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A total of 5,239 applicants have received their Small Business Grant stimulus packages in Vanuatu.
This was confirmed in a statement released by the Ministry of Finance and Economic Management.
To date the ministry has paid approximately 49.3% of the applications received, a total of 2, 584 applicants.
“It comes as there were few concerns among the public arena into the payments of the government’s SBG for businesses in Efate and its offshore islands.”
MOFEM, through the Department of Finance Treasury, clarified that few businesses who had not received their SBG packages were due to few issues which had delayed their payment rollout effectively.
“The issues applicants failed to address are Authorization letters, Business Licenses that are not qualified after cut of period eligible to apply, Business Licenses submitted with their application are not stamped by issuing Officer, No Bank Confirmation Letter or Bank Account issues, Different Business License Number in Database that was submitted, Duplicate Business License Numbers.”
“Issues identified also include no supporting documents attached to SBG Application Form, Business License Details provided are not on our Database, Date of Issue not stated on Business License submitted with applicants, Due to unverified Bank Account Details resulting in return payments, Delay in Revalidation of Business License from Penama,Torba, Tafea, Sanma and Malampa which slows down the assessment of applications.”
“For the Wage Subsidy Scheme (WSS), Payment to employers will only be approved upon receipt of the VNPF payment declaration for each month to VNPF by employers.”
There are 176 businesses under the Sikotau association, with 85 businesses already paid roughly an amount of VT10,200,000. It added that there are 91 businesses that have issues with their application especially with duplications which the department is currently working with the licensing authority of Shefa Provincial Government council to sort out.
