Italian govt supports 8 Ghanaian companies

The Italian government has extended a 3.3 million euro loan facility to eight Ghanaian companies to support their various projects under the Ghana Private Sector Development Facility Projects (GPSDFP).The companies include; 21st Century Construction Limited, Miclin Construction Limited, M Bardisotti & Sons Limited, and Proteus Limited.

The rest are Gyanemens Enterprise Limited, Queen of the Night Hotel Limited, Advanced Car Care Centre Limited, and Intravenous Infusion Limited.

Speaking at a press conference to announce the facility in Accra, the Minister of Trade and Industry, Mr Haruna Iddrisu, lauded the Italian government for sharing in the aspiration of the government of Ghana to place priority on small and medium-scale enterprises (Smes).

The loan portfolio

The 3.3 million euro loan is part of a soft loan portfolio of 20 million euros earmarked for the GPSDFP.

Out of the 20 million, two million was earmarked for the management of credit facilities and the implementation of additional activities.

The activities included capacity building courses, micro-projects, and the development of industrial clusters at various parts of the country.

Mr Iddrisu, however, appealed to the beneficiaries to do everything possible to ensure that they kept to the schedule of the repayment and to work with the team of experts managing the GPSDFP.

“That is the only way we can guarantee the sustainability of the financing schemes and revolve them to benefit a lot more enterprises,” he said.

Stronger relationships

In his remarks, the Italian Ambassador to Ghana, Mr Laura Carpini, said under the loan agreement, the beneficiaries were required to import 70 per cent of the equipment they needed for their operations from Italy.

“We are proud that Ghana has chosen Italy as a privileged partner for a highly sensitive sector, as the promotion of the private development by the ultilisation of the latest Italian technology in equipment and machinery,” he said.

Mr Carpini  said start-ups and existing companies would also benefit from efficient and modern equipment, for “which we will be proud to provide the best Italian technology”.