NBSSI engages stakeholders on stimulus package for small scale enterprises

The National Board for Small Scale Industries (NBSSI) has held a meeting with relevant associations to discuss government’s Coronavirus Alleviation Programme Business Support Scheme for the private sector.

The meeting was to give an update on the current status of the GHC600 Million stimulus package announced by President Nana Addo Dankwa Akufo-Addo to support the Micro, Small and Medium Enterprises (MSMEs) impacted by the COVID-19.

The Executive Director of NBSSI, Mrs Kosi Yankey-Ayeh, said the engagement afforded the associations the opportunity to make their inputs into the Scheme.

Following the announcement by the President, the NBSSI had had series of engagements with various stakeholders such as financial institutions, trade groups and associations across all the targeted sectors to ensure that they aligned on the products to be rolled by the Scheme to achieve a common goal.

"NBSSI is the lead Agency under the Ministry of Trade and Industry (MOTI) that supports, promotes, develops and strengthens MSMES in Ghana,” she said.

“The Board is set to commence the application and disbursement of the GHC600 Million, which will be used to support MSMEs. An online portal has already been developed for the application process on the webpagenbssi.gov.gh/capsupport," she said.

Mrs Yankey-Ayeh said the NBSSI had also created the opportunity for those who were not technology savvy or had limited access in remote districts to be able to partake in the Business Support Scheme via downloadable application forms.

"In collaboration with other partners we will start disbursement soon. The general public is advised to get themselves prepared to enable a smooth application process," she added.

Mr Robert Ahomka-Lindsay, the Deputy Minister of Trade and Industry, said the MSMEs played a major role in the business sector of Ghana since they formed over 70 per cent of the economy.

“We can know where you are, what some of the issues are, what some of the key activities that you face as challenges, and most importantly help you along the development times, because you are the largest part of our economy," he said.

He said the Government would continue to provide the necessary conditions to help revive businesses in the wake of the pandemic.