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Over 500 members of the Ghana National Tailors and Dressmakers Association have received loans from the Government’s GHS 1Billion Coronavirus Alleviation Programme Business Support Scheme (CAP BuSS) managed by the National Board for Small Scale Industries (NBSSI) in collaboration with Participating Financial Institutions (PFIs) and selected telecommunication companies.

The CAP Business Support Scheme launched by His Excellency, President Nana Addo Dankwa Akufo-Addo in May 2020 forms part of Government of Ghana’s economic relief strategy to support Micro, Small and Medium Enterprises (MSMEs) across the country affected by the impact of the Pandemic.

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

The President of the Ghana National Tailors and Dressmakers Association – Madam Joana Eshun, has confirmed that more of her members have benefitted from the Scheme. “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,” she noted in a brief statement.

Madam Joana also appealed to NBSSI to extend the support to more of their members; “it is a panacea to touch many more lives affected negatively by the Coronavirus Pandemic.

The Programme has already disbursed GHS135 Million to beneficiaries, with loan value ranging from ghs500 to GHS10,000 per beneficiary, comprising 72 per cent female beneficiaries and 27 per cent males. Disbursements have so far been made to businesses in all 16 regions of Ghana. 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, Hon. 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.

About NBSSI

The National Board for Small Scale Industries (NBSSI) is a governmental agency under the Ministry of Trade and Industry mandated by Act 343 of 1981, to strengthen and grow MSMEs in Ghana. With a footprint in 183 districts across the nation, it is well-positioned to execute the task at hand.

NBSSI has a proven track record in delivering results through similar interventions. In the last three years, NBSSI has chalked many significant milestones such as the training of 65,000 youth, of which women accounted for 62 per cent. This was done through innovation hubs, apprenticeship programmes, access to international export markets and providing approximately GHS70 million worth of funding.