Over 1,500 account holders are yet to assess coronavirus funds – GEA boss

Kosi Yankey Ayeh 23 Executive Director of the GEA Kosi Yankey-Ayeh

Sat, 12 Jun 2021 Source: www.ghanaweb.com

• The Executive Director of GEA said over 1,500 accounts are yet to access the monies disbursed into the accounts

• According to her, the GEA should not just be seen as an agency that gives out money but rather as an agency that provides technical support to businesses

• She also indicated that the Agency will consider mechanisms to redistribute this support to other applicants

Some businesses which were granted financial support to alleviate the impact of the novel coronavirus pandemic are yet to assess their funds, according to the Ghana Enterprises Agency (GEA).

Data provided by some banks indicated that many of the accounts through which monies were supposed to have been disbursed have not seen any activity yet.

The Executive Director of the GEA Kosi Yankey-Ayeh speaking on PM Express on JoyNews monitored by GhanaWeb said monies have been paid to the respective bank accounts but the bank account holders are yet to go for their monies.

“When we reviewed, we realize some people have never gone to the banks to go and take their funds. They had applied, they had been successful, the funds have been given to the banks to reach out to them but for some reason or the other… From one bank there were about 1,500 accounts that have not been opened or taken over because the people didn’t go for the funds,” she said.

She indicated that, although some applicants failed to assess their monies, GEA has successfully disbursed funds to about 300,000 people since the initiative started.

Kosi Yankey-Ayeh also indicated that the Agency will consider mechanisms to redistribute this support to other applicants who may need the money urgently.

The GEA Executive Director said her outfit provides the support the Small and Medium-scale enterprise (SME) owners need to keep their businesses running in the wake of the pandemic. “Most people see the former National Board for Small Scale Industries (NBSSI) and I am sure people are thinking we should be a funding agency. We are not the funding agency,” she reiterated.

She said the support comes in the form of technical and some instances facilitate or provide access to finance.

She added that instead of being seen as a funding agency, she preferred that the Agency “be seen as a total 360 support given to businesses when the need is there and when we have the resources to provide that kind of support.”

Government, at the peak of the pandemic, rolled out the Coronavirus Alleviation Programme Business Support Scheme (CAP BuSS) Economic Stimulus in 2020 to support affected businesses

Source: www.ghanaweb.com