NBSSI urges Nkosuo loan applicants not to pay any processing fee


The National Board for Small Scale Industries (NBSSI) says it has not sanctioned the collection of any fee from applicants for processing of NBSSI/Mastercard Foundation’s Nkosuo loan applications.

The NBSSI statement followed alleged text messages requesting for unapproved charges from NBSSI/Mastercard Foundation’s Nkosuo Programme applicants.

The alleged message required applicants to pay a fee of GH?50 to “VODA CASH” number 0206385999 as processing fee for their Nkosuo applications.

In a statement the NBSSI said as an agency of state the Board did not own any VODA CASH account nor operate or have any other mobile number account.

Besides, the NBSSI had not contracted anybody to collect fees on its behalf, it said.

“The Board, therefore, cautions the general public against the payment of fees to any person, group or association requesting for such charges under the pretence of working with NBSSI or influencing the review and disbursement processes,” it said.

The statement encouraged the public to report any such demands to the nearest Police Station, adding that the NBSSI had duly reported the case to the National Security for the necessary attention.

“Attempts have also been made to report the number to Vodafone Ghana. The Telcos are encouraged to assist NBSSI in flushing out such characters,” it said.

Meanwhile, the NBSSI informed all applicants that due diligence is currently going on and that the review of applications and disbursements of the Nkosuo loans would commence with the assistance of the Participating Financial Institutions (PFIs).

“We, therefore, urge you to exercise patience as the procedures are carried out. Our commitment to supporting Micro, Small and Medium Enterprises remains unwavering,” the statement added.

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