Accra, May 9, 2021 - The Ghana Covid-19 Alleviation and Revitalization of Enterprises Support (CARES), also known as the “Obaatanpa” Programme, is on course in supporting citizens and enterprises with GH¢100 billion budget to transform the Ghanaian economy and to cushion it towards the realisation of the “Ghana Beyond Aid” agenda.
The first Phase of the Programme, which started in July 2020, focused on the stabilization of the economy and solidarity for all Ghanaians during the heat of the COVID in 2020. The “Obaatanpa” Programme made it possible for the government to implement major interventions like the free water, free electricity, increased pay for front-line workers and other important interventions that helped to sustain the economy during the critical moments of the pandemic.
Phase 1 also supported critical institutions and entrepreneurs to remain in business at the time the world economy was on the verge of near collapse.
Ken Ofori Atta, Minister for Finance who said this added that the Phase 2 of the Ghana CARES “Obaatanpa” Programme is currently in operation and is set to build on the achievements of Phase 1.
He was speaking during a press briefing on Sunday May 9, 2021 to apprize journalists and Ghanaians in general of efforts of government to revamp the economy.
The Minister said the current phase is targeting industrialisation through the acquisition of machinery and equipment for businesses, supporting commercial farming, providing financing and technical support for the construction industry, promoting digitization, and providing institutional and physical infrastructure that will set up Ghana’s economy to take advantage of the African Continental Free Trade Agreement (AfCFTA).
He noted that one important challenge on the African continent is low industrialisation and quality of manufactured goods that often fail to meet international standards. With the implementation of the AfCFTA, the government is poised to provide the enabling environment and the necessary support to all actors, especially the private sector to excel and support the creation of jobs and wealth for all Ghanaians.
The Minister has, therefore, called on all stakeholders to remain active and proactive to ensure that the objectives of the programme are achieved or even exceeded. He called on all citizens, businesses, banks, businesses associations and all other stakeholders to join hands towards the realisation of the “Obaatanpa” Programme objectives by 2023. END.