The Government of Ghana established the Coronavirus Alleviation Programme (CAP), as part of measures to effectively manage social and economic recovery in Ghana. An amount of GH¢1.2 Billion was allocated 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.”
NBSSI is a governmental agency under the Ministry of Trade and Industry with the institutional mandate to promote and develop Micro Small and Medium Enterprises (MSMEs) in Ghana. It has a strong presence in 178 districts in Ghana.
Many MSMEs in Ghana have been adversely impacted by the Pandemic. These businesses are believed to contribute about 70% to Ghana’s Gross Domestic Product (GDP) and account for about 92% of businesses in Ghana (ISSER – University of Ghana, 2015).
How to Apply
Step 1
Eligible candidates can register via our web portal, phone 0302747777, our BACs, or USSD code.
Step 2
A Unique Reference Code will be sent to you via text (SMS) and email after registration.
Step 3
Wait for a second notification via text (SMS) and email to continue with the application.
Step 4
Use the Unique Reference Code received in Step 2 to continue with the loan application.
Eligibility Criteria
- 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.
The following target groups are encouraged to apply:
- Women-owned businesses
- Persons With Disability (PWDs)
The following groups are not eligible to apply:
- Public sector businesses
- Non-profit organizations
*For an applicant with more than one business, only one qualifies to access the loan under CAP Business Support Scheme.
Target sectors include:
- Healthcare and Pharmaceuticals
- Manufacturing
- Agri-businesses and Agro-businesses – food and beverages incl.
- Water and Sanitation/PPEs
- Tourism and Hospitality
- Education
- Textiles and Garments
- Commerce/Trade
- Other Services
Minimum Eligibility Requirements
Might vary by Micro and Small and Medium Enterprises. Considering that the informal sector are usually Micro businesses:
- Micro, Small and Medium Enterprises (self- employed, limited liability, sole proprietorship, partnership, joint ventures)
- Must be located in Ghana
- Enterprises running for at least six months as at March 2020
- Registered businesses/enterprises – RGD/District Assembly (Micro/Informal)
- Tax Identification Number (TIN)
- Businesses/Enterprises that have been adversely impacted by COVID-19 and can show evidence of impact.
- Businesses/Enterprises that are producing goods or services that support the fight against COVID-19
- Member of an association, a trade group or registered with NBSSI
- Businesses with between 1 – 99 employees
Minimum Requirements
Might vary by Micro and Small and Medium Enterprises. Considering that the informal sector usually comprises of Micro businesses.
- Tax Identification Number (TIN) for all MSMEs
- ID Cards – Passport, Voter ID, and Driver’s License
- Passport Picture – Electronic/Hard Copy
- Annual Sales Information