Coronavirus Alleviation Program

The Coronavirus Alleviation Program Business Support Scheme (CAPBuSS) was launched in Ghana on 19 May 2020 by President Nana Akufo-Addo. It was formed as part of Ghana's government intention of providing support to MSMEs who were affected by COVID-19 pandemic.[1][2][3] It was presented by an agency under the Ministry of Trade and Industry in Ghana called NBSSI.[4][5] The president announced GH¢1 billion after it was approved by the parliament of Ghana.[6][7][8] The NBSSI ended the disbursement of funds in January 2021.[9]

Categories

The fund is said to be categorized into two loans with an interest rate of 3% which is payable within 2years.

  • Anidaso Soft Loan was meant for firms that are larger than micro-businesses
  • Adom Micro Loan was meant for lower micro enterprises.[10]

Job Creation

According to the Executive Director of NBSSI, more than 21,800 jobs were created under this scheme which were mainly owned by youths in Ghana.[11]

Benefits

About 110,000 MSMEs in Ghana were said to be owned by women who have benefited from the funds set by the government.[12] In October 2020, government launched an amount to aid banks in Ghana to give financial help to SMEs for their recovery from the shocks of the pandemic.[13] The Executive Director of NBSSI claimed there was an approval for the disbursement of stimulus packages to over 1,000 private schools in the country.[14]

The NBSSI in partnership with the MasterCard Foundation launched the Nkosuo Program for the support of both formal and informal sectors who were affected by COVID-19 pandemic.[15]

References
  1. Donkor, Jonathan (2020-06-10). "Ghana: 170,000 MSMEs Apply for COVID-19 Business Support Scheme - NBSSI". allAfrica.com. Retrieved 2020-08-27.
  2. "Coronavirus Alleviation Programme Business Support Scheme (CAP BuSS): Win-Win for All!". MyJoyOnline.com. 2020-05-29. Retrieved 2020-08-27.
  3. "170,000 MSMEs apply for COVID-19 business support scheme- NBSSI". Ghanaian Times. 2020-06-10. Retrieved 2020-08-27.
  4. "IIA - Invest In Africa : Prospering African Economies". investinafrica.com. Retrieved 2020-08-27.
  5. "Ghana Can Dream Again – Coronavirus Alleviation Programme Business Support Scheme: Win-Win For All!". www.msn.com. Retrieved 2020-08-27.
  6. "COVID-19 Alleviation Programme: 8,000 apply for loan". Graphic Online. Retrieved 2020-08-27.
  7. "NBSSI detects 5,200 fraud alerts on Coronavirus Alleviation Programme". www.ghanaweb.com. 2020-06-22. Retrieved 2020-08-27.
  8. Bureau, Communications. "President Akufo-Addo Launches Gh¢1 Billion Cap Business Support Scheme". presidency.gov.gh. Retrieved 2020-08-27.
  9. "CAPBuSS disbursement ends January 31". www.ghanaweb.com. 2021-01-30. Retrieved 2021-01-30.
  10. "NBSSI disburses GHC1m to micro business owners". BusinessGhana. Retrieved 2020-08-27.
  11. "21,892 jobs created in three and half years – NBSSI". www.ghanaweb.com. 2020-10-03. Retrieved 2020-10-05.
  12. "Coronavirus: 110,000 women-owned businesses get support". www.ghanaweb.com. 2020-10-05. Retrieved 2020-10-05.
  13. "Govt unveils GH¢2 billion credit guarantee scheme for SMEs". www.ghanaweb.com. 2020-10-18. Retrieved 2020-10-18.
  14. "Disbursement of GH¢50 million stimulus to private schools approved – NBSSI". www.ghanaweb.com. 2020-09-14. Retrieved 2020-09-15.
  15. "NBSSI launches business support programme". Graphic Online. Retrieved 2020-09-17.


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