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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    African Finance Ministers tasked to allocate more resources into education sector

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey

    Inflation in Africa: Some subsidy programs prolonging situation – Jeff Gable

    Cedi Summit comes off today at Alisa Hotel

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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

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    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

    Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs

    CBOD calls for a more structured supply of Forex for petroleum products

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    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

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    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

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    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

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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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