Gh¢1 billion CAP business support scheme launched for MSMEs

Gh¢1 billion CAP business support scheme launched for MSMEs

President of Ghana, Nana Addo Dankwa Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has officially launched the GH¢1 billion Coronavirus Alleviation Programme (CAP) Business Support Scheme

The launch of the CAP Business Support Scheme which was held on Tuesday, May 19, 2020 at the Jubilee House is aimed at funding selected banks to micro, small and medium-scale businesses around the country. 

At the launch, the President explained that all economies around the world have had their share of the outbreak of the Coronavirus pandemic of which Ghana is a part. He stated that the impact of the pandemic has led to reduced productivity, job losses, and steep decline in revenues for Government, businesses, households and individuals in Ghana. 

According to the President, micro, small and medium-scale enterprises (MSMEs), which account for 70 per cent of the country’s gross domestic product and represent some 92% of businesses are the most affected in Ghana.


“This amply highlights the important role MSMEs play in the growth and development of our economy, necessitating the special attention of Government,” he said. 


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.” 


A breakdown of the 1.2 billion cedis allocated for this Programme shows that, GH¢600 million will be disbursed as soft loans to MSMEs, with up to a one-year moratorium and a two-year repayment period. Government’s rate of interest on the GH¢600 million facility is three percent (3%). 

Also, the 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.

The Scheme is to be managed by NBSSI and supervised by a loans committee. This team is comprised 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. 


“Disbursement of the funds will be effected through the participating banks. Transparency and accountability will be the hallmarks of the operation of the Scheme,” he added. 


President Akufo-Addo also stated that the Scheme is targeted at MSMEs in both the formal and informal sectors, which have been impacted by the economic recession following the outbreak. He indicated that with MSMEs in growth sectors that need extra capital to expand their business to meet the growing demand for COVID-19 related goods and services are 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.

CAP launch

Application forms have been made available online on the website of NBSSI, which is 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 stressed that for one to benefit, one must either be self-employed, sole proprietor, 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 wisely,

“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.”