ASBON, Ogun partner Mastercard to empower, disburse loans to 2 million entrepreneurs

Olufemi Egbesola, president of the Association of Small Business Owners of Nigeria (ASBON) has diclosed that the group, in conjunction with the Ogun state ministry of commerce and industry, will partner MasterCard Worldwide headquatered in New York, USA to empower and disburse credit facilities to about 2 million entrepreneurs operating in the country.

Egbesola said in Abeokuta during a meeting with Bimbo Ashiru, Ogun state commissioner for commerce and industry, that the credit facilities, which will be disbursed to about 2 million operators of small business operators in the country as form of economic empowerment, would start from the first set of business operators that would be clustered at Yewa international market along Idi-Iroko, Nigeria-Republic of Benin borders.

According to ASBON President, a maximum of N2.5 million would be disbursed to an owner of small business across the country to boost micro, small amd medium-scale enterprises and commerce as well as to create direct and indirect jobs, especially in Ogun state through the upgrade of abandoned Yewa international market to hyper shopping malls.

He noted that the Association would be working with three commercial banks through which the soft loans would be disbursed in conjunction with the multinational financial services corporation, saying over 500 entrepreneurs had already been gathered to use the hyper shopping malls when the upgrade of the Yewa international market was completed.

He however, appealed to Ogun state government to improve security network and provide mini fire service around the place, asking Ogun state ministry commerce and industry to help in human capital development of small business owners, adding: “we have sent a proposal that we will manage Yewa international malls for the State government.

“We have gathered like 500 people to use the malls. We want to bring clusters of business people to the area. We are in partnership with MasterCard, it will empower 2 million small business people in Nigeria through our platform and we want it to start from Ogun state. We also having partnership with three banks for disbursement of soft loans to entrepreneurs.”

Responding, Bimbo Ashiru, Ogun state commissioner for commerce and industry, confirmed that the State government had received ASBON’s proposal on the renovation and upgrade of Yewa International Market to hyper shopping malls, particularly for import and export trade, saying that the ministry would involve ASBON as regards its economic planning on the hyper shopping malls.

He said, “we will have to include ASBON at the planning stages as regards Yewa international market, we are ready to work with you and partner you in order to achieve economic viability and greatness.”