Covid-19: 600m stimulus package application ends on June 20-  NBSSI

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The Executive Director of National Board for Small Scale Industry (NBSSI), Mrs Kosi Yankey Ayeh, has said the application for government’s stimulus package will end on 20th June.

President Akufo-Addo on April 19, announced the allocation GH¢1 billion Coronavirus Alleviation Programme Business Support Scheme to small and medium scale enterprises (SMEs) this month as part of efforts to deal with the effects of the Covid-19 on the business community.

Out of the 1.2 billion cedis earmarked for this Programme, GH¢600 million will be disbursed as soft loans to MSMEs, with up to a one-year moratorium and a two-year repayment period.

Additionally, selected participating banks will provide negotiated counterpart funding to the tune of GH¢400 million, making, in all, GH¢1 billion for disbursement under this Business Support Scheme, with the entire scheme set to attract some 180,000 beneficiaries across the country.

Since the announcement of the support scheme, some entrepreneurs and businesses have been waiting for the roll-out of a criteria to access the funds with some already skeptical as to the feasibility of the initiative.

Others have also urged government to ensure transparency in the disbursement of stimulus package allocated for businesses.

Speaking in an exclusive interview with Ekourba Gyasi on Atinka FM’s AM Drive, the Executive Director of National Board for Small Scale Industry (NBSSI), Mrs Kosi Yankey Ayeh, said small-scale businesses which are eligible are those with  more  than 6 employees  but  not exceeding 29 employees  while micro business should have between one to five workers.

“We want people in the rural areas to be able to apply for this package hence the June 20 deadline. A business must either be negatively impacted by the Covid-19 pandemic or producing good  items that support the fight against the pandemic to qualify for the package,” she said.

For medium scale enterprises, she said, such companies should have a workforce of between 30 to 99 employees.

According to Mrs Kosi Yankey Ayeh, for a company to benefit from the stimulus package, it should have been in operation from March 2020.


Ghana | | Vivian Adu Boatemaa