NBSSI prepares to disburse stimulus package

The government CAP Business Support Scheme (CAP BuSS) has received over 170,000 successful registrations on the online portal with about 65 per cent of this number successfully completing applications.

The National Board for Small Scale Industries (NBSSI) in a press release issued on June 8 in Accra, indicated that it was still undertaking due diligence on the successful applications,  and that disbursement would begin soon.

“In coordination with relevant participating financial institutions, the necessary due diligence is underway to ensure our hardworking entrepreneurs in micro, small and medium enterprises (MSMEs) sector that are the backbone of the economy receive requisite assistance in these hard times,” the Executive Director of NBSSI, Mrs Kosi Yankey-Ayeh was quoted  in the release.

Data released

According to data released from the CAP BuSS online portal on June 5, 2020, Ashanti Region has recorded the highest number of applications at 28.6 per cent of total applications.

This was followed by Central Region with 13 per cent; Greater Accra – 12 per cent; Eastern Region – 11.5 per cent, followed by other regions.

Reasons for the differences in applications have been partly attributed to population distribution, and the concentration of major economic centres in Ghana where MSMEs operate.

To further ensure all eligible but disenfranchised MSMEs easily access the CAP BuSS, selected staff of NBSSI and members of the CAP BUSS Steering Committee are conducting nationwide outreach and monitoring visits to selected trade and business associations and market centres across the country.

“Recognising that majority of MSMEs in Ghana (80 per cent) fall within the informal sector and will require some support to fill out the online application form, our NBSSI Regional Offices and 180 Business Advisory Centres across Ghana have in the last two weeks been working diligently, and in collaboration with the respective metropolitan, municipal and district assemblies (MMDAs) have set up help desks to support applicants with data entry,” Mrs Yankey-Ayeh said.

“The nationwide outreach and monitoring visits are for purposes of scalability and to ensure all other disadvantaged groups easily access the Programme and have relevant information to work with, as well as give NBSSI insight into realities and challenges of our intervention,” she added.

CAP launch

The Coronavirus Alleviation Business Support Scheme, which was launched on May 19, 2020, President Nana Addo Dankwa Akufo-Addo, forms part of the Government of Ghana’s Coronavirus Alleviation Programme (CAP) intended to provide support to MSMEs negatively impacted by the Coronavirus Pandemic.

The management of the CAP BuSS programme is being facilitated by NBSSI, a government-subvented agency under the Ministry of Trade and Industry (MoTI), mandated by an Act of Parliament to grow, strengthen and support MSMEs in Ghana.