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    Ghana is the best destination for investment in West Africa – Bawumia

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    Modify old trade conventions to favor local printing firms – AGI tells govt

    Ken Ofori-Atta, Ministry of Finance for Ghana, gives an interview during day 3 of the AfDB Annual Meetings on 13 June 2019 in Malabo, Equatorial Guinea. (Photo by Malick Silue)

    Ghana sends debt restructuring proposal to official creditors

    IMF mission staff arrive in Ghana today to assess implementation of economic recovery programme

    WTO Chief urges African governments to increase trade, agric investment

    Publish gold-for-oil policy document to improve transparency – Dr. Manteaw

    Citi Business Festival 2023: Takeaways from reimagining digital economy forum

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    Ghana is the best destination for investment in West Africa – Bawumia

    African leaders urged to push for electronic cars over combustible automobiles 

    Modify old trade conventions to favor local printing firms – AGI tells govt

    Publish gold-for-oil policy document to improve transparency – Dr. Manteaw

    Re-consider computation of VAT for local industries- AGI tells govt

    IMF proposes acquisition, mergers of banks to mitigate financial sector instability

    Ghana and Côte d’Ivoire partner to tackle cocoa smuggling

    Mobile money disrupted banking in Ghana – Zeepay CEO

    Ghana’s oil reserve recording steady growth – GNPC CEO

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    #CitiBusinessFestival: Trust ecosystem needed to minimize e-commerce fraud – Benedict Bentil

    Citi Business Festival: Forum on Digital Economy comes off today

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    Cyber Security Authority mandate critical to country’s development – Joseph Cudjoe

    MTN shareholders given choice to convert dividend or take cash

    Ghana gets $300 million from US to build first-of-its-kind data center

    Telcoms industry players urged to partner government to promote clean energy transition

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    Foreign exchange: Several African countries have a shortage of US dollars – why this happens and how to fix it

    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

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Over 500 dressmakers supported with GHS1 billion stimulus package

August 19, 2020
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Over 500 members of the Ghana National Tailors and Dressmakers Association have received loans from the government’s GHS 1 billion Coronavirus Alleviation Programme Business Support Scheme (CAP BuSS) managed by the National Board for Small Scale Industries (NBSSI).

The CAP Business Support Scheme which was launched in May 2020 was part of the government’s economic relief package scheme for Micro, Small and Medium Enterprises (MSMEs) across the country affected by the pandemic.

CAP BuSS offers two main products – the ‘Adom’ micro soft loans and ‘Anidasuo’ soft loans, as well as a technical support component for MSMEs.

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“Our members numbering over 500 have duly received the Adom loans. Thus, on behalf of my Association, I wish to thank the President through NBSSI for providing this timely relief to sustain our businesses,” said the President of the Ghana National Tailors and Dressmakers Association, Joana Eshun.

She, however, appealed to NBSSI to extend the support to more of its members.

According to the NBSSI, GHS135 million has so far been distributed to beneficiaries, with the loan value ranging from GHS500 to GHS10,000 per beneficiary.

The beneficiaries comprise 72 percent female and 27 percent males from all regions of the country.

The business sectors that have so far received loans include commerce and trade, dressmakers and tailors, agri and agro-processing, manufacturing, food and beverages, textile and garments, transportation and tourism, and hospitality.

The GHS1 billion stimulus package comprises GHS 600 million in soft loans, and the remainder as matching funds from the participating financial institutions.

At the recent mid-year Budget Review presented by the Minister of Finance, Ken Ofori-Atta, Government of Ghana announced an additional GHS150 Million with a one year-moratorium and two-year repayment period to support in relieving Ghanaian MSMEs from the challenges brought on board by COVID-19 Pandemic.

Source: Jonas Nyabor | citibusinessnews.com | Ghana
Tags: CAP BuSSCiti Business NewsGhana National Tailors and Dressmakers Association
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