GH600m stimulus a great start – NBSSI boss

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The GHS600million stimulus package earmarked to support businesses by the Government of Ghana during the period of the coronavirus outbreak is great start, Ms Kosi Yankey-Ayeh, Executive Director of the National Board for Small Scale Industries (NBSSI), has said.

The Ghana Union of Traders Association (GUTA) and some economists have indicated that the amount earmarked by the government is too small to cater for businesses in this period.

But speaking on the Sunrise Show on 3FM hosted by Alfred Ocansey on Thursday May 14, Ms Yankey-Ayeh said : “There will never be enough money . The GHS600 million, I think is a great start. NBSSI has also worked with partners and raised other funding as well to support the fight against covid-19.”

She also assured that the NBSSI will be fair in the distribution of the GHS600million to small and medium scale enterprises (SMEs) to ease the pressure on them following the COVID-19 outbreak,

She said explained that external auditors will be engaged to audit the disbursement to ensure transparency in the exercise.

Several people including the CEO of Dalex Finance Mr Ken Thompson have said the NBSSI package is too political to handle this assignment,

Mr Thompson suggested that the money should rather be given to financial institutions to handle and not the NBSSI.

He told local television channel TV3 Monday May 11 that: “It suffers from the legacy of politics, it suffers from money going out and not being able to account because it was done on political basis.

“Why are we not working with the associations of non-bank financials? I have a problem with that.”

But told show host Alfred Ocansey that : “ I can assure that there will be no partisan politics in this and the reason why we say that is that this is open and that is why we brought technology in.

“There will be external auditors as well. We don’t even know the beneficiaries, it is open so let us allow people to apply. What I challenge people to do is to actually show up with the data that is needed and fill the right data.”

She added : “People ask why NBSSI in this. NBSSI we have been doing this for a long time but nobody has talked about politics but now that people see or hear of it then they assume.”

Source: Laudbusiness.com/Ghana

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