Business

Tailors and dressmakers association receive CAP support

More than 500 members of the Ghana National Tailors and Dressmakers Association have received loans from the “Adom Loans” being disbursed under the government’s GH₵1billion Coronavirus Alleviation Programme Business Support Scheme (CAP BuSS).

The programme has already disbursed GH₵135 million to beneficiaries, with loan value ranging from GH₵500 to GH₵10, 000 per beneficiary, and the beneficiaries comprise 72 per cent females and 27 per cent males.

This was contained in a statement issued in Accra yesterday by the National Board for Small Scale Industries (NBSSI), which is implementing the scheme in collaboration with participating financial institutions (PFIs) and selected telecommunication companies.

Meanwhile the receipt of the funds by the dressmakers across the country has been confirmed by the President of the association, Ms Joana Eshun, the statement said.

“Our members numbering over 500 have duly received the Adom Loans. Thus, on behalf of my association, I wish to thank the President through NBSSI for providing this timely relief to sustain our businesses,” she was quoted.

Ms Eshun, according to the press statement appealed to the NBSSI to extend the support to more of their members, saying, “It is a panacea to touch many more lives affected negatively by the Coronavirus pandemic.”

It said beneficiaries of the scheme were engaged in commerce and trade, dressmaking, agribusiness and agro-processing, manufacturing, food and beverages, textile and garments, transportation, and tourism and hospitality. 

CAP BuSS), launched by  President Nana Addo Dankwa Akufo-Addo in May 2020, forms part of his government’s economic relief strategy to support Micro, Small and Medium Enterprises (MSMEs) across the country affected by the impact of the pandemic.

It offers two main products – the ‘Adom’ micro soft loans and ‘Anidasuo’ soft loans, as well as a technical support component for MSMEs.

The GH₵1-billion stimulus package comprises GH₵600 million in soft loans, and the remainder as matching funds from the participating financial institutions.

BY TIMES REPORTER

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