8,000 people apply for GH¢600 million Coronavirus Alleviation Programme

The Executive Director of the NBSSI, Mrs. Kosi Yankey Ayeh has said more than 8,000 have applied for the GH¢600 million Coronavirus Alleviation Programme (CAP) business support scheme intended to support small and medium-scale enterprises (SMEs) impacted by the novel Coronavirus (COVID-19).

She said, in addition to the applications, more than 1,000 persons and institutions had called the board to make inquiries on the financial support meant to cushion businesses.

According to her, "We have so far received over 1,000 calls with people asking how they can access the platform and how to apply, and how we can help them to address some challenges they encountered in the course of applying.

"The good news is that about 8,000 plus applicants had registered as of May 21 and are waiting to go on to the next step of the application process."

On May 19, 2020, President Nana Addo Dankwa Akufo-Addo launched a GH¢600 million Coronavirus Alleviation Programme (CAP) business support scheme.

The fund is intended to provide relief to SMEs across the country that has been negatively affected by the disease.

In his fifth televised address to the nation, the President announced that the government has partnered with the private sector to introduce a scheme in support of SMEs which are facing challenges owing to COVID-19.

"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," he stated.