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$300m support available to Ghanaian MSMEs trading with USA

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United States (U.S) ambassador to Ghana, Stephanie Sullivan has revealed that there is a $300 million loan facility available to support micro, small and medium enterprises (MSMEs) in Ghana.

According to her, $10 million is the allocated amount per business.

Speaking at the opening of Domino’s Pizza at East Legon, Madam Sullivan referred to the eatery as an emblem of promoting Ghana-U.S. trade and further stated that the Africa Continental Free Trade area has increased interest in investments.

“I am very excited to be here today at the opening of Dominos Pizza at East Legon and it is emblematic of the interest of U.S. investors in doing business in Ghana. Having the secretariat of the Africa Continental Free Trade Area based in Accra has brought new interests and attention and we’re working with the secretariat to see if we may be able to help.”

“Between U.S. Exim Bank and Ghana Exim bank, we have a $300 loan facility which can help the micro, small and medium enterprises in Ghana that may want to import equipment and services from the United States. So we’re looking forward to those businesses benefit from that up to 10 million dollars maximum per business,” she said.

Vikas Singh, Managing Director of Far East Mercantile Limited, proprietors of Fire Foods Africa, said Dominos Pizza is not focused on any competition because it is way better in every way.

“Domino’s is a globally renowned brand. It is one of the best fast-food chains in the world. Our ideologies at the Far East have always been to bring great brands to Africa. We’ve always believed in the strength of Africa and this is an example that we have brought another good brand into Africa”

“We believe in the economic strength of Africa. There’s competition and there’s room for everybody to work. I’m not focused on the competition at all, I’m very confident Domino’s is way better in every way,” he said.

Executive Director for Fire Foods Africa, Karan Kapur indicated that the presence of Domino’s Pizza in Ghana will be an avenue for investments and job creation.

“There are a lot of foreign investments that will be coming into Ghana. We will also invest in localizing the supply chain and most importantly we’ll be providing employment, jobs, upscaling training as well. We’re investing in technology. For us Ghana has been a great investment opportunity,” he stated.

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