Stimulus package:Over 10,000 applications received

The National Board for Small Scale Industries (NBSSI) says it has received over 10,000 applications since the GHc1.2 billion stimulus package was launched by President Akufo-Addo.

Deputy Executive-Director Anna Armo-Himbson, who disclosed this said there board is expecting over 100,000 applications from both the informal and formal sectors.

Responding to a question on the categories of beneficiaries she said ‘koko sellers’, bread bakers, plumbers, ‘waakye sellers’ and other small businesses are qualified to apply for the facility.

Out of the ¢1.2 billion earmarked for this Programme, ¢600 million will be disbursed as soft loans to Micro Small Medium Scale Enterprises, with a one-year moratorium and a two-year repayment plan.

She said the interest rate which was 5% has been reduced to 3% and beneficiaries have 2-3 years to repay the loan granted them.

She also cautioned the public against fraudsters who taking advantage of the package to charge them for registration.

Anna Armo-Himbson, advised beneficiaries to use the loan for the intended purpose and pay when the payment date is due.

In order to ensure a smooth application process for all eligible candidates, application forms have been made available online on the website of the NBSSI which is

Applicants can also call the business call centre on 0302477777 or visit the nearest NBSSI business advisory centre in all the regions.

The scheme has been grouped into two, namely Adom and Anyidaso.

Smaller enterprises can access funds from the Adom Micro Loan while larger ones can benefit from the Anyidaso Soft Loan.

Beneficiaries have a one-year moratorium and two years to pay the loans.

By: Rashid Obodai Provencal

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