GHC1 billion package: NBSSI reveals over 170,000 businesses have applied for support

- An estimated 170,000 businesses have so far applied for the GHC1 billion stimulus package mobilised for Micro, Small and Medium Enterprises (MSMEs)

- The highest number of applications came from the Ashanti Region, which represented 28.6%

- It was followed by the Central Region with 13%, the Greater Accra has 12% applications and the Eastern Region with 11.5%

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The National Board for Small Scale Industries (NBSSI) has revealed that more than 170,000 businesses have applied to access the GHc1 billion package announced by President Nana Akufo-Addo.

This represents a huge jump from the 14,000 businesses that submitted applications in the first week.

According to NBSSI’s executive director, Kosi Yankey-Ayeh, her outfit has teamed up with selected financial institutions to ensure that Ghanaian Micro, Small and Medium Enterprises (MSMEs) have access to the funds.

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Information available shows that the Ashanti Region recorded the highest number of applications, representing 28.6%.

Per a report by citibusinessnews.com, this is followed by the Central Region with 13%. The Greater Accra has 12% applications while Eastern Region has 11.5%.

YEN.com.gh has learned that selected NBSSI staff and other stakeholders are conducting a nationwide outreach and monitoring visits to selected trade and business associations and market centers across the country.

An earlier report by YEN.com.gh shows that President Akufo-Addo launched the GHC1 billion Coronavirus Alleviation Programme (CAP) Business Support Scheme for Small and Medium Scale Enterprises (SMEs) in Ghana.

The Scheme, outdoored on Tuesday, May 19, 2020, is the product of a collaborative effort between the government and selected banks.

According to the president, COVID-19 has affected economies all over the world and has led to reduced productivity, job losses, and a steep decline in revenues for government, businesses, households and individuals in Ghana.

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Source: YEN.com.gh