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NBSSI denies charging fees for CAP BuSS

The CAP BuSS is intended to give financial support to micro, small and medium-sized enterprises (MSMEs) under the government’s post-COVID-19 economic recovery interventions

The National Board for Small-Scale Industries (NBSSI) has denied charging applicants any fees before disbursing payments through the Coronavirus Alleviation Programme Business Support Scheme (CAP BuSS).

It has therefore urged the public to treat such reports with contempt, cautioning applicants against paying fees or charges to any self-appointed intermediary.

In a statement, Kosi Yankey-Ayeh, executive director of the NBSSI, said the board has not engaged any group, association or individual to discuss, collect or facilitate the collection of any charges on its behalf.

Wrong charges

The statement said the board has engaged the Ghana National Council of Private Schools (GNACOPS) in relation to certain issues and even queried the council about a 4% charge. It maintained that the charge on GNACOPS members is wrong and unacceptable.

By this, the general public is hereby being requested to disregard any claims by GNACOPS that the board is demanding an extra 3% in fees from members in respect of loans being granted under the CAP BuSS.

“Applicants are therefore cautioned against the payment of fees or charges to any intermediary, be it an association, group or individual. We encourage applicants to direct all concerns and questions to the NBSSI public relations unit,” the NBSSI statement said. “The public is also encouraged to report any person engaging in this act to the nearest police station.”

Economic recovery

The statement comes on the heels of media reports and queries by applicants regarding requests by some trade and business associations for fees from members in order to access the soft loans scheme.

The GHC600 million CAP BuSS support scheme for MSMEs is one element of the government’s post-COVID-19 economic recovery programme.

CAP BuSS is being administered by the NBSSI. It offers “Adom” microloans and “Anidasuo” soft loans, as well as some level of technical support for MSMEs in the much-needed economic resurgence.

It has an interest rate of 3%, a one-year moratorium and a repayment term of between two and three years.

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Business & Financial Times
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