President of the Ghana Hotels Association, Dr Edward Ackah-Nyamikeh, has asked the National Board for Small Scale Industries (NBSSI) to publish the list of the successful applicants for the government’s stimulus package for small and medium scale enterprises in Ghana in the wake of the COVID-19 pandemic.
He said the publication will deal with the fears that the stimulus is likely to be distributed along political lines.
President Nana Addo Dankwa Akufo-Addo has launched a One billion Ghana Cedi stimulus package to provide relief to Micro, Small and Medium Enterprises (MSMEs), hard-hit by the novel coronavirus pandemic.
The COVID-19 Alleviation Programme (CAP) Business Support Scheme, to be administered by the National Board for Small Scale Industries (NBSSI) is to help lessen the effects of the economic crisis, like no other, caused by the pandemic.
It would provide additional capital for business expansion to meet the demand for respiratory illness-related goods and services.
At a ceremony at the Jubilee House, President Akufo-Addo said the flu-like virus had exacted a huge toll on world economies, including that of Ghana – reduced productivity, job losses and steep decline of revenue for government, businesses, households and individuals.
“We are determined to protect as many jobs as possible and to help as many businesses as possible get back on their feet.”
Out of the amount earmarked for the scheme, GH¢600 million would be disbursed as loans to MSMEs with a one-year moratorium and a two-year payment period with three per cent interest.
Additionally, selected banks that would participate in the programme would provide a negotiated counterpart funding to the tune of GH¢400 million to be disbursed under the scheme President Akufo-Addo said.
Dr Ackah-Nyamekeh, speaking on the Travel Pass programme on 3fm hosted by Francis Doku, said : “I wish that the transparency that the NBSSI has exhibited so far in terms of the number of applicants, in terms of the application process and all, they should exhibit the same thing during the disbursement.
“If I apply for GHS50,000 and you decide to give me GHS20,000 or more there must be some justification for that decision.
“Is it also possible to publish the list of those who benefit from this, if it is not in the dailies then you can use the credit reference bureau for that transparency because a lot of people have talked about political interference and all that.”