President Nana Addo Dankwa Akufo-Addo has urged all persons who intend to access the two financial avenues, Adom microloans for smaller enterprises and the Anidasuo soft loans for larger enterprises, to use the resources for the sole purpose for which they are advanced to them.
Speaking at the “Presidential launch of the Coronavirus Alleviation Programme (CAP) Business Support Scheme” at the Banquet hall of the Jubilee House, President Akufo-Addo said the impact of the COVID-19 pandemic on jobs in Ghana cannot be overemphasised.
However, he said he is determined to do everything in his power to protect jobs at all levels of the Ghanaian economy.
“I am passionate about the scheme working. The government is investing a lot in it and I am confident that the proper application of these funds will help our nation bounce back stronger and better than before”, President Akufo-Addo noted.
“The business support programme is an integral part of the resilience and recovery plan, which is being instituted by the government to ensure the renewal of economic activity and sustenance of livelihoods. We are determined to protect as many jobs as possible and to help as many businesses as possible get back on their feet”, President Akufo-Addo added.
The Minister of Finance, Ken Ofori-Atta, has said the GHS600million stimulus package is a good start to assist Small and Medium Scale Enterprises (SMES) in Ghana following the COVID-19 pandemic.
As part of efforts of ameliorate the hardship on Ghanaian businesses the government of Ghana has earmarked GHS 600million to assist businesses.
However, analysts and groups including the Trades Union Congress (TUC) and the Ghana National Union of Traders Association (GUTA) have said the amount is not enough to support the businesses.
But Mr Ofori Atta indicated that the Akufo-Addo administration is committed to ensuring that SMEs remain vibrant in order to create jobs for Ghanaians during the period of the coronavirus pandemic.
He said, this commitment is seen in the earmarked GHS600million for SMEs to ensure they remain in business in spite of the impact of the COVID-19.
He was speaking at the launch of the coronavirus alleviation programme business support scheme, at the seat of government, the Jubilee House in Accra on Tuesday May 19.
He said the “government is committed to ensuring that SMEs remain vibrant and continue to create jobs for the people of Ghana during this period.”
He added GHS600million can go a long way in creating the Ghanaian enterprise.
Robert Ahomka Lindsey, a Deputy Minister of Trade and Industry said the coronavirus alleviation programme is a key intervention to address the challenges facing Ghanaian businesses following the covid-19 pandemic.
The programme will focus on the Pharmaceutical, manufacturing, tourism, water and sanitation, education including private, sectors.
“The programme will be rolled out nationwide,” he said.