Ghana Enterprises Agency

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The Ghana Enterprises Agency (GEA) is a Ghanaian government agency under the Ministry of Trade and Industry. [1] [2] The GEA is mandated by the Ghana Enterprises Agency Act, 2020 (Act 1043) to promote and develop MSMEs in Ghana. [3] It replaced the National Board for Small-Scale Industries (NBSSI).

Contents

Its aim is to interrelate, administer and stimulate the development of Micro, Small, and Medium Scale Enterprises (MSMEs). [4] GEA is headed by Kosi Yankey-Ayeh, the first CEO and former executive director of the erstwhile NBSSI. The Persons With Disabilities (PWD) Enterprise Support Programme to help improve businesses owned by PWDs was launched in 2023 by Ghana Enterprise Agency (GEA) and is being supported by the World Bank on a programme titled Ghana Economic Transformation Project. [5]

Resources and Coverage

Aims of GEA

  1. To contribute to the creation of an enabling environment for the small-scale enterprise development.
  2. To contribute to the development of an enterprise culture in Ghana by facilitating access to credit.
  3. Facilitate MSEs access to substantial and high quality Business Development Services for their development. [8]

Services

It delivers services such as funding, business development and business performance. [7]

Registration Process

Partners

The NBSSI partners with some organizations such as the Ministry of Trade and Industry, USAID, EU, Christian Aid, UNICEF, Ghana Standards Authority, [10] Ministry of Inner-Cities and Zongo Development among others. [11]

The NBSSI partnered with Mastercard Foundation to embark on a project. [12]

The GEA partnered with World Bank Groups to support PESP,

Achievements

The NBSSI has trained about 65,000 youth through innovation hubs and apprenticeship programs.

It has disbursed about GHC45 million as loans.

It has provided business acceleration services to 254 SMEs through KAIZEN.

It has also linked businesses to funding and international exports markets.

It has established over 13,000 new businesses. [7] [13]

The NBSSI claimed it plans to formalize the activities of SMEs through digital means. It also claimed it has received some funds to help about 500 businesses to scale-up their startups to digital platforms. [14]

Support Scheme

On 19 May 2020, the president Nana Akufo-Addo launched the CAPBuSS which was provided by the Government of Ghana and other organizations to micro, small and medium-scale businesses across Ghana. [15] [16] [17] [18] [19]

The executive director of NBSSI claimed there was an approval for the disbursement of stimulus packages to over 1,000 private schools in the country. [20] In January, they decided to end the disbursement of funds to SMEs. [21]

The NBSSI in partnership with the MasterCard Foundation launched the Nkosuo Program for the support of both formal and informal sectors who were affected by COVID-19 pandemic. [22]

It was disclosed some hoteliers submitted names of their family members to access the COVID-19 stimulus package by the Government. [23]

According to the Executive Secretary, more than 21,800 jobs were created under the government's CAPBuSS mainly owned by the youth. [24]

The executive director of NBSSI said they were focusing on helping female entrepreneurs begin their businesses to be strong due to the impact of the COVID-19 pandemic. [25]

The NBSSI gave start-up kits to young business peoples in the Bono region to help scale their businesses. [12]

The NBSSI disbursed funds under the CAP BuSS to over 300,000 businesses in Ghana. [26]

The NBSSI was directed by President Nana Akufo-Addo to offer financial support to traders who lost their goods to a fire outbreak at the Odawna Market. [27]

The GEA in support with the World Bank launched the Persons With Disabilities (PWD) Enterprise Support Programme PESP in June, 2023.

The GEA is embarking on a programme to support WOMEN and YOUTH IN MSME.

Conversion

It was claimed the Parliament of Ghana approved the Ghana Enterprises Agency Bill under a certificate of urgency. The NBSSI was converted into the Ghana Enterprises Agency to oversee, coordinate, promote and develop Micro, Small and Medium Enterprises (MSMEs). [28] [29]

Controversies

The NBSSI denied it was charging fees from applicants to process the CAPBuSS. It was reported some organizations and individuals were charging fees from applicants before they were allowed to access the funds. It also denied contracting any organization to charge processing fees in a statement. [30]

An organization of private schools claimed the NBSSI refused to give them the full amount agreed in the package. They claimed their members were given a lower amount than they requested. [31]

