The National Board for Small-Scale Industries (NBSSI) has commenced the disbursement of GH¢50m to private schools which applied for loans under the Coronavirus Alleviation Programme Business Support Scheme (CAP BuSS). The CAP BuSS is a welcome scheme that will provide financial buffer to as many eligible businesses as possible in order to ensure their continued existence.
The NBSSI which was established to contribute to the development of an enterprise culture in Ghana by facilitating access to credit is expected to make the package relief available to 2,000 private schools to help them pay the salaries of their teaching and non-teaching staff.
Due to the outbreak of the Covid-19 pandemic and its resulting impediment on traditional classroom teaching leading to the closure of schools for the past six months, most private schools have not been able pay the salaries of their staff and this has led to hardship on the workers. In this regard, the affected schools appealed for assistance from the government.
In a statement given by the Executive Director of the NBSSI, Mrs. Kosi Yankey-Ayeh, she mentioned that her office had begun disbursement to the private schools that applied for the relief package through designated banks. She added that beneficiaries who met the given criteria by the NBSSI would receive up to GH¢250,000 each under the Anidaso and the Adom special loans, with an interest rate of three per cent, payable within two years, starting from the period after one year.
She further stated that the relief package was necessary as it would help ensure the continued operations of the schools as we anticipate regular activities to return to normal.
Mrs. Yankey-Ayeh concluded that the NBSSI would continue to make available to business, the necessary support to burgeon in spite of the economic crises.