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    NPA encourages consumers to lodge complaints of foul play at the pump for redress

    Banks must improve their systems to check rising spate of financial fraud – e-Crime Bureau

    IMF likely to reject program with wholesale gov’t subsidies – Prof. Quartey

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    Societe General Ghana partners AGF to provide financing solutions for SMEs

    IMF programme won’t affect free SHS, other flagship programmes – Gov’t

    NPA encourages consumers to lodge complaints of foul play at the pump for redress

    Banks must improve their systems to check rising spate of financial fraud – e-Crime Bureau

    E-Levy won’t be terminated because of IMF bailout – Gov’t assures

    Node 8, HTU hold first edition of Node X in Ho

    IMF likely to reject program with wholesale gov’t subsidies – Prof. Quartey

    ‘Seeking IMF bailout doesn’t mean e-levy has failed’ – Oppong Nkrumah

    ‘Our IMF negotiations will be in best interest of Ghanaians’ – Oppong Nkrumah

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    Societe General Ghana partners AGF to provide financing solutions for SMEs

    NPA encourages consumers to lodge complaints of foul play at the pump for redress

    Banks must improve their systems to check rising spate of financial fraud – e-Crime Bureau

    IMF likely to reject program with wholesale gov’t subsidies – Prof. Quartey

    Golden Tulip Hotels not sold; leased for 12 years – Management

    Tullow Ghana awards KNK contract to Petrofac as part of transformation project

    We did no wrong in sale of 260 metric tonnes of slop oil – TOR

    Increase investments in digitisation platforms to ensure safe trade transactions under AfCFTA – BoG

    Fuel prices to go up as NPA announces restoration of UPPF margin

  • TECHNOLOGY

    Node 8, HTU hold first edition of Node X in Ho

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

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    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

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We’ll use financial institutions to disburse GHS600m SME loan – NBSSI

byNerteley Nettey
May 18, 2020
in Banking And Finance, Local Economy, Top Stories
Executive Director of NBSSI, Kosi Yankey Ayeh.

Executive Director of NBSSI, Kosi Yankey Ayeh.

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The Executive Director of the National Board for Small Scale Industries, NBSSI, Kosi Yankey, has explained that financial institutions will be used to disburse the 600 million cedis stimulus package allocated to support small and medium scale enterprises.

Following the negative impact of COVID-19 on businesses and individuals, the amount has been set aside by government to mitigate the impact on small and medium scale enterprises.

However, there had been suggestions by some stakeholders that financial institutions were in a better position to disburse and recover the monies than the NBSSSI.

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Reacting to these concerns, the Executive Director of the NBSSI, clarified that financial institutions will actually be engaged to disburse the funds.

“I think that nobody ever said it wasn’t going through financial institutions. It is important for us to look at this holistically and realize that when you have a situation like this, we can’t look at individualistic views based on our interest. We need to look at it holistically. First of all NBSSI is not disbursing directly.  It is going through the financial institutions. So, the financial institutions are involved; it is important. We are working with the ARB APEX Bank because they also have rural banks across the nation. So the disbursement and the analysis of the loan process will be done by the financial institutions,” she said.

She added that the modalities for applying for the funds have been activated through an electronic portal that will assess the impact of COVID-19 on businesses.

“It is up to the businesses or the enterprises to highlight and show what it is, and how they have been impacted. I think its clear most people have been impacted so some based on their financials you can look at it in terms of even their bank statements. If you even juxtapose 6 months from when COVID began or in this period you will be able to tell that this business has been greatly impacted. So those are some of the things we would utilize,” she added.

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