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President Akufo-Addo Launches GH¢1 Billion Cap Business Support Scheme

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GREATER ACCRA – Tuesday, May 19, 2020/www.gbafrica.net/ – The President of the Republic, William Nana Addo Dankwa Akufo-Addo, on Tuesday, 19th May, 2020, launched the GH¢1 billion Coronavirus Alleviation Programme Business Support Scheme, which is being provided by Government and selected participating banks to micro, small and medium-scale businesses around the country.

Launching the Scheme at Jubilee House, the seat of the nation’s presidency, President Akufo-Addo explained that the outbreak of the Coronavirus pandemic has had a devastating impact on all economies around the world, with reduced productivity, job losses, and steep decline in revenues for Government, businesses, households and individuals in Ghana.

Amongst the hardest hit in Ghana, according to the President, are micro, small and medium-scale enterprises (MSMEs), which account for 70% of the country’s gross domestic product, and represent some 92% of businesses, explaining that, this amply highlights the important role MSMEs play in the growth and development of our economy, necessitating the special attention of Government.

This, President Akufo-Addo said, provides the basis for my direction to the Minister for Finance to send to Parliament the Coronavirus Alleviation Programme (CAP), whose objective is to protect households and livelihoods, support micro, small, and medium-scale businesses, minimise job losses, and source additional funding for promotion of industries to shore up and expand industrial output for domestic consumption and exports.”

Out of the 1.2 billion cedis earmarked for this Programme, GH¢600 million will be disbursed as soft loans to MSMEs, with up to a one-year moratorium and a two-year repayment period. The rate of interest on government’s six hundred million cedi (GH¢600 million) facility is three percent (3%).

Additionally, selected participating banks will provide negotiated counterpart funding to the tune of GH¢400 million, making, in all, GH¢1 billion for disbursement under this Business Support Scheme, with the entire scheme set to attract some 180,000 beneficiaries across the country.

With the funds under the Scheme to be managed by NBSSI, and to be supervised by a loans committee, composed of one representative each of the Ministries of Finance and Trade and Industry, a representative of the NBSSI, and a representative of the participating banks, the well-known audit firm, KPMG, will act as technical advisors to the Scheme. He added 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.

President Akufo-Addo indicated that the Scheme is targeted at MSMEs in the formal and informal sectors, which have been affected by the economic downturn caused by the pandemic, with MSMEs in growth sectors that require additional capital to expand their business to meet growing demand for COVID-19 related goods and services, also eligible to apply.

The beneficiary sectors include agri and agro-businesses; manufacturing; water and sanitation; tourism and hospitality; education; food and beverages; technology; transportation; commerce and trade; healthcare and pharmaceuticals; and textiles and garments.

In order to ensure a smooth application process for all eligible candidates, application forms have been made available online on the website of NBSSI, which is www.nbssi.gov.gh. It is also available via USSD code across all mobile networks, and applicants can also call the CAP Business Call Centre on 0302 477 777, or visit the nearest NBSSI Business Advisory Centre for assistance with their applications.

The President added that beneficiaries must be either self-employed, sole proprietors, or engaged in a limited liability, partnership, or joint venture arrangement.

“A total of ninety-nine (99) employees is the limit of employment for any qualifying enterprise. The qualifying enterprise will be encouraged to belong to a trade association or group, and be registered with NBSSI. The application process starts tomorrow, 20th May, and ends on Saturday, 20th June,” he said.

The President urged beneficiaries to use the funds received for the intended purpose, “so that, together, we can work to grow our economy once again. Smaller enterprises can access funds from the Adom Micro Loans, and larger ones from the Anidasuo Soft Loan. This whole Scheme is meant to engender compassion and hope, the pillars upon which we will build a new post-COVID Ghana.”

Reiterating his passion for the success of the Scheme, President Akufo-Addo reminded beneficiaries of the fact that “Government is investing a lot in it, and I am confident that the proper application of these funds will help our nation bounce back stronger and better than before.”

Entertainment

“I Haven’t Endorsed Any Political Party”, Stonebwoy Speaks On NPP Endorsement Brouhaha

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With just approximately 14 days to elections, Politicians are leveraging on creatives with outrageously large influence on the society to canvas for votes. With the majority of talents availing themselves to be used by politicians to incite electorate’s decision, just a few are on the notion that, staying neutral and allowing the electorate to elect president and parliamentarians based on achievements is the best.

Multi award-winning reggae & dancehall artiste, Stonebwoy, has, in a recent interview on an Accra-based Okay FM, stated that, though he is going exercise his civic responsibility on the day on December 7, he has not made any public declaration for any political candidate to be elected or re-elected for office. But, however believing that, electorates should be given the opportunity to access the political party they feel deserves their votes.

