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President launches GH¢1bn COVID-19 support fund…for MSMEs affected by pandemic
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President Nana Addo Dankwa Akufo-Addo has 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, President Akufo-Addo said at a ceremony to launch the scheme at the Jubilee House in Accra yesterday.
He said from today to June 20, self employed, sole proprietorship, limited liability partnerships and joint venture businesses with more than 99 employees can begin the application processes for support.
The President said business applicants must also belong to a trade association or group and be registered with the National Board for Small Scale Industries (NBSSI).
To apply, applicants must visit the NBSSI website or visit any of the 170 business advisory offices throughout the country to pick application forms to begin the process, he said.
President Akufo-Addo indicated that the business support programme is expected to 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 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
Furthermore, the President said the selected participating banks will provide negotiated counterpart funding to the tune of GH¢ 400 million.
President Akufo-Addo said the scheme is expected to reach 180 beneficiaries across the country.
President Akufo-Addo was however optimistic that the Ghanaian economy will bounce back stronger than it was before COVID-19.
He said his administration is committed to helping businesses to get on their feet again and contribute to the growth of the Ghanaian economy.
He pointed out that the government has secured a US$1 billion facility from the International Monetary Fund (IMF) to support the growth of the economy.
Additionally, he said the Bank of Ghana has earmarked an amount of GH¢10 billion as investment commitment to support the economy to resist the adverse effects of the COVID-19.
President Akufo-Addo said aside the GH¢1billion facility for MSMEs, the government will make available a GH¢3 billion credit and stimulus package to help boost businesses.
He said the Finance Minister has been tasked to continue finding more resources to support as many businesses as possible to ensure that the country bounce back stronger post COVID-19
The President noted that the pandemic has had a devastating impact of all economies around the world including the Ghanaian economy.
In Ghana, he said the pandemic has reduced productivity, job losses, and affected the revenue of government, businesses and households.
However, the President believes that the country’s economy will bounce back much stronger than it has ever been, post COVID-19.
BY YAW KYEI
Attorney General and Minister for Justice, Dr. Dominic Ayine, has announced that the government has accepted the recommendation to abolish the death penalty and replace it with life imprisonment as part of the constitutional review process.
He said the proposed amendment would affect Articles 3, 13, 19 and 72 of the 1992 Constitution, with offences that previously attracted the death penalty instead carrying life imprisonment.
Dr. Ayine made the announcement on July 30, 2026, at the Jubilee House in Accra during the Government Accountability Series while outlining the government’s position on the final recommendations of the Constitution Review Committee.
According to him, the government believes the death penalty is inconsistent with the constitutional right to life and Ghana’s international human rights obligations.
He explained that the recommendation forms part of broader proposals aimed at strengthening the protection of fundamental human rights under the Constitution.
Dr. Ayine said the government had also accepted the spirit of several recommendations to expand rights relating to women, children, persons with disabilities, older persons and the youth.
He added that a comprehensive Human Rights Act would be introduced to protect these rights and provide detailed enforcement mechanisms instead of amending the entrenched provisions of the Constitution through a national referendum.
By: Jacob Aggrey
Minister for Tourism, Culture and Creative Arts, Abla Dzifa Gomashie, has called on both local and international investors to tap into opportunities in Ghana’s tourism, hospitality and creative industries.
Speaking in an interview yesterday with World Media USA Today, the Minister said government is committed to creating a conducive investment environment to support growth in the sector.
She highlighted key investment areas including hotels, fashion, music, film production, and tourism infrastructure.
Dzifa Gomashie also encouraged Ghanaians to invest in domestic tourism to help boost the local economy.
According to her, strategic investment in tourism and the creative economy will drive economic transformation, create jobs, and position Ghana as Africa’s gateway for heritage, culture, business and investment.
“Ghana has vast opportunities across tourism, hospitality and the creative industries. We are ready and open for business,” she stated.
The Minister’s remarks come as government intensifies efforts to leverage culture and tourism as drivers of economic growth and job creation.
By Edem Mensah-Tsotorme
