GUTA outlines criteria for gov’t’s GHS600m stimulus package

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National Secretary for the Ghana Union of Traders Association (GUTA), Clement Boateng, has outlined qualification criteria for government’s GHS 600M stimulus package.

President Akufo-Addo on April 19, announced the allocation of a ¢600 million stimulus package 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.

The loans form part of measures put in place by the government of Ghana to mitigate the strain on Small and Medium scale businesses across the country that has been severely hit by the coronavirus pandemic

Since the announcement of the development, some entrepreneurs and businesses have been waiting for the roll-out of a criteria to access the said 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.

In an interview with Ekourba Gyasi on Atinka FM’s AM Drive, Clement Boateng stated that although the exact amount to be disbursed to members of the association is not known, members without bank accounts, business persons without associations, Tax Identification PIN, digital address,  etc cannot benefit from the stimulus package.

He noted that GUTA is still compiling the list of  members who may qualify for the stimulus package.

Meanwhile Executive Director of the National Board for Small Scale Industries (NBSSI) Kosi Yankey-Ayeh said an online portal for accessing government’s GH¢600 million soft loan facilities will be launched for the application process to begin.

Touching on the modalities of the distribution of the loan facility,  the NBSSI boss said businesses interested in benefiting from the soft loans will have to apply through a technological portal in order to be rolled onto the disbursement platform.



Ghana | | Vivian Adu Boatemaa