The government of Ghana has provided funds to a whopping 300,000 Small and Medium Enterprises (SMEs) to support their businesses. A special Government Funding Plan was initiated to cushion the SMEs reeling under the drastic impact of the COVID-19 pandemic.
A report from the National Board for Small Scale Industries (NBSSI) revealed that the beneficiaries of the government’s Coronavirus Alleviation Programme Business Support Scheme (CAPBuSS) (which was set up in May 2020) were selected from among 900,000 enterprises operating across the country.
The Executive Director of NBSSI, Mrs. Kosi Yankey-Ayeh involved in the funding programme said that some enterprises could not receive their share of the fund. A shareholders’ engagement meeting held on 22nd February 2021 revealed that GHC 200,000 was transferred to the beneficiaries through mobile money and 40,000 applicants failed to receive their money largely due to wrong information furnished by them. Efforts are being made to contact other deserving beneficiaries and remit the fund.