The GHS600 million stimulus package indicated to cushion organizations from the unfavorable impact of the coronavirus illness (COVID-19) is to be released by President Akufo-Addo today Might 18, 2020.
Disbursement of the stimulus package is expected to begin with May 25, after applicants meet the requirements and eligibility criteria by the National Board for Small Scale Enterprises (NBSSI), the firm with oversight duty for the micro little and medium business (MSME).
The fund, categorized in Anidaso and Adom (unique) loans, is to offer between GHȼ1,000 and GHȼ150,000 with a 5 percent rate of interest to businesses under the MSME space.
A Deputy Minister of Trade and Market, Robert Ahomka-Lindsay, who made this known at a meeting to quick leaders of organization associations and trade groups about the bundle in Accra, observed that the launch would also make it possible for the NBSSI to open for application on May 19.
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Ahomka-Lindsay observed that in Ghana, more than 80 percent of all registered companies fall in the category of MSMEs with a comparable percentage of the commercial sector making it into the classification.
“A strong MSME sector is important for the growth of every economy, advanced or developing. And so it is important for the government to help them to grow.
“We should be clear that the GH¢600 million stimulus package will not resolve all the challenges MSMEs are confronted with in the country but it is a good short-in-the-arm initiative to help them to begin the journey towards growth,” he added.
