ALMOST half of those employed have lost their jobs due to Coronavirus (COVID-19) pandemic, the World Bank has said. The bank put the percentage
ALMOST half of those employed have lost their jobs due to Coronavirus pandemic, the World Bank has said.
Speaking on the impact of the pandemic on the local economy, Rostom stated: “42% of individuals who were working before March 2020, especially those working in hospitality and service industry are no longer working.”The panellists agreed that MSME’s are the largest employers of labour as they account for about 84 per cent of jobs in the country.
According to her, “for MSMEs, risk sharing helps eliminate financial oppression and predatory lending, while also ensuring prosperity is shared equitably. For the government, risk sharing contributes to the realisation of its economic objectives and stabilisation policies”Mrs. Omatseye noted that credit guarantees will enhances access and improves the quality of Credit to close a gap in the existing market.
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