By Business Ghana
Mastercard Foundation has announced the creation of an Emergency Programme to support micro-small-and-medium-sized enterprises (MSMEs) and start-ups in Ghana affected by the Coronavirus pandemic.
It has entered partnership with the National Board for Small Scale Industries (NBSSI), an agency under the Ministry of Trade and Industry (MOTI), to ensure the success of the programme
The program, known as the NBSSI Mastercard Foundation Recovery and Resilience Program for MSMEs, has an initial commitment of approximately GH¢90 million from Mastercard Foundation and NBSSI, and is in line with government’s support for Ghanaian MSMEs and will receive additional investment from other donors and institutions.
A statement issued in Accra said the Program would focus on supporting MSMEs who need support to survive the COVID-19 pandemic and businesses in growth sectors where the employment of young people, especially young women, will be negatively impacted as a result of business operation disruptions, supply chain challenges, liquidity shortages, declining sales and profits, and business closures.
Other beneficiaries would include businesses providing services that will be in demand during the pandemic and that have the potential to grow and positively impact communities affected by COVID-19 and businesses that will focus on digitization to support MSMEs.
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