Friday, February 3, 2023
  • Home
  • News
    • Sector News
    • District News
    • World News
  • Speeches
  • GhanaToday Magazine
  • Creative Arts
  • Sports
  • Contact
No Result
View All Result
GhanaToday
  • Home
  • News
    • Sector News
    • District News
    • World News
  • Speeches
  • GhanaToday Magazine
  • Creative Arts
  • Sports
  • Contact
No Result
View All Result
GhanaToday
No Result
View All Result

Incorporate corporate governance to attract more investments – Akufo-Addo urges tourism industry

Incorporate corporate governance to attract more investments – Akufo-Addo urges tourism industry

by Ghana Today
July 6, 2022
in Business
0
President Nana Addo Dankwa Akufo-Addo (2nd Right) interacting with Dr Ibrahim Mohammed Awal, Minister for Tourism, Arts and Culture

President Nana Addo Dankwa Akufo-Addo (2nd Right) interacting with Dr Ibrahim Mohammed Awal, Minister for Tourism, Arts and Culture

">
ADVERTISEMENT

President Nana Addo Dankwa Akufo-Addo has urged players in the tourism, hospitality and creative arts sectors in the country to incorporate good corporate governance practices in their businesses to attract more investors.

President Akufo-Addo said that even though many companies had demonstrated commitment to good corporate governance, poor corporate governance had been sighted as the major factor that has led to the collapse of many businesses in the country.

The President, who made the appeal on Tuesday at the launch of the Tourism SME Grants under the Ghana Tourism Development Project, said in the global business space, only properly governed organisations attract investors.

">

He said as Ghanaian companies compete globally to attract foreign investment partnerships, they must be guided by the fact that investors are prepared to pay a premium for shares in a well-governed company.

“The onus is thus on business owners to position their businesses properly for foreign investment by ensuring that they implement and practice good corporate governance,” the President admonished.

The 2022 grants are in three categories. The first is COVID support, the second is SME support and the third is a site upgrade.

">
ADVERTISEMENT

The grant is intended to transform the tourism sector to stimulate economic growth to create jobs.

It is expected that 1,500 SMEs will benefit from the grant support. In 2021, the government through the Ministry of Arts and Culture disbursed the cedi equivalent of 10 million United States dollars to some 1,400 SMEs, the President said.

This year’s grant, President Akufo-Addo indicated, “will target some 60% women as beneficiaries because a majority of the operators in the sector are female.”

Dr Ibrahim Mohammed Awal, the Minister for Tourism, Arts and Culture, called on industry players to take advantage of the grant, access it and use the funds judiciously to grow their businesses.

Country Director of the World Bank, Pierre Laporte, on his part, said the tourism development project, signals the growing relations between Ghana and the World Bank, adding that it was a perfect vehicle through which Ghana can grow its economy in these difficult times in the global economy.

The Ghana Tourism Development Project is a Government of Ghana project, funded by the International Development Association (IDA) of the World Bank Group and the Ministry of Tourism, Arts and Culture (MOTAC) is the Project Implementing Agency.

Rex Mainoo Yeboah, ISD

Tags: President Akufo-AddoTourism SME Grants
SendShareTweetShareShare
Previous Post

French companies urged to invest in Ghana’s agric sector

Next Post

Vaccination against Covid-19 in Ashanti Region low – Regional Minister

Ghana Today

Related Posts

News

President Akufo-Addo commissions 300-bed accommodation for military

February 1, 2023
News

Ghana best place to do business in West Africa – President Akufo-Addo

January 18, 2023
News

President Akufo-Addo leaves for Abu Dhabi, London

January 16, 2023
Next Post

Vaccination against Covid-19 in Ashanti Region low – Regional Minister

President Nana Addo Dankwa Akufo-Addo cutting the tape at the presentation ceremony

President Akufo-Addo presents 45 buses to MMTL

Ghana set to request for a $1.5 billion from the IMF

Ten Diplomats receive Letters of Credence to represent Ghana  abroad

Govt collaborating with IMF to repair public finances in short run – President Akufo-Addo

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

">

Recent News

Education Minister urges stakeholders to uphold USAID Partnership Education

February 3, 2023

MCE admonishes contractor to speed up work Koforidua Jackson Park

February 3, 2023
Dr John Ampontuah Kumah (5th Right), Mr Tito Alai (5th Left) with other members of the delegation.

Ghana is ready to host Afreximbank’s 30th AGM – Deputy Finance Minister

February 3, 2023
">
GhanaToday

Ghana Today is your authentic, reliable News Website of the Information Services Department.

Follow Us

Browse by Category

Recent News

Education Minister urges stakeholders to uphold USAID Partnership Education

February 3, 2023

MCE admonishes contractor to speed up work Koforidua Jackson Park

February 3, 2023
  • Home
  • News
  • Speeches
  • GhanaToday Magazine
  • Creative Arts
  • Sports
  • Contact

© 2022 All Rights Reserved | GhanaToday.gov.gh

No Result
View All Result
  • Home
  • News
    • Sector News
    • District News
    • World News
  • Speeches
  • GhanaToday Magazine
  • Creative Arts
  • Sports
  • Contact

© 2022 All Rights Reserved | GhanaToday.gov.gh

GhanaToday cookies
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are as essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
SAVE & ACCEPT
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.