A Non-Gorvernmental Organisation, Financial Literacy Foundation Africa has called on government to capitalise on the opportunity Covid-19 has presented to formalise the informal sector of the country.
In a statement issued by the Foundation on Wednesday, government should supervise the National Board for Small Scale Industries (NBSSI) to leverage the Covid-19 global economic to structure the marginalised sector.
According to the Foundation, this will do away with the time immemorial narrative of no-data on the informal sector’s micro, small and medium enterprises.
“We urge the government through the NBSSI to use the same importance it puts on finding funding for all expedient developmental needs, even in a time of a global economic distress, to do same for the formalisation of the informal sector.
“If this urgent call to action is heeded to, Ghana’s Informal Sector Pension will change from the current abysmal level of about 1% coverage to the same levels of the formal sector’s tiers 1&2. Same change will be true of Micro Insurance, Micro Credit, and Health Insurance,” it stated.