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More than 120,000 MSMEs have received loans – NBSSI

In May this year, President Akufo-Addo launched a GHC600 million stimulus package to cushion businesses from the negative impact of the coronavirus disease

Ghana News Agency (Accra) – More than 120,000 micro, small and medium-sized enterprise (MSME) owners have so far benefited from the special fund set up by the government to cushion businesses from the impact of the coronavirus disease, Kosi Yankey-Ayeh, executive director of the National Board for Small-Scale Industries (NBSSI), has said.

She said beneficiaries include recipients of the Adom Micro-Soft Loans for microenterprises and the Anidaso package, targeted at small and medium-sized enterprises.

The stimulus package, launched by President Nana Addo Dankwa Akufo-Addo on 18 May was designed to support micro, small and medium-sized enterprises in the country.

Yankey-Ayeh was speaking during the presentation of 33 computers and printers to the Association of Small-Scale Industries (ASSI) to enhance its ability to gather and update members’ data to help in policy formulation. The donation was an initiative of the Coronavirus Alleviation Programme Business Support Scheme (CAPBuSS) to strengthen the growth of small and medium-sized enterprises through various associations.

Mrs Yankey-Ayeh said that data is key in the NBSSI’s quest to support business associations to enhance the capacity of members.

She said the NBSSI would assist ASSI to further its mandate and contribute towards the socio-economic growth of the nation.

Loans are coming

Yankey-Ayeh reassured applicants who are yet to receive a loan, advising them to exercise restraint.

Saeed Moomen, national president of the ASSI, received the items and described the donation as a timely intervention. He said small and medium-sized enterprises (SMEs) are critical to the growth of Ghanas economy but need support to enhance efficiency.

He expressed gratitude to the NBSSI for the support it has given to enhance operations of regional offices and pledged that the NBSSI would maintain the equipment well.

The ASSI is the umbrella body for the micro-enterprise sector in Ghana. It mostly provides business development assistance and support to its members. There is an SME policy, which has been developed and validated, to provide the right environment for SMEs to thrive.

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Source
Ghana News Agency
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