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.”
Latest Stories
-
My over $8000 oxygen machine blew up due to dumsor – Joy FM listener narrates harrowing ordeal
7 mins -
Four more persons remanded over Tema-Mpakadan train accident
15 mins -
Bobrisky appeals against six-month sentence
19 mins -
Ashanti West ECG uncovers 74 illegal connections
25 mins -
Assenso-Boakye’s comment that development is dependent on partisan politics worrying – CDD Ghana Fellow
51 mins -
Samira Bawumia lauds Kanéval, others for igniting passion for reading among children
54 mins -
Some supporters of Movement for Change return to NPP
1 hour -
NPP running mate saga: Stop putting pressure on Bawumia – Group tells lobbyists
1 hour -
IES calls for immediate removal of Matthew Opoku Prempeh over deteriorating energy crisis
2 hours -
GFA reschedule selected MD 28 fixtures to ensure maximum support for Dreams FC
2 hours -
A new financing model for SHS will leverage private sector to finance infrastructure – Bawumia to CHASS
2 hours -
Earth Day: CCCFS promotes adoption of ceramics to fight plastic pollution
2 hours -
Ten dead as navy helicopters collide mid-air in Malaysia
3 hours -
Kwadaso Onion Market: Traders relocated over security concerns
3 hours -
Organise your dumsor demo, we’ll choose who to partner for ours – Franklin Cudjoe tells Yvonne Nelson
3 hours