COVID-19: Akufo-Addo sets up CARES Obaatampa Programme to stimulate Ghanaian economy

The President of the Republic of Ghana, Nana Addo Dankwa Akufo-Addo, has initiated an ambitious GH₵100billion programme to revitalize the Ghanaian in the midst of the novel Coronavirus (COVID-19) pandemic.

Dubbed “The COVID-19 Alleviation and Revitalization of Enterprises Support (CARES) Obaatampa Programme, the three-year (2021-2023) initiative seeks to re-imagine and re-envision the country’s future like never before by ensuring food security, protect businesses and worker incomes, strengthen the health system, attract investments and support Ghanaian businesses.

The project is sequenced in two phases: a Stabilization Phase that runs from July to the end of the year (2020); and a medium-term Revitalization Phase that will accelerate the Ghana Beyond Aid transformation agenda.

Mr. Ofori-Atta made this observation when he appeared on the floor of Parliament on Thursday, July 23, 2020, to move the motion for approval of the Mid-Year Review of the Budget Statement and Economic Policy and Supplementary Estimate for the 2019 financial year.

The Finance Minister is enjoined by the Article 179(8) of the 1992 Constitution to seek supplementary budget approval from Parliament when the amount of money appropriated by the Appropriation Act for any purpose is insufficient or a need has arisen where there is no money to spend.

Mr. Ofori-Atta commenting further on the initiative said it was about time Ghana makes the best use of the opportunity COVID-19 has brought to the world.

“Mr. Speaker, I believe we must not waste this pandemic. It is a once in a lifetime opportunity to really effect and deliver an enduring transformational change. We are called upon to remove the unspoken limits on our ambitions and critically examine all the boundaries we imposed on ourselves. We must have courage and be audacious in repositioning Ghana and Ghanaians, not only to mitigate this pandemic, but to implement programmes that will transform our country. We should change our approach to our development and dare to do the impossible”, he noted.

Related posts

Leave a Reply