Distressed business to benefit from GH¢100m stimulus package

Government is to set aside GH¢100 million to be used to revamp some distressed businesses that are struggling to stay afloat due to challenges beyond them.

The amount is captured as stimulus package for distressed industries in the 2018 budget, due to be presented to Parliament on Wednesday.

The money will be expended on businesses that will be identified by a special group of government officials and players in the private sector, led by the Association of Ghana Industries (AGI).

The stimulus package is part of the government’s plan to create a solid economy that thrives on strong private sector growth.

The package comes a year after the infamous dumsor – power outages – had combined with other challenges to cripple a lot of companies.

This caused many to lay off their staff in a bit to downside and be competitive.