President-elect of the Republic of Ghana, Nana Addo Dankwa Akufo-Addo says his topmost priority following his 2020 presidential election victory is to get the country back in top shape.
According to him, the Covid-19 pandemic has dealt the country’s economy and lives of its citizens a heavy blow which must be effectively remedied.
Delivering his victory speech at his Nima residence in Accra, the President-elect said, “My immediate task will be to continue with the process of reversing the effects Covid-19 has had on our economy and our lives and put the nation on course for full economy recovery and development.”
He added that, “Before the pandemic struck, Ghana in recent years had one of the fastest-growing economies in the world. I give you my word we will regain that reputation.”
The government in recent months has been undertaking several Coronavirus Alleviation programmes to reverse the effects of the Covid-19 pandemic on the country’s economy and the lives of its citizens.
These include government’s Anidaso Soft Loan and Adom Micro Loan which form part of government’s GH¢1 billion Business Support Scheme initiated to help micro-businesses and other medium size businesses to thrive despite the pandemic.
Also the Nkosuo programme which is a partnership between government and the Mastercard Foundation Covid-19 Recovery and Resilience Programme was set up to provide financial assistance, in the form of grants and soft loans, via participating institutions, including banks, fintechs, mobile lenders, NGOs, and Business Development Services.
The amount and type of financial support that will be provided to eligible, qualified MSMEs, both in the formal and informal sector, will vary depending on the size of the enterprise, their need, and repayment capacity.