News

Nearly 5,000 MSMEs apply for COVID-19 business support fund

The National Board for Small Scale Industries (NBSSI) has received close to 5,000 applications days after government launched the GH¢1 billion COVID-19 Alleviation Programme (CAP) business support scheme to cushion businesses negatively impacted by the coronavirus (COVID-19) pandemic.

Jointly funded by government and some commercial banks in the country, the scheme which is being managed by the National Board for Small Scale Industries (NBSSI) is expected to help micro, small and medium enterprises (MSMEs) back onto their feet.

The scheme, which has been grouped into two, namely Adom and Anidaso, will make available funds to smaller enterprises and larger companies respectively.

Speaking at a press briefing in Accra yesterday on government’s interventions against the disease, Executive Director of NBSSI, Esi Kosi Antwiwaa Yankey, said the applicants have been registered and were awaiting the next stage.

She noted that the interest rate was three per cent with a one-year payment moratorium and two to three years payment period.

As at yesterday, she said the Board has received more than 1000 calls from interested businesses on how to access the funds.

She indicated that all the announced platforms for access to the fund including online portal, USSD codes and dedicated office have been activated and could be used by all including persons with disabilities (PWDs).

To be able to provide opportunities for all to receive the financial support, Madam Yankey said the NBSSI has established a grievance centre to address issues and challenges faced by applicants.

“If you are experiencing any difficulty with regards to the application process, please contact the grievance centre and all your issues will be looked at. It is for all MSMEs and so we encourage all to participate to benefit financially,” she added.

To ensure efficient use of the funds, she said, the Board would monitor and train beneficiaries on book keeping skills to digitise their businesses and increase revenue potentials.

She stated that beneficiaries which fail to pay back the funds they receive would be blacklisted from accessing future support from government.

President Nana Addo Dankwa Akufo-Addo on Tuesday launched a GH¢1 billion COVID-19 Alleviation Business Support Programme to support MSMEs affected by the COVID-19 pandemic.

The amount is expected to support businesses in areas such as agriculture and agribusiness, manufacturing, tourism and hospitality, education, food and beverages, technology, transportation, commerce, healthcare and pharmaceuticals, and textile and garments.

According to President Akufo-Addo, the business support programme, which is expected to reach 180,000 beneficiaries across the country, will help minimise job losses in the wake of the outbreak of the COVID-19 pandemic.

BY CLAUDE NYARKO ADAMS

News

Ex-GIIF CEO and Prof. Ameyaw-Ekumfi charged over $2m Sky Train fiasco

The Attorney General’s Office has formally charged former Ghana Infrastructure Investment Fund (GIIF) CEO Solomon Asamoah and ex-board chairman Prof. Christopher Ameyaw-Ekumfi for their roles in the controversial Accra Sky Train project, which allegedly cost the state $2 million without authorisation.

The charges, filed today at the High Court (Criminal Division), include wilfully causing financial loss to the state under the Criminal Offences Act, conspiracy to commit crime through intentional dissipation of public funds, and intentional dissipation of public funds under the Public Property Protection Decree.

Prosecutors allege that in February 2019, the accused authorised a $2 million payment from GIIF to Africa Investor Holdings Limited for preliminary work on the Sky Train project – a system that was never built. The payment was reportedly made without proper board approval.

The Sky Train project, initiated in 2018 as a public-private partnership for an urban rail system in Accra, involved a memorandum of understanding between the Ministry of Railways Development, Africa Investor Holdings, and GIIF. However, investigations revealed the $2 million disbursement lacked proper due diligence and violated GIIF’s governance protocols.

Attorney General Dr. Dominic Ayine stated the accused acted outside their mandate, causing significant financial harm to the state. “The payment was unauthorised, and the project never materialised. This is a clear case of financial misconduct,” the filing stated.

The case will proceed in the High Court, with the AG’s office indicating some GIIF board members have agreed to testify as prosecution witnesses.

This prosecution forms part of the government’s broader crackdown on financial malfeasance, following earlier warnings of pending charges in the Sky Train and NSS ghost names scandals.

Source: Myjoyonline.com

News

Interdict Sammy Gyamfi immediately to allow for investigations – NPP urges Mahama

The National Organiser of the New Patriotic Party (NPP), Henry Nana Boakye, has called on President John Mahama to immediately interdict Mr Sammy Gyamfi from his role as acting Chief Executive Officer of the Ghana Gold Board (GoldBod), to allow for investigations into his conduct following his public gifting of dollars to a self-lifestyle preacher.

The incident in question occurred on Saturday, May 10, 2025, when Mr Gyamfi was seen in widely circulated videos gifting bundles of US dollars to controversial evangelist Nana Agradaa while seated in his Range Rover.

Speaking at a news conference held by the party on Tuesday, May 13, Mr Boakye emphasised the need for consistency in leadership and accountability, pointing to recent controversies involving senior public officials.

“We also call on the President to immediately interdict Mr Sammy Gyamfi as acting Chief Executive Officer of the Ghana Gold Board — or at least, he should interdict him pending the conduct of the investigation by the criminal investigation authorities of the state,” Boakye said.

Drawing a sharp comparison with a previous incident involving former Sanitation Minister Cecilia Dapaah, Boakye noted that Madam Dapaah was compelled to resign after reports emerged of large sums of money allegedly stolen from her residence, despite her long-standing public service and reputable family background.

“We cannot but remember when huge sums of money were reported to have been stolen from the residence of Madam Cecilia Dapaah, a woman who had worked in high places for over forty years before the incident — an MP since 2001, a deputy minister and a minister — married to a well-known, wealthy architect and consultant with nearly sixty years’ experience,” he remarked.

Boakye highlighted that under President Nana Addo Dankwa Akufo-Addo, Madam Dapaah stepped aside promptly, enabling thorough investigations by the Office of the Special Prosecutor (OSP).

“Investigations were duly conducted by the OSP against Madam Cecilia Dapaah and her husband after what the OSP described as seven months of extensive investigation and four months of collaborative inquiry,” he added.

The NPP is now demanding similar action from President Mahama in the interest of transparency, good governance, and public trust.

Source: Myjoyonline.com