Over 5000 SMEs Register For Ghc600m Covid-19 Alleviation Programme

Esi Kosi Yankey

Over 5000 Small and Medium Scale Enterprises (SMEs) have registered for the Ghc 600m Coronavirus Alleviation Programme (CAP).

The business support scheme intended to support SMEs impacted by the novel Covid-19, has also received over 1000 calls from businesses.

President Akufo-Addo on Tuesday launched the fund intended to provide relief to SMEs across the country that have been negatively affected by Covid-19.

Executive Director of NBSSI, Esi Kosi Antwiwaa Yankey, addressing a Covid-19 press briefing in Accra on May 21, said SMEs have shown great interest in the scheme.

She said about 33 per cent of businesses that have registered are female-owned while about 66 per cent are male-owned.

She also announced that President Akufo-Addo has revised the interest rate of the loan from the initial five per cent to three per cent.

Mrs Yankey noted that the moratorium, however, remains one year adding that the loan can be accessed over two to three year period.

She said the loan is accessible to everybody so far as the businesses meet the selection criteria.

The NBSSI Director, however, said loan defaulters will be sanctioned by the financial institutions that will be disbursing the fund.

By Jamila Akweley Okertchiri