The Deputy Minister of Trade and Industries, Robert Ahomka-Lindsay, today launched the Nkosuo program, a partnership between the
The Nkosuo program, with an initial commitment of GHS 90 million from the
The Nkosuo program will focus on supporting the following MSMEs and start-ups:
- MSMEs who need assistance to survive the impact of the COVID-19 pandemic.
- Businesses in growth sectors where the employment of young people, especially young women, are being significantly impacted by business operation disruptions, supply chain challenges, liquidity shortages, declining sales and profits, and business closures.
- Businesses providing services that have the potential to meet the growing demands of communities during and after the pandemic.
- Businesses that will focus on digitization to support MSMEs.
"COVID-19 has challenged the world's economic system and every country has felt its brute force. In
The Nkosuo program complements existing programs targeting the sector and is completely different from the disbursement process of current government programs, including the Government of Ghana Coronavirus Alleviation and Revitalization of Enterprises (Ghana-CARES) Program, which focuses largely on developing sustainable MSMEs as a critical part of
"The Nkosuo program will be managed by NBSSI with the assistance of participating institutions, including banks, fintechs, and business development services. Eligible Ghanaian-owned MSMEs can apply for support online or directly from any of our 180 district offices across the country. The application process is free and transparent. Through Nkosuo, the
The Nkosuo program will have a one-year moratorium and a two-year repayment period and will focus on supporting MSMEs and start-ups in sectors such as Agriculture and Agro-businesses, Water and Sanitation, Healthcare and Pharmaceuticals, Garment and Personal Protective Equipment, the Creative Arts Industry, Manufacturing, Food and Beverage among others.
To ensure accessibility and transparency of the registration and application process, NBSSI has made available an online application portal: www.nbssi.gov.gh/recoveryprogram for applications, starting 16th September, 2020.
Applicants can also call the Call Centre Helpline: 0302747777 or contact the nearest NBSSI Business Advisory Centre (BAC) within their district across the country.
The launch was also attended by representatives from Business and Trade Associations in the MSME sector.
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About the
NBSSI is the main governmental body under the
About
About the Mastercard Foundation COVID-19 Recovery and Resilience Program
The Mastercard Foundation COVID-19 Recovery and Resilience Program has two main goals. First, to deliver emergency support for health workers, first responders, and students. Second, to strengthen the diverse institutions that are the first line of defense against the social and economic aftermath of this disease. These include universities, financial services providers, businesses, technology start-ups, incubators, government agencies, youth organizations, and non-governmental organizations.
Media contacts:
NBSSI
Mrs.
Executive Director
nbssied@gmail.com
+233 242 666 795
Kweku Ahiagble
Email: rkahiagble@mastercardfdn.org
M: 0596914024
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