President Akufo-Addo today, Wednesday, July 6, 2022, launched the $10 million grant to SMEs initiative in the hospitality sector.
The initiative forms part of the government’s efforts to support small and medium-scale enterprises (SMEs) to recover from the effects of the COVID-19 pandemic, and help create jobs for the youth.
The grants are in three categories namely, COVID Relief Support, SME Support, and Site Upgrade.
The President at the launch explained that these are intended to help transform the tourism sector to stimulate economic growth and create jobs. It is expected that some one thousand, five hundred (1,500) SMEs will benefit from the grant support.
The President also commissioned the first batch of forty-five (45) buses out of one hundred (100) VDL Intercity buses procured for use by the Metro Mass Transit Ltd.
“This event is significant particularly because it has provided us with an opportunity to boost further the capacity of our public transportation system,” he started.