Minister for Tourism, Creative Arts and Culture, Barbara Oteng Gyasi has said the National Board for Small Scale Industries (NBSSI) will from May begin the disbursement of some GH¢600 million to micro, small and medium enterprises in the hospitality industry.
The Minister who revealed this on Thursday evening said initial engagements between NBSSI and industry players have been fruitful.
Speaking on the business edition of Joy News’ PM Express, the Minister explained that the relief package will be advanced as a flexible loan to industry players who are members of identifiable trade associations.
“It is for companies which have employees from one to a maximum of 100. That is the target of this fund so it is going to be given out as loans depending on the applications submitted by the companies. It will have a moratorium period of one year to be repaid over a two-year period,” she said.
“We have had an engagement with the World Bank. There is a grant component within that which we are also looking at disbursing to support the operators within this sector
“Then the government has also requested that we submit to it an impact study on our sector. Government is going to look at this impact study, along with the recommendations which industry has made to us and regarding how they want the government to support them,” she said.
Barbara Oteng Gyasi said relief packages to big firms within the industry may come in the form a waiver in levies and charges or even taxes.
“So we have compiled this and we are going to submit it to government,” she assured.