New Economy Booster COVID-19 economic recovery program comes to an end

New Economy Booster program closing event

The New Economy Booster program (NEB), which has supported businesses focused on solving Covid-19 related socio-economic problems in Ghana, wrapped up yesterday, 16 April 2021.

Since its launch in September last year, the social enterprise project has supported over 200 advanced and early-stage ventures, startups, non-profit organizations, and initiatives in Ghana.

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New Economy Booster and COVID-19 pandemic

Supporting social entrepreneurs make sustainable, resilient and inclusive gains towards socio-economic recovery

BASICS International is a social enterprise helping community youths out of poverty and achieve social freedom. They have made 2.5 million face masks in Chorkor since the start of the COVID-19 epidemic.

The evolving COVID-19 pandemic from the onset has impacted nearly every known component of Africa’s economies and societies.

In 2020, the World Bank announced that sub-Saharan Africa’s Growth would fall -3.3%, and this would push the region into its first recession in 25 years.

In Ghana, businesses were affected such that the Statistical Service, World Bank and UNDP jointly reported that companies reduced wages for over 770,000 workers, and laid off about 42,000.

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