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The National Board of Small-Scale Industries (NBSSI) says that the Covid-19 Resilience and Recovery Program for MSMEs (Nkosuo) will bring hope to businesses that have been severely affected by the Covid-19 pandemic.
NBSSI CEO Kosi Yankey-Ayeh said the ‘Nkosuo’ program has been designed to accelerate the growth of companies that fell as a result of the Covid-19 pandemic.
“The program, the ‘Nkosuo’ program is timely; it is an intervention that will bring hope and, more importantly, will provide MSMEs with the opportunity to accelerate the growth of their businesses.
‘Nkosuo’ has been designed to support the country’s Micro, Small and Medium Enterprises in the country.
The Gh ₵ 90 million program is aimed at supporting MSMEs, as well as the start-up of sectors such as agriculture and agribusiness, water and sanitation, health and pharmaceuticals, commerce and creative arts, among others.
It will have a moratorium of 1 year and a repayment period of 2 years.
Speaking at the launch of the program, Ms Yankey-Ayeh said that 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 advance businesses.
This, he said, is “aligned with government interventions and our efforts to support business.”
The application for ‘Nkosuo’, he said, will be through an online portal (nbssi.gov.gh/recoveryprogram).
“This is a time for Ghanaian businesses to recover, stay strong and accelerate, to really benefit from all government and community interventions,” he emphasized.
In addition, he urged all MSMEs to be very interested in the program and apply the resources they obtain with criteria.
