NBSSI denies charging fees for CAP BuSS

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Executive Director of NBSSI, Mrs. Kosi Yankey-Ayeh.

The National Board for Small Scale Industries (NBSSI) has vehemently denied charging applicants any fees before disbursing the Coronavirus Alleviation Programme Business Support Scheme (CAP BuSS).

It has therefore urged the public to treat such reports with contempt, cautioning applicants against the payment of fees or charges to any intermediary – be it an Association, group or individual.

These and more were contained in a press statement issued and signed by the Executive Director of NBSSI, Mrs. Kosi Yankey-Ayeh.

The statement further emphasised that NBSSI has not engaged any group, association or individual to discuss, collect or facilitate the collection of any charges on its behalf.

The statement specifically said the Board has engaged GNACOPS on a number of issues and even queried them about the 4 percent charges, and maintain that the charge on GNACOPS members is wrong and unacceptable.

By this, the general public is hereby being requested to disregard any claims by GNACOPS that the Board is demanding an extra 3% fees in respect of the loans being granted under the CAP BuSS from their members.

“Applicants are therefore cautioned against the payment of fees or charges to any intermediary, be it an association, group or individual. We encourage applicants to direct all concerns and questions to the NBSSI Public Relations Unit. The public is also encouraged to report any person engaging in this act to the nearest police station,” the statement added.

The statement comes on the heels of media reports and queries by some applicants that some trade and business associations are requesting fees from members in order to access the soft loans.

The GH¢600million CAP BuSS support for Micro, Small and Medium Enterprises (MSMEs) is part of government’s post COVID-19 economic recovery interventions. CAP BuSS is being administered by NBSSI and offers the ‘Adom’ micro loans and ‘Anidasuo’ soft loans, as well as some level of technical support for MSMEs in the much-needed economic resurgence.

It has an interest rate of 3 percent, a one-year moratorium and repayment term of between 2-3 years.

Disbursement of the Fund is ongoing across the country. The CAP BuSS was launched on May 19, 2020 by President Nana Addo Dankwa Akufo-Addo.

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