Akufo-Addo launches $10 million tourism development project in Ghana
President Akufo-Addo has launched a $10 million Ghana Tourism Development Project to support small and medium enterprises (SMEs) in Ghana’s tourism value chain.
Delivering the keynote address, President Akufo-Addo said the move should provide an additional boost to transform the sector for economic growth.
Speaking on the theme “Empowering SMEs for Sustainable Tourism Development”, the President called on small businesses to support and use their investments wisely.
President Akufo-Addo said the project would support 60% of female candidates, among others.
He pledged his government’s commitment to supporting the tourism sector to boost income and job creation for development, and recognized the importance of tourism in terms of job creation, adding that “That was why the government was putting in place measures to stimulate the sector.”
“We are building a business-friendly environment that will strengthen entrepreneurship,” he said.
“It is in this sense that the government, through the Ministry of Tourism, Art and Culture, is supporting SMEs in the tourism, hotel and creative sector this year with an amount $10 million to strengthen their businesses. The fund is a grant mechanism under a World Bank project at the Ministry of Tourism,” he added.
The World Bank Country Director in Ghana, Pierre Laporte, expressed the bank’s willingness to support Ghana but urged those in the tourism sector to reciprocate by ensuring the success of the project.
Pierre Laporte, however, hoped that “despite the current micro-budgetary challenges, we are convinced that Ghana will pull through.”
the project’s objectives
The goal of the Ghana Tourism Development Project, an initiative of the Government of Ghana, is funded by the World Bank Group’s International Development Association (IDA).
The Ministry of Tourism, Arts and Culture (MOTAC) is the implementing agency for the project.
The project aims to improve tourism performance by improving tourist sites and developing the capacities of players in the sector to generate increased tourism revenues.
The project, which started in 2018, has four main components which are; see the strengthening of the enabling environment for tourism; development of tourist sites and destinations, support for tourism businesses and project management.