COCOBOD predicts $1 billion loss to Ghana, local businesses manufacture PPEs and more

COCOBOD predicts $1 billion loss to Ghana, local businesses manufacture PPEs and more

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COVID-19: Akufo-Addo announces GHC600 million soft loan package for SMES in Ghana:

President Akufo-Addo has revealed that small and medium scale businesses in Ghana would benefit from a GHC600 million soft loan package.

According to him, the move is to protect such businesses from the economic impact of the coronavirus.

As part of a nationwide address on Sunday, April 5, 2020, he explained that the plan is to ensure that Ghanaian businesses are still functioning even though industries are affected by the pandemic.

READ ALSO: IMF gives Ghana $1 billion to combat COVID-19

COVID-19: Local businesses to begin manufacturing gloves and others – Akufo-Addo:

President Akufo-Addo has revealed that local manufacturing firms would soon begin the production of Personal Protective Equipment (PPEs).

According to him, the project would kick off on Tuesday, April 7, 2020, and the government is ready to provide support to make this a reality.

He went on to say that “three million, six hundred thousand face masks will be produced domestically, with an output of one hundred and fifty thousand (150,000) per day.”

COVID-19: Banks in Ghana support pharmaceutical companies with GHC3 billion in loans:

The Ghana Association of Bankers (GAB) has announced a GHC3 billion package for pharmaceutical companies working in Ghana. understands that this forms part of the strategies adopted by GAB to support the companies.

The decision comes at a time when Ghana is implementing measures to eradicate the epidemic and GAB argued that the pharmaceutical companies are playing an important role in that endeavor.

COCOBOD predicts Ghana could lose $1 billion as global price of cocoa falls:

COCOBOD has predicted that Ghana is likely to lose $1 billion in revenue following a drop in global cocoa prices. understands that the outbreak of the coronavirus led to a decline in cocoa prices on the world market.

This, COCOBOD explained, has stalled the current syndication process for loan facilities for the 2020/2021 crop season.


No price drop expected yet for cocoa farmers due to COVID-19 – COCOBOD:

The Ghana COCOBOD has downplayed suggestions that the producer price of cocoa may fall due to the outbreak of COVID-19 pandemic.

COCOBOD in 2019 increased the producer price of the beans from GH¢7,640 to GH¢8,240 per tonne.

With the global fight against COVID-19, most international trading commodities have seen plummeting prices with cocoa also being affected.

READ ALSO: COVID-19: Fitch predicts slowdown in Ghana's power sector

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