Anambra woos small buisnesses with ‘low-interest loans’

Anambra Government says it has initiated low interest loans to support Micro, Small and Medium Enterprises (MSMEs) in the state to become sustainable businesses that would create jobs and wealth.

Mr Christian Udechukwu, Commissioner for Industry, Trade and Investment, said this on Saturday in Awka.

He spoke while inaugurating the Anambra Small Business Summit with the theme: “Enhancing the Growth of Small Business for Job and Wealth Creation.”

Udechukwu, who did not list the interest rates, however, said the mandate of the ministry was to enhance businesses for jobs and wealth creation.

“In the ministry we have funds that we have made available to micro, small, medium and large enterprises.

“For micro businesses, you can apply from zero to NN10 million. It is funded by the Anambra State government and the Bank of Industry,” he said.

He explained that to access more than N10 million loan the business owner had to register with the Corporate Affairs Commission (CAC) and also own assets.

The commissioner emphasized the need for small business owners in the state to register with the Small and Medium Enterprises Development Agency (SMEDAN) and Nigerian Association of Small and Medium Enterprises (NASME).

He said the measure would enable them access the various low interest loans available in the state.

Udechukwu said the government was building structures that would promote the non-oil sector through small scale businesses and agriculture.

Mrs Chito Onuzuluike, the State Coordinator, SMEDAN, said it was unfortunate that small business owners in the state do not take advantage of the opportunities abound in the agency to boost their operations.

Onuzuluike said the plan of SMEDAN to help small scale businesses in the state to develop was being hindered by lackadaisical attitude of business owners.

Also, Mr Kingsley Ahamefula, the head of CAC in the state said business registration was important in order to be recognised locally and internationally.

Mrs Bridget Obi, former Commissioner for Women Affairs in the state and a farmer commended the state chapter of NASME for organising the summit.

Obi said the event has exposed participants on many ways to develop small businesses and export goods and services.

Earlier, Mr Chinemerem Oguegbe, the state Chairman NASME said the summit was first of its kind organised by the private sector to provide solutions to the challenges of doing business in the state. (