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COVID-19 Businesses Support Fund should spur MSMEs on to thrive
President Nana Addo Dankwa Akufo-Addo on Tuesday launched a GH¢1 billion COVID-19 Alleviation Business Support Programme to support Micro, Small and Medium Enterprises (MSMEs) affected by the coronavirus (COVID-19) pandemic.
The amount is expected to support businesses in areas such as agriculture and agribusiness, manufacturing, tourism and hospitality, education, food and beverages, technology, transportation, commerce, healthcare and pharmaceuticals, and textile and garments.
Additionally, MSMEs which need expansion to meet the growing demand for COVID-19 related goods and services can also apply.
According to President Akufo-Addo, the business support programme, which is expected to reach 180 beneficiaries across the country will help minimise job losses in the wake of the outbreak of the COVID-19 pandemic.
Out of GH¢1.2 billion earmarked for the programme, he said GH¢600 million will be disbursed as soft loans to MSMEs with one year moratorium and two years repayment. The rate of interest on the loans is three per cent.
Aside the GH¢1billion facility for MSMEs, the President indicated that the government will make available a GH¢3 billion credit and stimulus package to help boost businesses.
The Ghanaian Times applauds government for this initiative aimed at helping all businesses that have been heavily hit by COVID-19 in the country.
The harm that has been caused by the outbreak on Ghanaian businesses cannot be overemphasized.
The package, we believe, offers a huge sigh of relief to businesses which have seen their productivity levels and revenue reduced drastically and are struggling to hold on to their employees.
It is true that globally, the pandemic has rendered economies flat and affected the income of government, businesses and households.
In Ghana, MSMEs, which accounted for 70 per cent of the country’s Gross Domestic Product (GDP) and represented 92 per cent of businesses, have not been exempted.
This is why it is imperative that we support all efforts to ensure the success of the COVID-19 Alleviation Programme (CAP) Business Support Scheme to protect jobs and bring back the country’s economy to life when the dust settles.
We urge all businesses to take advantage of the government’s support programme and use the funds for the intended purposes to resuscitate their businesses and further enhance Ghana’s economic growth.
We are also mindful that not all businesses can be supported owing to limited funds and so we urge all beneficiaries to pay back on time to enable government extend similar support to others.
Even as we commend government for this laudable initiative, we will urge the country mobilise more funds to support other sectors including the media which are not expected to benefit from the support scheme in these difficult times.
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Speaker of Parliament inaugurates open Parliament Steering Committee, launches action plan
The Speaker of Parliament, Alban Sumana Kingsford Bagbin, has launched the Open Parliament Steering Committee and the Open Parliament Action Plan.
The ceremony was under the theme “Achieving Gender Equality: Action by Action.”
The Speaker highlighted the critical role Parliament plays in translating the will of the people into inclusive legislation, responsive policies, and accountable governance.
“The International Day of Parliamentarianism is worth celebrating, as it offers an opportunity not only to recognise and promote achievements in strengthening democratic governance, but also to pause and reflect on the remaining gaps in institutionalising parliamentary democracy,” he said.
He noted that the event was scheduled to coincide with the International Day of Parliamentarianism to reinforce the importance of open and inclusive governance.
The Majority Leader, Mahama Ayariga, stated that the International Day of Parliamentarianism is intended to recognise the vital role Parliaments play globally as pillars of democratic governance.
He noted that this marks the first time Ghana is formally observing the day.
“The gravity of our observance is further accentuated as we convene to witness the launch of the Open Parliament Action Plan by the Open Government Partnership Caucus,” he said.
Delivering a statement on behalf of the Minority Leader, Alexander Kwamena Afenyo-Markin, the Deputy Minority Leader, Patricia Appiagyei, described the Open Parliament Action Plan as a transformative initiative aimed at strengthening the relationship between Parliament and the public.
She said the plan represents a bold commitment to making Parliament more transparent, accessible, and responsive to the needs of Ghanaians.
The Clerk to Parliament, Mr. Ebenezer Ahumah Djietror, described the launch as a key milestone in the effort to build a citizen-focused and accountable Parliament.
He added that the International Day of Parliamentarianism is a call to action to recommit to the highest standards of public service and democratic accountability.
The inauguration was attended by a wide range of stakeholders, including the Majority and Minority Members of Parliament, members of the Open Parliament Steering Committee, the Open Government Partnership (OGP) Caucus, Parliamentary Network Africa, representatives from civil society organisations, members of the diplomatic corps, traditional and religious leaders, student bodies, the Parliamentary Press Corps, and other media partners.
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NACOC declares drug menace a national emergency
The Parliamentary Committee on Defence and Interior has paid a working visit to the Narcotics Control Commission (NACOC) to engage with its leadership and assess operational challenges hampering the fight against illicit drugs.
In a detailed presentation, Dr. Basha Ligbi, Head of the Commission’s Research Bureau, highlighted critical setbacks including broken body scanners at airport terminals, inadequate office infrastructure, overcrowded detention facilities, and deteriorating vehicles.
He also called for the Commission’s headquarters to be reclassified as a security zone, citing growing security risks due to private encroachment and nearby high-rise developments.
Director General of NACOC, Brigadier General Maxwell Obiba Mantey, described the escalating drug trade as a national emergency, warning that drug barons now rival armed robbers in threat level and are gaining influence at the highest levels.
He appealed for stronger institutional support and morale-boosting interventions to preserve the integrity of NACOC officers.
Chairman of the Committee and MP for Builsa North, James Agalga, assured the Commission of the Committee’s commitment to escalate the concerns to Parliament and engage key justice sector stakeholders to fast-track reforms in support of NACOC’s mandate.
