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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.
Dr Theresa Baffour, an advocate for ending violence and Chief Executive Officer (CEO) of SAHM SAHW Foundation, has said that society plays a critical and pivotal role in breaking the cycle of domestic violence.
According to her, domestic violence is a major contributor of making women, who are mostly the victims, mentally derailed and unable to engage in economic activities.
She said this when the foundation called on the Ga Mantse, Nii Tackie Teiko Tsuru II, to solicit support for the initiative by the “Strong and Healthy Minds, Strong and Healthy Women” (SAHM SAHW) to combat domestic violence within the Ga State.
The visit was occasioned by the fact that domestic violence cases have become quite prevalent in the Ga communities and is retarding growth.
According to her, the canker was an impediment to national development because the victims were usually tortured and would have to go through series of therapies to return to the right state of mind.
Dr Baffour mentioned that Gender-Based Violence (GBV) places a mental toll on women, and was, therefore, important to break the cycle through comprehensive mental health support, crisis intervention and empowerment programmes in communities with high rates of GBV.
This intervention, she underscored, would help in empowering the denigrated victim of domestic violence to soundly heal, build and thrive.
Dr Baffour added that the initiative would provide holistic, trauma-informed mental health care and advocacy for young women affected by domestic violence.
According to her, the above statement would create safe spaces for healing and equipping them with entrepreneurial skills for renewed hope and empowered life.
The Ga Mantse pledged his support for the laudable initiative to combat domestic violence and also acknowledged the need to address it in the Ga State.
Further endorsement came from Justice Julia Naa-Yarley Adjei Amoah, Chief of Staff at the Office of the Ga Mantse, as she commended the team of SAHM SAHW Foundation for taking a bold step to end the canker in the Greater Accra.
She added that it was a step in the right direction to save vulnerable women from torture, stress and emotional abuse.
By Alfred Nii Arday Ankrah
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Traders have returned to the streets of Accra, occupying pavements and stretches of some roads after the last major decongestion exercise.
The exercise, which was aimed at restoring order in areas like Kingsway, CMB, Rawlings Park, Tudu etc, have now been defeated.
From Kingsway to Rawlings Park, traders display several wares including, footwear, herbal medicines, plastic products, fresh fish, second-hand clothing, and vegetables, among others.
Local Evangelists are also not left out as they scramble for spaces on the streets.
Pedestrians, therefore, find it difficult to move around when shopping, due to the human and vehicular congestion created by the traders.
In an interview with The Spectator, Auntie Abigail, a trader, said her return to the streets was to sell more, and she saw nothing wrong with it.
Hajia, who deals in wholesale items, indicated that they were unable to make sales as their colleagues move to the pavement and since customers don’t want to come inside, they prefer to buy from them.
Meanwhile, the Chief Executive Officer of Accra Metropolitan Assembly, Michael Kpakpo Allotey, has given traders a grace period to go back to their shops.
By Linda Abrefi Wadie
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