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References

  1. ↑ "Ghana Can Dream Again – Coronavirus Alleviation Programme Business Support Scheme: Win-Win For All!". www.msn.com. Retrieved 2020-08-28.
  2. ↑ "Training commences for selected SMEs under COVID-19 Innovation and Digitalisation Support Scheme - MyJoyOnline.com". www.myjoyonline.com. Retrieved 2021-04-06.
  3. ↑ "IIA - Invest In Africa : Prospering African Economies". investinafrica.com. Retrieved 2020-08-28.
  4. ↑ "Ghana Enterprises Agency replaces NBSSI". MyJoyOnline.com. 2020-11-04. Retrieved 2020-11-04.
  5. ↑ Ghana Rising. World Bank. 2021-11-10. doi:10.1596/36580.
  6. ↑ "Business Resource Centres – National Board for Small Scale Industries" . Retrieved 2020-08-28.
  7. 1 2 3 Presentation to Associations (2020). Coronavirus Alleviation Programme (CAP) Business Support Scheme. Accra: National Board for Small Scale Industries.
  8. ↑ "About Us – National Board for Small Scale Industries" . Retrieved 2020-08-28.
  9. ↑ "Terms of Use – National Board for Small Scale Industries" . Retrieved 2020-08-28.
  10. ↑ "NBSSI disburses GHC1m to micro business owners". BusinessGhana. Retrieved 2020-08-28.
  11. ↑ "Partners – National Board for Small Scale Industries" . Retrieved 2020-08-28.
  12. 1 2 "Fifty young entrepreneurs receive support from NBSSI". www.ghanaweb.com. 2020-11-02. Retrieved 2020-11-02.
  13. ↑ "Coronavirus Alleviation Programme Business Support Scheme (CAP BuSS): Win-Win for All!". MyJoyOnline.com. 2020-05-29. Retrieved 2020-08-28.
  14. ↑ "NBSSI aiding 500 SMSEs to digitalise". www.ghanaweb.com. 2020-11-10. Retrieved 2020-11-10.
  15. ↑ Bureau, Communications. "President Akufo-Addo Launches Gh¢1 Billion Cap Business Support Scheme". presidency.gov.gh. Retrieved 2020-08-28.
  16. ↑ "NBSSI disburses funds to over 10,000 businesses". www.ghanaweb.com. 2020-07-09. Retrieved 2020-08-28.
  17. ↑ "NBSSI disburses GH¢57.12m to small business owners". Graphic Online. Retrieved 2020-08-28.
  18. ↑ "170,000 MSMEs apply for COVID-19 business support scheme- NBSSI". Ghanaian Times. 2020-06-10. Retrieved 2020-08-28.
  19. ↑ "COVID-19 Alleviation Programme: 8,000 apply for loan". Graphic Online. Retrieved 2020-08-28.
  20. ↑ "Disbursement of GH¢50 million stimulus to private schools approved – NBSSI". www.ghanaweb.com. 2020-09-14. Retrieved 2020-09-15.
  21. ↑ "CAPBuSS disbursement ends January 31". www.ghanaweb.com. 2021-01-30. Retrieved 2021-01-30.
  22. ↑ "NBSSI launches business support programme". Graphic Online. Retrieved 2020-09-17.
  23. ↑ "Some hoteliers submitting family names for Coronavirus fund – NBSSI". www.ghanaweb.com. 2020-09-26. Retrieved 2020-09-29.
  24. ↑ "More than half of all jobs created since 1995 were non-standard jobs". 2015-05-21. doi:10.1787/9789264235120-graph7-en . Retrieved 2020-10-05.
  25. ↑ "Women entrepreneurs to receive major post-coronavirus boost". www.ghanaweb.com. 2020-10-20. Retrieved 2020-10-20.
  26. ↑ "300,000 businesses have benefitted from government's CAP BuSS initiative - NBSSI". www.ghanaweb.com. 2020-11-11. Retrieved 2020-11-12.
  27. ↑ "Prez Akufo-Addo directs NBSSI to support victims of Odawna fire". Graphic Online. Retrieved 2020-11-20.
  28. ↑ "NBSSI converted to Agency after passage of Ghana Enterprises Agency Bill". Citinewsroom - Comprehensive News in Ghana. 2020-11-04. Retrieved 2021-04-05.
  29. ↑ "NBSSI now Ghana Enterprises Agency". Graphic Online. Retrieved 2021-04-06.
  30. ↑ "NBSSI denies applicant fees charging claims". www.ghanaweb.com. 2020-09-08. Retrieved 2020-09-10.
  31. ↑ "NBSSI not paying us agreed stimulus package – Private schools allege". www.ghanaweb.com. 2020-10-05. Retrieved 2020-10-05.
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