NBSSI helps create 21,892 new jobs

BY: Maclean Kwofi
Mrs Kosi Yankey-Ayeh

The National Board for Small Scale Industries (NBSSI) has facilitated the creation of some 21,892 new jobs in the last three and half years.

It has also facilitated access to GH38.53 million as credit facility between January 2017 and March 2020 to 14,738 businesses out of which about 68.3 per cent are women owned and led businesses.

It was made possible through interventions such as Coronavirus Alleviation Programme Business Support Scheme (CAP BuSS), COVID-19 Recovery and Resilience Programme for MSMEs, WIDU Project and Young Africa Works Project.

Nation Building Updates

The Executive Director of the NBSSI, Mrs Kosi Yankey-Ayeh, made this known at the maiden weekly Nation Building Updates in Accra on September 22.

On the theme ‘Leadership that delivers for the youth,' the forum was designed to provide stakeholders in Ghana's political space with detailed updates on key interventions executed by government.

Decent jobs

Mrs Yankey-Ayeh observed that the provision of decent jobs for young people was a major component enshrined in the 2030 United Nations Sustainable Development Goals (SDGs) to assist and guide member states as they delivered on their respective mandate.

“At NBSSI, we view this initiative as timely and an avenue to promote innovation, creativity and entrepreneur development, particularly at a period when the global economy has taken a nose-dive owing to the outbreak of the Coronavirus disease.

"We are optimistic that the interventions initiated by NBSSI would add on to the already expansionary entrepreneurship ecosystem in Ghana and make a strong position for the nation to leverage its entrepreneurship development agenda to create jobs, wealth and grow the economy as we aim to attain a Ghana beyond Aid,” she said.

Youth support

According to her, the current government through NBSSI had supported the youth in various ways.

She said the NBSSI had disbursed funds through the Coronavirus Alleviation Programme Business Support Scheme, an initiative meant to cushion micro, small and medium enterprises (MSMEs) from the impact of the pandemic, predominantly owned by the youth.

She observed that through key government interventions, the NBSSI has been able to substantially reduce the high unemployment rate in the country, as well as maximise the contribution of small businesses to the country’s economic and social development.

Consequently, the Executive Director indicated that the NBSSI has facilitated access to GH₵38.53 million as credit to businesses in the country between January 2017 and March 2020.

“14,738 businesses created from January 2017- March 2020 through NBSSI’s assistance out of which about 68.3 per cent are women owned,” she stated.

She added that the NBSSI with support from the current government had been able to create 21,892 jobs.

Programmes under YEA

The Chief Executive Officer (CEO) of the Youth Employment Agency (YEA), Mr Justin Kodua Frimpong, also used the opportunity to outline various interventions initiated by his administration that had created about 145,000 jobs.

The interventions, he said consist of YEA Job Centre, Artisan Directory, Youth in Elite Sports, and School Support Programme.

Under its headcount and validation of beneficiaries before payment was introduced in 2017, Mr Frimpong observed that the agency had been able to reduce the number of beneficiaries paid monthly from 62,825 to 45,218.

“Without the headcount and validation, the Agency would have been paying GH₵7 million monthly which translates to GH₵82.5 million yearly.

“This is borne out of prudent management and the institution of effective validation, verification, monitoring and evaluation practices implemented by the Agency's current management,” he said.