The Ghana Hotel Association says it has not received the promised stimulus package from government in the wake of COVID-19.
According to President of the Association, Edward Ackah Nyameke, hotels in the country are struggling and will not be in the position to handle the influx of numbers following the reopening of the Kotoko International Aiport.
“As we speak, I can tell you on authority that none of our upmarket hotels has received any loans. We haven’t received any support and most of our staff are on temporary layoff. We do need the stimulus package even though Kotoka International Airport has been opened but 6 months into the pandemic, we haven’t received any support and we’ve survived so we’ll find ways to survive,” he told Francis Abban on the Morning Starr Wednesday.
President Akufo-Addo, on Tuesday, May 19, 2020, launched the GH₵1 billion Coronavirus Alleviation Programme (CAP) Business Support Scheme, which is being provided by the government and selected participating banks to micro, small and medium-scale businesses around the country.
At the launch of the programme, he acknowledged that the Coronavirus (COVID-19) had ravaged a lot of economies around the world, and affected businesses including MSMEs which had led to job losses and decline in government revenues.
Out of the GH₵1.2 billion earmarked for the programme, GH₵600 million of it was to be disbursed as soft loans to MSMEs, with up to a one-year moratorium and a two-year repayment period.
More than 200,000 Micro, small and medium Enterprises are expected to benefit from the Scheme.