President Nana Addo Dankwa Akufo-Addo has launched a GH¢600 million Coronavirus Alleviation Programme (CAP), a business support scheme intended to support small and medium-scale enterprises (SMEs) badly affected by the novel coronavirus.
The fund is intended to provide relief to SMEs across the country that has been negatively affected by the disease.
The Government, in collaboration with the National Board for Small Scale Industries (NBSSI), Business & Trade Associations and selected Commercial and Rural Banks, will roll out a soft loan scheme up to a total of GH¢600 million which will have a one-year moratorium and two-year repayment period for micro, small and medium scale businesses.
However, Speaking with The Director, Woman Entrepreneurship Development of the NBSSI, Ms Habiba Sumani on Adoa TV AM Ghana with Anastasia Baddoo, she indicated that, the 600 million Ghana cedis from Government is not enough to disburse as loans to efficiently satisfy all micro, small and medium scale businesses.
She added that the organization is seeking additional monetary funds to secure this micro, small and medium enterprise since it is their core mandate is to ensure the growth and development of these enterprises to boost employment rate in the country.
In seeking funds to support these business units, Ms. Habiba disclosed that some Banks have promised to contribute 4 Million GH to support the initiative.
Speaking on which group, people or individuals who are eligible to the apply the CAP scheme, Ms Habiba stressed on the president’s directives of the scheme intends to support small and medium-scale enterprises with employees between 1-5 fall within the category under the Micro, 6-29 as small and from 30-99 as medium.
She added that aside from the number of employees, one must register as a member of NBSS, a business that has been affected by COVID-19 and this will guarantee an individual, group or a business’s eligibility to the CAP scheme.
She ended by advising citizens to be cautious of fraudsters, since some unscrupulous individuals are using the NBSSI’s name to fraud individuals.
Story By: ANFRED