacturing with a specific focus on large businesses to spare growth, minimize job losses and to ensure that the post COVID-19 recovery is at an even faster pace and the President has charged us to do this”
The Finance Minister adds government is positioning the newly set up Development Bank of Ghana to be a critical element of the post-recovery strategy for rapid industrialization and agricultural modernization.
“This will turn Ghana also into a regional trade and investment hub,” he indicated.
The CAP BuSS is an initiative intended to provide a stimulus package of GHS¢600 million in soft loans to scale up Medium Small-Scale Enterprises who may have been impacted by the Coronavirus pandemic.
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