No TIN, no stimulus package – NBSSI boss speaks about GHC600 million soft loan
- Kosi Yankeh-Ayeh, the Executive Director of the The National Board for Small Scale Industries (NBSSI) has shed light on qualifications for the GHC600 million soft loan
- According to her, the NBSSI would make the package available to SMEs that can produce Tax Identification Numbers (TIN)
- She added that the NBSSI would be apolitical with regard to the disbursement of the funds
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The National Board for Small Scale Industries (NBSSI) has revealed that the GHC600 million stimulus package announced by President Akufo-Addo for Small and Medium Scale Enterprises (SMEs) is only for businesses that have Tax Identification Numbers (TIN).
According to NBSSI’s Executive Director, Kosi Yankeh-Ayeh, their policy on the distribution of the package is very clear: ‘No TIN numbers, No stimulus’
Per a report by 3news.com, she went ahead to assure the general public that her firm will be fair in the distribution of the GH¢600 million package.
Source: UGC
READ ALSO: COVID-19: Over 2 million Ghanaians to be unemployed soon - NBSSI boss
Yankeh-Ayeh further indicated that there would be transparency in the process as external auditors would examine the records kept.
For that reason, she went on, Ghanaians have no reason to fear being sidelined or refused access to the package if they meet the requirements.
YEN.com.gh understands that her comments come after the Chief Executive Officer (CEO) of Dalex Finance, Ken Thompson, argued that the NBSSI is too political to handle the task.
He explained that the NBSSI “suffers from the legacy of politics, it suffers from money going out and not being able to account because it was done on political basis.
“Why are we not working with the associations of non-bank financials? I have a problem with that?”
He therefore suggested that the GHC600 million should be given to a financial institution to disburse it.
YEN.com.gh earlier reported that President Akufo-Addo has revealed that small and medium scale businesses in Ghana would benefit from a GHC600 million soft loan package.
According to him, the move is to protect such businesses from the economic impact of the coronavirus.
As part of a nationwide address on Sunday, April 5, 2020, he explained that the plan is to ensure that Ghanaian businesses are still functioning even though industries are affected by the pandemic.
READ ALSO: Chamber of Commerce raises concerns about GHC600 million soft loan package; says it is too small
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Source: YEN.com.gh