More than 120,000 receive MSMEs loans – NBSSI

More than 120,000 micro, small and medium-sized enterprises (MSMEs) owners have so far received the special fund set up by the government to cushion businesses from the impact of the coronavirus pandemic.

Mrs Kosi Yankey-Ayeh, the Executive Director, the National Board for Small-Scale Industries (NBSSI), who announced this, said beneficiaries include recipients of the Adom Micro-Soft Loans for micro-enterprises and the Anidaso targeted at small and medium enterprises.

The stimulus package, launched by President Nana Addo Dankwa Akufo-Addo on May 19, was designed to support micro, small and medium-sized enterprises.

Mrs Yankey-Ayeh was speaking on Monday during the presentation of 33 computers and printers to the Association of Small-Scale Industries (ASSI) for use at the Association’s regional offices to enhance the ability to gather and update data of members to help in policy formulation.

The donation was part of the CAP Business support Scheme to strengthen the growth of small and medium enterprises through the various Associations.

Mrs Yankey-Ayeh said data was key in the NBSSI’s quest to support business associations to enhance the capacity of members.

She said the NBSSI would assist ASSI to further its mandate and contribute towards the socio-economic growth of the nation.

Mrs Yankey-Ayeh assured applicants, who are yet to receive the loans, to exercise restraint.

Mr Saeed Moomen, National President of the ASSI, received the items and described the donation as a timely intervention.

He said Small and Medium Enterprises (SMEs) were key to the growth of the economy but needed support to enhance efficiency.

He expressed gratitude to the NBSSI for the support to enhance the operations of the regional offices and pledged that the equipment would be maintained.

The ASSI is the umbrella body for the micro sector in the country, and mainly provides business development assistance and support to its members.  Currently, there is an SME policy, which has been developed and validated, to provide the right environment for SMEs to thrive.

Some recipients testified about the support the loans had provided for their businesses.

Source: GNA