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Coronavirus GH¢600m stimulus package in Ghana to focus on 9 sectors

BY: Maclean Kwofi
Mrs Kosi Yankey Ayeh
Mrs Kosi Yankey Ayeh

Businesses operating in nine selected sectors of the economy are the ones to benefit from the GH¢600 million stimulus package meant to cushion micro small and medium enterprise (MSME) from the negative impact of the coronavirus disease (COVID-19).

The beneficiary sectors are healthcare and pharmaceutical, manufacturing, agri and agri-business, water and sanitation, tourism and hospitality, education, textiles and garments, commerce or trade, and service.

These sectors, established to have been negatively impacted by the virus, were identified as beneficiaries under the modalities of the Coronavirus Alleviation Programme (CAP) Business Support Scheme by the National Board and Small Scale Enterprises (NBSSI), reports Graphic Online's Maclean Kwofi.

The Executive Director of the NBSSI, Mrs Kosi Yankey Ayeh, who made this known at a meeting on the stimulus package with leaders of business associations and trade groups on May 14 in Accra, observed that the GH¢600 million stimulus package was introduced by the government to support businesses that were directly affected during the lockdown.

Prove of membership

But to benefit from the fund, she said an applicant (business) among other things was expected to show proof of its membership to a recognised association, trade group or registration with the NBSSI as part of the eligibility criteria.

She observed that NBSSI will partner with the various associations to monitor all funds disbursed, reports Graphic Online's Maclean Kwofi who sat through the meeting.

"I will need the associations to help us (NBSSI) to provide monitoring and evaluation on the funds disbursed."

"The programme will be rolled out nationwide and targets businesses that are part of an association, trade group or NBSSI."

"This will help people to align with the associations in order to grow their membership base and make them stronger to get the needed support going forward," she added.

As part of the modalities, she said an applicant must show a verifiable evidence of business activities gravely impacted by the COVID-19 pandemic.

"Potential and existing businesses with bankable plans or producing items to support the fight against the COVID-19 pandemic," she added.