Agency targets N20bn to boost MSMEs in Anambra
The Anambra Government has reiterated its commitment to remain the choice destination for commerce in the country as it targets N20 billion to boost Micro, Small and Medium Enterprises (MSMEs).
The Managing Director, Anambra State Small Business Agency (ASBA), Clement Chukwuka, said this in an interview with the News Agency of Nigeria (NAN) on Sunday in Awka.
Chukwuka said the agency targeted to raise N20 billion in the next five years with the hope of generating more than N3 billion in 2017 alone.
“Gov. Willie Obiano is determined to encourage investments and build institutions that will not only promote SMEs but outlive his administration.
“We are already working with the Central Bank of Nigeria (CBN) to raise more funds.
“In the past 19 months, the agency has so far funded in excess of 15, 000 people directly in the micro credit schemes and close to 200 for the SME which had further created chains of employment.
“We have also been able to put in place shoe manufacturing cluster in conjunction with the Standards Organisations of Nigeria (SON) with more than a thousand shops built with little funds.
“They are expected to begin manufacturing of shoes for export.
“Asides from providing finance to entrepreneurs at nine per cent, we are also into mentoring and we plan to open up opportunities for fashion designers, mechanics and artisans this year,’’ he said.
He said that the State Government and the CBN had empowered entrepreneurs and revived moribund industries with the provision of N2 billion loans through the agency since June 2015.
Chukwuka also disclosed that the agency planned to establish ASBA Business Academy “where for instance, we bring in those artisans in conjunction with the Ministry of Science and Technology to train and certify them”.
“ASBA is a development financial institution of the state created to cover areas of industrialisation, value added chain programmes, artisans, science and technology, oil and gas, and manufacturing sectors.
“Major Anambra rice millers and the clusters that export vegetables from the state overseas are funded by the agency to boost the agricultural sector,” he said.
He disclosed that micro credit entrepreneurs who applied for funds received between N1, 000 and N500, 000 while between N5 million and N50 million was approved to successful applicants under the SMEs.
He stressed that ASBA had been able to impact more than 60, 000 businesses directly and indirectly in the state.