Kosi Yankey-Ayeh
The National Board for Small Scale Industries (NBSSI) has since the outbreak of the COVID-19 pandemic been able to roll out interventions that have reached over 900,000 Micro Small Medium Enterprises (MSMEs) in the country.
The interventions which were mostly targeted at women-led businesses consisted of projects that among other things sought to provide apprenticeship and entrepreneurial support to individuals, give competitive grants to private enterprises for expansion and provide digital support to businesses.
With the support of international partners such as the Mastercard Foundation, Japan International Cooperation (JICA), World Bank, Netherland Development Organisation and GIZ, NBSSI has been able to roll out about 14 programmes so far.
Speaking at the opening of an International Women’s Day (IWD) virtual seminar and masters’ class, the Executive Director of NBSSI, Kosi Yankey-Ayeh, disclosed that women-led businesses and entrepreneurs across the country accounted for over 600,000 beneficiaries representing 63 per cent of businesses.
“We have successfully disbursed funds to over 300,000 beneficiaries under the Coronavirus Alleviation Business Support Scheme (CAPBUSS). Out of the total beneficiaries, over 190,000 representing 69 per cent of the portfolio were females. Through the Mastercard Foundation Young Africa Works, businesses of over 20,000 young entrepreneurs have improved,” she said.
She added that “16,000 of these beneficiaries are females. Our database also reveals that MSMEs which have benefitted from other interventions number more than 635,000 and 64 per cent are females.
“Today there are more than 13 projects besides the above which we are running with CAPBUSS,” Mrs. Yankey-Ayeh disclosed.
She called on policymakers to focus more on women empowerment as a way of limiting the negative impact of the COVID-19 pandemic that had deepened gender inequality by affecting a predominately female informal sector.
“Women now struggle more than before to retain an equal footing on the economy. COVID-19 experience is shaped by higher care responsibilities, instability of jobs and lop-sided access to working capital and digital tools,” she said.
With Mastercard Foundation envisioning a world where everyone had equal opportunity to progress, the Gender Lead at the Foundation, Nafisatu Yussif, said the foundation would continue to offer its support so that the country did not leave anyone, hence promote inclusivity.
Chief Executive Officer, Food and Drugs Authority (FDA), Mrs. Delese Mimi Darko, said the authority was collaborating with NBSSI to support businesses, especially women-led ones to take advantage of the Africa Continental Free Trade Area through its Progressive Licencing Scheme which had given permit to several industries and goods for the market.
The seminar was organised by NBSSI, which was transitioning into Ghana Enterprises Agency (GEA), in collaboration with the Mastercard Foundation Young Africa Works with support from Persol Systems, Food and Drugs Authority (FDA), MTN Ghana and Axis Pension Trust.
By Issah Mohammed