The Ghana Enterprises Agency has revealed that some businesses which were granted financial support to alleviate the impact of the novel coronavirus pandemic are yet to assess their funds.
According to the Agency’s Executive Director Kosi Yankey-Ayeh, data provided by some banks indicate that many of the accounts through which monies were supposed to have been disbursed have not seen any activity.
“When we reviewed, we realise some people have never gone to the banks to go and take their funds. They had applied, they had been successful, the funds have been given to the banks to reach out to them but for some reason or the other… From one bank there were about 1,500 accounts that have not been opened or taken over because the people didn’t go for the funds,” she said on PM Express.
She said although some applicants failed to assess their monies, GEA has successfully disbursed funds to about 300,000 people.
Government, at the peak of the pandemic, rolled out the Coronavirus Alleviation Programme Business Support Scheme (CAP BuSS) Economic Stimulus to support affected businesses.
She, however, indicated that the Agency will consider mechanisms to redistribute these support to other applicants.
Meanwhile, Kosi Yankey-Ayeh says the Institution should not be seen merely as a funding agency.
She said the GEA provides the support the Small and Medium-scale enterprise (SME) owners need to keep their businesses running.
“Most people see the former National Board for Small Scale Industries (NBSSI) and I am sure people are thinking we should be a funding agency. We are not the funding agency,” she reiterated on June 10.
She said the support comes in the form of technical and some instances facilitate or provide access to finance.
She added that instead of being seen as funding agency, she preferred that the Agency “be seen as a total 360 support given to businesses when the need is there and when we have the resources to provide that kind of support.”
- ‘That is nonsense’ – Tsatsu Tsikata on burning of excavators
- Chilling details of how suspects killed 12-year-old boy in Nornyikpo for rituals
- Housemistress allegedly injures student through caning
- Euro 2020: Joy Prime and Adom TV confirm live schedule
- PAC surcharges 2 ministers for ignoring invitation to answer 2017 Auditor General’s report queries
- Appointment of Receiver of defunct uniBank breach of SDI Act – Court rules
- Toddler found dead after being swept away by flood at Sawaba in Kumasi
- LGBTQ+ elements have infiltrated Ola Girls SHS – Management
- If someone cheats on you, it’s because they love you
- Kumasi floods destroy wares at Kejetia market
Efia Odo, more than 10 other #FixTheCountry campaigners arrested
Government set to provide special financing support for export products
‘Battle lines drawn’ in row over SA’s Zulu king
Covid red list: Ugandans to be barred from UK travel
Overcrowding a major challenge of Ghana Prison Service
Driver jailed 2 years for stealing 45 liters of diesel
#FixTheCountry campaigners ‘protest’ in front of court
Parliament defers sitting over Census
Say it right: The expression is “most of the time” not “most at times”
Man found dead at Kasoa Okrudu river
Women manufacture ECG Pylons; the unique story of Reroy Cable
AG can represent police service in FixTheCountry injunction case – High Court rules
STAR-Ghana Foundation to develop roadmap to address northern floods
Invest church monies wisely – Rev Ogbarmey Tetteh
Stop giving MPs pressure to facilitate your recruitment into GAF – Nitiwul