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Ghanaian Business associations have confirmed receipt of the government of Ghana stimulus package meant to cushion small and medium scale enterprises (SMEs) from the impact of the coronavirus disease (COVID-19).
They committed to ensure that the beneficiary members used the funds to invest in their operations in line with government’s agenda of supporting businesses affected by the pandemic.
The associations, Ghana Union of Traders Association (GUTA), Ghana National Chamber of Commerce and Industry (GNCCI), Association of Small-Scale Industries (ASSI), Abossey Okai Spare Parts Dealers Association, Creative Arts Agency (CAA), and Sekondi-Takoradi Chamber of Commerce and Industry, sponsored their members to benefit from the stimulus package.
We are in negotiations with assembly plants – Spare Parts Dealers
The Abossey Okai Spare Parts Dealers Association says it has commenced talks with some vehicle assembling plants established in the country to manufacture car parts.
The move will see the production of the small spare parts for which raw materials can be found in Ghana.
Co-chairman of the Association, Clement Boateng, in an interaction with Citi Business News explained, “As I’m talking to you now, those assembly plants which will start assembling vehicles here have entered into negotiations with the association to try as much as possible to partner them to try the production of small spare parts for which raw materials can be found in the country”.
Implore banks to respond to policy rate decisions – Spare Parts Dealers tell government
The Abossey Okai Spare Parts Dealers Association says it expects the continuing government to implore commercial banks to respond inadvertently to the monetary policy rate decisions by the central bank.
According to Co-Chairman of the Association, Clement Boateng, as the policy rate is maintained, banks do not respond to it by way of also decreasing their interest rate.
Speaking in an interview with GhanaWeb on Monday December 14, Boateng explained, “As we’re about into the next year, we expect government to hold talks with banks so they could give us loans at very moderate interest rates so we can inject these soft loans into our businesses to help them expand and create more employment”