How to apply for Government’s GHS 600 Million Coronavirus Stimulus Package for Businesses and Individuals

The Coronavirus pandemic has no doubt affected a lot of businesses worldwide and Ghana is no exception.

In his last address to the country, the President of Ghana, Nana Akufo Addo, said that government was making efforts to lessen the burden that the lockdown and other COVID-19 associated efforts have put on businesses.

He said that there will be a soft loan scheme of around GHS 600 million to be rolled out by the National Board for Small Scale Industries (NBSSI), Business & Trade Associations and selected Commercial and Rural Banks in Ghana.

In this article, we look at who qualifies for the stimulus package and how they can apply for it.

Businesses and Individuals who qualify for the Government of Ghana Coronavirus Stimulus Package

According to the Deputy Minister for Finance, Mrs. Abena Osei Asare, businesses and individuals who qualify for the loan should have the following characteristics:

1. The business or individual applying should belong to a recognised trade group/union
2. The business or individual should be registered as a taxpayer with a valid Tax Identification Number (TIN)
3. The business or individual should have a working bank account or mobile money wallet
4. The business or individual should be operating in the following priority areas:
   • Healthcare and Pharmaceuticals
   • Manufacturing
   • Agri-businesses and Agro-businesses – food and beverages incl.
   • Water and Sanitation/PPEs
   • Tourism and Hospitality
   • Education
   • Textiles and Garments
   • Commerce/Trade
   • Other Services

How to apply for Government’s GHS 600 Million Coronavirus Stimulus Package

1. Once you meet the criteria above, call 0302747777 or visit any of the NBSSI Business Resource Centres. You can also use the web portal for your application.
2. Answer all the questions so that your details are taken for processing
3. You will then receive a Unique Reference Code via text message and email
4. You will also be sent a second message to give you the go-ahead to continue with your loan application
5. Use the received Unique Reference Code to continue with the loan application

The shortcode to apply for the stimulus package is *718*555#.

Kindly note that the phone number to call appears to be very busy so it will be nice to visit any of the NBSSI Business Resource Centres across Ghana.