30,000 To Benefit From Anambra’s N1bn Small Business Loans | Independent Newspapers Limited
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30,000 To Benefit From Anambra’s N1bn Small Business Loans

Posted: Apr 5, 2016 at 6:03 pm   /   by   /   comments (0)


Chukwujekwu Ilozue AWKA


Chief Clement Chukwuka, managing director of Anambra Small Business Agency (ASBA), has said that the state was targeting 30,000 micro-credit entrepreneurs to benefit from the N1 billion loans which it secured from the Central Bank of Nigeria (CBN) for their benefit.

Already, Chukwuka said, the agency has got application from 2,000 enterprises after just two weeks and following the exhaustion of the N1 billion which was disbursed by the agency to Small and Medium Enterprises (SMEs) last year.

Governor Willie Obiano launched the fund in June last year where he said that small business owners in the state now have course to cheer.

He said that to ensure that the beneficiaries utilise the loans which stands at N500,000 properly, “ASBA has professional bankers who advise them, builds capacity, trains and retrains them in accounting and simple  marketing so that they can repay the loans; know when they make profit and manage the fund very efficiently as ASBA serves as an intermediary between the government  and micro-enterprises and SMEs”.  Chukwuka said that because ASBA is closer to the entrepreneurs, it understands them and makes recommendations to government for possible approval that guarantees a win-win relationship between the two.

He added: “Our people are not short of ideas and if you get ideas without money you cannot develop them.

“By definition, micro-enterprises are recognised industrial outfits which can utilise N5 million downwards.

“But half a billion to N10 million are grouped as Small and Medium Enterprises. This is the feature of Nigeria.

“All the economies that are doing well do so because they have small and medium enterprises just like a football team that has a feeder team.

“Our Governor will go down in history as the first in Anambra State to break the jinx of poverty by establishing ASBA. It is not every state that secured the loan. We thank God that he was a top banker before going into politics and has put security to secure the people.”