To mitigate the adverse effect of the pandemic on Ghanaian businesses, the government has allocated GHC1.2 billion towards the implementation of the Programme.
In a nationwide address on Sunday, 5th April 2020, the President, His Excellency Nana Addo Dankwa Akufo-Addo announced, “Government, in collaboration with the National Board for Small Scale Industries (NBSSI), Business & Trade Associations and selected Commercial and Rural Banks, will roll out a soft loan scheme up to a total of Six Hundred Million Cedis (GH¢600 million), which will have a one-year moratorium and two-year repayment period for micro, small and medium scale businesses.”
At the launch of the COVID-19 Alleviation Programme, the president said that: “Disbursement of the funds will be effected through the participating banks. Transparency and accountability will be the hallmarks of the operation of the Scheme.”
He said the scheme is targeted at MSMEs in the formal and informal sectors, which have been affected by the adverse economic effect of the pandemic. He added that MSMEs in growth sectors that require additional capital to expand their business to meet the growing demand for COVID-19 related goods and services, also eligible to apply.
Below are the steps to follow to apply for support
- Find out if you are eligible.
- All MSMEs in the formal and informal sectors, affected by the economic downturn caused by the COVID-19 pandemic.
- MSMEs in growth sectors who require additional capital to expand their business to meet the growing demand for COVID 19 pandemic-related goods and services can also apply.
- Register via the nbssi web portal, phone 0302747777, BACs, or USSD code.
- You will receive a unique reference code via text and email after registration.
- Wait for a second notification via text and email to continue the application.
- Use the unique code received earlier to continue with the loan application.