NBSSI Extends Government’s Stimulus Package for 6 more days

The National Board for Small Scale Industries (NBSSI), managers of government’s stimulus package under the auspices of the Coronavirus Alleviation Programme (CAP) Business Support Scheme (BUSS) has announced an extension of a six-day grace period for the deadline of applications effective June 20, 2020 to June 26, 2020.

The move will enable some Micro Small and Medium Enterprises (MISMEs) who had special challenges completing their forms ample time to submit their applications for processing.

Executive Director of NBSSI, Kosi Yankey-Ayeh at a news conference in Accra said the gesture will create a platform for applicants to address complaints and errors they encounter on the digitized application portal. She also explained that her outfit is analyzing the data of applications and addressing the challenges.

She further stated that the extension of date will also enable NBSSI to engage the Ghana Revenue Authority (GRA) to facilitate the TIN acquisition for applicants adding that NBSSI has deployed additional IT personnel to support applicants with wrong credentials based on specific needs.

Throwing more light on the extension, Madam Yankey said it will gave management of the NBSSI the opportunity to mop up paper applications from cut of communities and rural areas with no internet for processing onto digitized system.

Giving an overview of registered applicants as at June 18, 2020 the Executive Director said 450,000 representing Micro, Small and Medium Enterprises (MSMES) have registered on the programme. Of the number, about 75 percent have successfully completed their applications, revealing further that the online portal has uncovered over 5,200 fraud alerts as a result of multiple applications with same mobile number or bank account details.

“Applicants who registered via the USSD code on the various mobile networks represents 58.5%, while the remaining 41.2% represents registration done decently on the web portal”, she said, adding that, gender dis-aggregation for applicants constituted 66 percent females who requested for 47% of total value of funds requested as male applicants stood at 34% representing 52.6% of total value of funds.

The Coronavirus Alleviation Programme (CAP) Business Support Scheme was instituted by the Government of Ghana to provide support to MSMEs that were negatively impacted by the Coronavirus Pandemic. Launched on May 19, 2020 by President Nana Addo Dankwa Akufo-Addo, the Programme constitutes one of a kind and implement in record time to ensure MSMEs, which are the backbone of the economy, access the fund in a timely manner to sustain their business.

By Ben Laryea