The Ghana National Association of Private Schools (GNAPS) has said about 50% of its members have received their stimulus package.
Acting President of the Association, Dr. Damascus Tuurosong, said though they did not receive the full amounts they applied for, most of them can confidently boast of what they have received.
The COVID-19 stimulus package is a GH¢600 million soft loan scheme to be disbursed to Small and Medium Enterprises (SMEs) hit hardest by the coronavirus pandemic.
The loan, instituted by the government of Ghana, is expected to have a one-year moratorium and a two-year repayment plan.
Dr. Tuurosong however stated that the amount applied for by members of GNAPS were not met.
“The response we’re getting across the country indicates that a number of our members indeed are getting their stimulus package. It’s still a process, we’ve not finished yet. A number of them are getting their package.
“The amount they applied for have not been met, some are getting either half or less than half of what they applied for. I will put the percentage at about 50%”, he said.
According to him, “our understanding is that the monies have been disbursed to the banks, who were now supposed to do some due diligence before further disbursement.”
“While other banks have been faster in their due diligence processes, and giving out the loans to our members, GCB has been rather slow and in many cases have frustrated many of our people to the extent that some have given up and have sworn not to go back to GCB anymore,” he stated.
Mr. Tuurosong assured the general public that teaching and learning, for the meantime, will continue uninterrupted.
“It’s not going to interfere with the teaching of our Form 2s. The funerals will go on, on Thursday and it’s not every teacher that would be part of it. Definitely those who have lessons, will stay back at school and teach as the rest of us go on our funeral demonstration”, he said.
The government instituted a GHS1 billion stimulus package to cushion small businesses, as part of measures put in place to ease the financial burden on Ghanaians in the heat of the COVID-19 outbreak.
Story by: Talata Mahama | universnewsroom.com