Akufo-Addo launches GHS600m loan to MSMEs today

1 min read

President Nana Addo Dankwa Akufo-Addo will today, Tuesday, 19 May 2020 launch a loan package of GHS600 million to micro, small and medium scale enterprises to support their operations amid the COVID-19 pandemic.

This will be done in collaboration with the National Board for Small Scale Industries, Business and Trade Associations as well as selected commercial and rural banks.

According to President Akufo-Addo, the facility is expected to lessen the negative impact of the coronavirus outbreak on businesses.

Nana Akufo-Addo first made this disclosure when he addressed the nation on Sunday, 5 April 2020 regarding the state of the COVID-19 pandemic in Ghana.

The loan will have a year’s moratorium and a two-year repayment period.