Mrs Kosi Yankey-Ayeh, Executive Director, NBSSI

Do not pay to access Nkosuo loan—NBSSI

Business Desk Report Business News Nov - 03 - 2020 , 03:56

The National Board for Small Scale Industries (NBSSI) has said the application process for the NBSSI/Mastercard Foundation’s Covid-19 Recovery and Resilience Programme for micro, small and medium enterprises (MSMEs) is free hence no one should pay any fee for it.

The caution comes on the back of reports that some of the applicants were being charged GH¢50 to access the GH¢90 million COVID-19 recovery and resilience programme.

“The attention of the National Board for Small Scale Industries (NBSSI) has been drawn to alleged text messages requesting for unapproved charges from NBSSI/Mastercard Foundation’s Nkosuo Program applicants.

“The alleged message states that applicants are required to pay a fee of GH¢50 to VODA cash number 0206385999 as processing fee for their Nkosuo applications,” a press release issued by NBSSI on October 26 in Accra stated.

Collection of fee

The board has not sanctioned the collection of any fee from applicants for processing of its loan applications.

NBSSI does not own any VODA cash account, it does not operate or have any other mobile number account, or it has not contracted anybody to collect fees on its behalf.

The board, therefore, cautions the general public against the payment of fees to any person, group or association requesting for such charges under the pretence of working with NBSSI or influencing the review and disbursement processes. The public is encouraged to report any such demands to the nearest Police Station.

NBSSI has duly reported the case to the National Security for its necessary attention. Attempts have also been made to report the number to Vodafone Ghana. The Telcos are encouraged to assist NBSSI in flushing out such characters.

“We wish to inform to all applicants that due diligence is currently going on. Soon, review of applications and disbursements of the Nkosuo loans will commence with the assistance of the Participating Financial Institutions (PFIs).

“We therefore urge you to exercise patience as the procedures are carried out. Our commitment to supporting Micro, Small and Medium Enterprises remains unwavering.”