AKUAPIM SOUTH MUNICIPAL ASSEMBLY  coat of arms

Akuapim South Municipal Assembly registers residents for NBSSI stimulus package

Placeholder image Most businesses were affected due to the covid-19 pandemic and as such the government of Ghana under the leadership of President Nana Akuffo Addo provided small and medium scale companies with some relief through the Corona Virus Alleviation Program Business Support Scheme (CAPBUSS) which entailed two specific loans thus; the Adom and Anidasuo loans through the NBSSI. The NBSSI was responsible for the application and disbursement of funds. The factors to determine which businesses were qualified for either the Adom or the Anidasuo loans where a business' turnover and number of employees. The interest rate for the CAP loans was 3 percent with up to a year's grace period.

On the 10th, July a training was held at the Municipal Assembly office hall by a team from Nsawam Adoagyri Municipal Assembly for selected staff members of the assembly for NBSSI registration exercise, the staff members included national service personnels, NABCO personnels, Co-operative staff and other supporting staff. The training took about four hours with the key point involving introduction to the scheme, requirement for applicant, possible challenges and their solution.

The Adom loans were for petty traders. Applicants for the Adom loan were liable for up to Two Thousand Ghana Cedis (2000.00) and must have up to five employees. Requirements for the Adom loan were; a Tax Identification number (TIN), valid ID card (which were the Voters ID or passport or Driver’s license), postal address and a valid mobile money account. The mode of payment for the Adom loan was through a valid mobile money account.

The Anidasuo loans were for individual SME's which include; micro, lower small businesses, upper small businesses and medium scale businesses. The micro businesses were eligible for up to Ten Thousand Ghana Cedis (10,000.00). The lower small businesses were eligible for up to Seventy-Five Thousand (25,000.00) Ghana Cedis. Upper small businesses were eligible for up to One Hundred and Fifty Thousand (75,000.00) Ghana Cedis. The medium scale businesses were eligible for up to Three Hundred (150,000.00) Ghana Cedis.

The requirements of the Anidasuo loans were Tax Identification number (TIN), valid ID card (which were the Voters ID, passport and Driver's license), post office Box number, Business certificates or Assembly business operating permit, email address, digital address for both business and residence and a valid bank account. The mode of payment for the Anidasuo loan was through a valid bank account.

In Akuapim South Municipal Assembly, eight hundred and twenty (820) people were aided to apply for the loans. Of the Eight Hundred and Twenty people, Four Hundred and Fifty-one (451) applicants were male while he females were Three Hundred and Sixty-Nine (369) were female.

NBSSI trained personnel faced a number of challenges pertaining to the registration of NBBSI loan applicant. A significantly higher number of applicants didn’t have a TIN number, which delayed the application process. Some of the applicant couldn’t register because they didn’t meet the requirement, wrong credentials and invalid account numbers. System failure due to internet connectivity were part of the challenge the team faced. About One Hundred and Twenty-One (121) applicants went through the registration process but could not complete, Seventy-five (75) applicants could not meet requirement and hence could not register. Two Hundred Fifty-Eight (258) applicant were not able to register due to time frame.
  • Aug. 28, 2020

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