Economy

‘Nkosuo’ will bring hope to businesses – NBSSI

The National Board for Small Scale Industries (NBSSI) says the Covid-19 Resilience and Recovery Program for MSMEs (Nkosuo) will bring hope to businesses that have been badly hit by the Covid-19 pandemic.

Executive Director for NBSSI, Kosi Yankey-Ayeh said the ‘Nkosuo’ program has been designed to accelerate the growth of businesses that fell as a result of the Covid-19 pandemic.

“The program, ‘Nkosuo’ program is timely; it’s an intervention that will bring hope and most importantly, provide MSMEs an opportunity to accelerate the growth of their businesses.

‘Nkosuo’ has been designed to support Micro, Small and Medium Enterprises in the country in the country.

The Gh₵ 90 million program is aimed at supporting MSMEs, as well as start-ups in sectors such as agriculture and agro-businesses, water and sanitation, healthcare and pharmaceuticals, trade and commerce, the creative arts, among others.

It will have a 1 year moratorium and a 2-year repayment period.

Speaking at the launch of the program, Mrs Yankey-Ayeh said the government of Ghana, in collaboration with the MasterCard foundation initiative, marks the beginning of a new era for MSMEs in Ghana at a time when the country is looking for a new way to accelerate and move businesses forward.

This, she said, is “in alignment with government’s interventions and our efforts to support businesses”.

The application for ‘Nkosuo’ she said will be via an online portal (nbssi.gov.gh/recoveryprogram).

“This is a time for Ghanaian businesses to recover, stand strong and accelerate, to really benefit from all the interventions of government and in the community,” she emphasized.

She further urged all MSMEs to take keen interest in the program and apply the resources they get judiciously.