200k SMEs to benefit from government’s GHc600m stimulus package

About two hundred thousand small and medium scale enterprises (SMEs) are expected to benefit from loans from the GHc600 million government stimulus package.

Out of the number, micro-businesses who make up 80 percent, will take a chunk of the monies to be disbursed.

Executive Director of the National Board for Small Scale Industries, Ms Kosi Antwiwaa Yankey disclosed this while updating the media on work done so far in Accra.

She noted that the Board had met with the SMEs and has worked out all the modalities to help align with the directive of President Akufo-Addo.

Ms Yankey indicated that a criterion has also been outlined to allow people to apply for the loans.

To ensure transparency, she said an online portal will be created for the application. This according to the Executive Director will be launched soon.

Arrangements, Ms Yankey stated has been made for those who do not have access to technology to ensure no one is left out of the process.

“There will be education and sensitization so people will know what to do and how to go about it” she stressed.

The GHc600 million stimulus package is part of government’s GHc1.2 billion Coronavirus Alleviation Programme meant to support households and small businesses.

GHc280 million out of the GHc1.2 billion is being used to provide food for the vulnerable and free water for all Ghanaians for three months, i.e. April, May and June, while, three hundred and twenty three million cedis (GHc323 million) is being used to motivate health workers.

Source: goldstreetbusiness.com

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