The National Service Authority (NSA) has announced a partnership with Absa Bank Ghana to introduce an overdraft facility aimed at supporting National Service Personnel (NSPs) facing delays in allowance payments.
The initiative, developed in collaboration with the National Service Personnel Association (NASPA), is designed to provide immediate financial relief to active NSPs across the country. It seeks to address recurring delays in the monthly allowance disbursement cycle, which have often placed financial strain on service personnel.
Director-General of the NSA, Ruth Dela Seddoh, said the move responds directly to concerns raised by NSPs nationwide. She acknowledged that delays in payments have, at times, created hardship for young graduates undertaking national service.
According to her, the partnership will ensure that no service personnel is left stranded due to timing mismatches between their service period and allowance payments.
Under the agreement, eligible NSPs can access an overdraft facility of up to 85 percent of their monthly allowance. The facility comes with zero interest during the delay period, requires no collateral, and will be automatically repaid once the NSA releases the outstanding allowance.
The overdraft is available to NSPs who hold an Absa Ignition Account, a youth-focused account that offers zero maintenance fees, a free international debit card, and additional benefits including travel insurance coverage.
Managing Director of Absa Bank Ghana, Edward Nartey Botchway, said the bank recognizes the financial pressure allowance delays can impose on young graduates, particularly in meeting essential expenses such as rent and transportation.
He noted that the collaboration aims to bridge the financial gap and prevent payment delays from escalating into crises for service personnel.
The NSA reaffirmed its commitment to improving service delivery and ensuring timely allowance payments, while emphasizing continued collaboration with stakeholders to enhance the welfare of National Service Personnel.
Source :www.kumasimail.com
