Coronavirus Alleviation Program

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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's 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]

The objectives of the scheme are to provide emergency relief fund for MSMEs and entrepreneurs in Ghana, establish a comprehensive and financially sustainable emergency relief fund package for MSMEs and provide them with technical assistance to ameliorate the impact of COVID-19.[10]

Categories

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

  • Anidaso Soft Loan was meant for firms that are larger than micro-businesses.
  • Adom Micro Loan was meant for lower micro enterprises.[11]

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.[12]

Benefits

Controversies

References

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