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Application for CAP is free – NBSSI
Applicants of the Coronavirus Alleviation Programme (CAP) business support have been asked to be cautious of persons who offer to register them on the scheme at a fee.
The National Board for Small Scale Industries (NBSSI), the fund manager, said although the registration for the CAP was free, some unscrupulous individuals were charging applicants before registering them on the scheme.
A statement issued by the board in Accra said some unsuspecting applicants had fallen victim to fraudsters who were charging registration and application fees.
“The initial registration/application is totally free. However, an administrative or processing fee is deducted only when funds have been approved and credited to the applicant’s account,” the NBSSI said.
The GH₵1 billion CAP, launched by President Nana Addo Dankwa Akufo- Addo on Tuesday, May 19, 2020, is aimed at aiding Micro, Small and Medium Enterprises (MSMEs) to survive the impact of the pandemic on their operations.
The statement said the facility came with an annual interest rate of three per cent, a one-year moratorium and a repayment term of between two and three years and administered to eligible businesses through some financial institutions and telecommunication companies.
“It is a life saver not just for the beneficiaries but for the nation as a whole. It is unprecedented in Ghana’s history, as it accounts for about 0.15 per cent of Gross Domestic Product (GDP) and 1.22 per cent of the projected tax revenue for 2020, oxygen for a nation gasping for breath from a Coronavirus pandemic that has hit the world hard and brought global economies to a standstill,” it said.
It noted that with MSMEs accounting for 92 per cent of businesses and contributing to about 70 per cent of GDP, the effort to support them was justified because, “MSMEs are the pulse of the Ghanaian economy. It is these businesses that keep the lights on in Ghana.”
“The fund is a breath of fresh air and a resurgence of hope in an uncertain time. It is the panacea this nation so desperately needs to sail through these tumultuous times,” the statement said.
The NBSSI said it had a proven track record in implementing similar interventions and had in the last three years, chalked many significant milestones such as the training of 65,000 youths and supporting several entrepreneurs.
“The hope is that this fund will benefit as many eligible businesses as possible, to ensure their survival, as well as that of households that depended on such businesses. There is no doubt that this relief programme is timely and most welcome,” it said.
BY JONATHAN DONKOR
News
Gomoa West: NPP, NDC supporters clash over commissioning of DRIP equipment
Supporters of the National Democratic Congress (NDC) and the New Patriotic Party (NPP) on Monday morning clashed over the commissioning of machinery for the District Road Infrastructure Project in the Gomoa West District of the Central Region.
According to Citi News sources, the conflict began when NDC supporters questioned the decision to display images of Bismark Basie Nkum, the NPP’s Gomoa West parliamentary candidate on the DRIP machinery.
This disagreement quickly escalated, almost leading to a physical altercation between the two groups.
Baisie Nkum, who doubles as the District Chief Executive (DCE) for Gomoa West, further claimed that the Member of Parliament for the area, Richard Gyan Mensah, brandished a pistol and issued threats against the NPP’s local leadership.
A viral video circulating on social media captured the DCE accusing MP Richard Gyan Mensah of pulling out a gun and threatening NPP supporters during the heated incident.
Source: Citinewsroom.com
News
Why should you resist calls for forensic audit? – Alan quizzes EC
Founder of Moment for Change, Alan Kyerematen, has advised the Electoral Commission (EC) to address concerns identified by political parties ahead of the December elections.
According to him, the commission has the mandate to conduct free and fair elections and must ensure that all stakeholders trust the system. If concerns are raised about the process, he said the EC should work to clear any doubts in the minds of the people.
His comments were in response to whether the National Democratic Congress’ (NDC) request for a forensic audit of the register.
Mr. Kyerematen stated that the NDC, being a major stakeholder, has pointed out certain discrepancies. Therefore, the EC has the responsibility to prove that it is committed to running a free and fair election.
Speaking on JoyNews’ News Desk on September 16, he said “For the sake of ensuring the integrity of the elections, to respond to the specific cases that have been identified about irregularities in the voters’ register.
“It only goes to enhance the credibility of the commission. Yes. It [ forensic audit] has to be. I am not sure why there should be a resistance to that. Because, yes the Electoral Commission has indicated that they have responded to those comments.
“But we have to put all reasonable doubt. There is a need to have a credible voters register. So if there is an indication that there is still doubt associated with the electoral register, then let us allow an extensive comprehensive audit, which can be done without any difficulty,” he said.
The presidential aspirants said this would help improve perception about the credibility of the EC.
Mr Kyerematen said although the EC has an incredible track record in Africa, there is a need to ensure that their reputation remains intact.
Additionally, he said the election management body has the responsibility to prove that the electoral register is clean and has no basis for complaints.
“It is only through an audit that this could happen.” he said.
Source: Myjoyonline.com