“I won’t endorse any political party for now but I know our father, H.E Nana Akufo Addo has done a lot of good things which are endorsable”, he told host of Ekwanso Dwodwo, Abeiku Santana.

Earlier, Ghanaian born hiplife artiste Batman Samini, endorsed Nana Addo Dankwa Akufo-Addo in a hot single “Kpoyaka” which outlines the achievements of the New Patriotic Party (NPP), a liberal democratic political party which was registered on 28 July 1992, Government under the leadership of Nana Akufo-Addo.

Sarkodie also dropped “Happy Day” featuring Kuami Eugene. The ambiguity and or inexactness of the song produced by MOG Beatz and Mastered by Possigee has left consumers in a state of uncertainty, as it has become very difficult to interpret it to be a Gospel or political campaign song for the governing New Patriotic Party. However, some part of the lyrics suggest it is actually an agenda driven campaign so for President Nana Akufo-Addo and also a Gospel song to keep nerves calm in these hard times.

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Ursula Owusu Commissions Basketball Court At Dansoman SSNIT Flat

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Becoming the first of the its kind in the constituency, the Member of Parliament for the Ablekuma West Constituency, Mrs. Ursula Owusu-Ekuful, has commissioned a new basketball court for the people of Dansoman SSNIT Flat, a project which is part of a bespoke initiative aimed at making community the hub of basketball in Ghana.

“We vote for development. We vote for progress. We vote for prosperity. We vote to enhance our livelihoods and our living conditions. It doesn’t matter which party we belong to. But, if your elected representatives are working and meeting your needs and aspirations, you support and encourage them to do more for you,” the Communications Minister said at an event on Saturday, November 21, 2020, to commission the facility

“What we are seeing here today at the Dansoman SSNIT flat, I believe is the first of its kind. Most people will fight for Astro turfs and standard pitches and all that, because, football is the major sport in this country. But we can develop basketball to also be one of the big sports in this country and we are moving systematically to ensure that Dansoman becomes the headquarters of basketball in Ghana” she added.

The captain of the Dansoman SNNIT flat basketball association, Joe Nettey, expressed his profound gratitude to the constituency’s representative for birthing such initiative to enable talents who have the potentials and interest in playing the discipline. He “the commissioning of the court marked a new turning point in Dansoman basketball.”

He said the facility would forever carry the vision of “our community,” assuring that they would show their gratitude by voting massively for the NPP and the MP to continue with the good work. Joe Nettey added that, the youth of the area have yearned for such a facility for the past 35 years hence assured the MP of a Proper maintenance culture.

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Ghana Election 2020 – mybet.africa Put Out Odds

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With 19 days until election day, sportsbook giant mybet.africa has put out competitive odds on who becomes the President of Ghana.

12 presidential aspirants are vying for the ultimate position to steer the affairs of the country for the next four years come December 7, 2020.

However, mybet.africa believes the spotlight in the presidential election will focus mainly on incumbent President Nana Addo and former President John Mahama. Both aspirants have been in the high office and will want to draw on the experience to convince the electorate to vote in their favour.

But most political pollsters are of the view that the management of the economy will play a vital role in deciding who wins. The incumbency may have the advantage of having managed the economy in a better way as compared to previous John Mahama’s government with the resources available, according to some pollsters.

However, other pollsters have a strong view and believes both governments have equally managed the economy best with the resource available.

Notwithstanding the views of the pollsters, the deciding factor will rest solely on the electorate who holds the power to vote who to handle the economic issues of Ghana.

Mybet.africa has odds on the candidate to have the most votes in the first round and the likely candidate to win the election to become the President of Ghana.

Go online now to https://bit.ly/36OnbWj to place your bet on the favourite aspirant to win and walk with smiles

Source: www.mybet.africa

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Entertainment

“Lil Wayne Was Paid To Endorse Trump”, 50 Cent Alledges [WATCH]

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American Rapper 50 Cent has, in a recent interview on “the most dangerous morning show” – Breakfast Club on Power FM, alledged that, Lil Wayne received a payment for his widely trashed Trump-Republican Party endorsement.

37 minutes into the interview, 50 recalled being offered a large amount of money to attend Trump’s inauguration. According to him, the Trump team was reaching out to him—as they did with other artists ahead of the 2020 election—as part of an effort he says was aimed at attracting voters. 50 explained he was initially offered $500,000 to go to the inauguration, though that offer was later bumped up to $1 million.

Lil Wayne

“He was needing it for the same reasons you see now,” 50 said. “He participated with different artists for the Black vote. And I’m going, nah, I ain’t gonna put myself in that position. ‘Cause I don’t know what I’d have to do to recover from that.”

Asked by Charlamagne if Lil Wayne received a payment for his widely trashed Trump endorsement, 50 said he was “sure” he did. “Yeah, I’m sure. … Easily, he got paid,” 50 said.

Watch full interview here;

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