13 Enterprises benefit from GH¢47.58m EDAIF funds

Thirteen businesses in the country have benefited from GH¢47.58 million grants and credit from the Export Trade, Agricultural and Industrial Development Fund (EDAIF).

The monies were given to them last month.

It adds to other grants and loans disbursed to businesses, mostly in the micro, small and medium-scale enterprises (MSMEs) sector, by the board this year.

A statement from the fund said the August approvals were for various economic activities spanning different sectors of the economy.

“The grant component, amounting to GH¢31.3 million, was approved for both public and private sector initiatives and interventions in export trade, agricultural and industrial development.”

 Some specific activities supported were the purchase of additional equipment for fish processing, the establishment of a shea butter-processing facility, construction of a smock weaving community centre, the establishment of a community-based oil mill and several others,” the statement which was copied to the Daily Graphic said. 

It stated that four firms received a total of GH¢16.2 million in loans for the acquisition of equipment and spare parts for recycling of liquid and solid waste into compost and other usable by-products, the production of alcoholic beverages and the expansion of pineapple production for export. 

“The board and management of EDAIF wish to encourage smallholder Ghanaian co-operatives, associations and businesses to contact the organisation for further information,” the statement added.