By Chiamaka Edokwe :
The MD/CEO, Anambra State Small Business Agency(ASBA), Mr. Clement Chukwuka has said that under Governor Charles Soludo’s Administration, ASBA has significantly bolstered the support for Micro, Small and Medium Enterprises (MSMEs) in Anambra.
He said this during an interview with journalists in commemoration of the 2024 World MSME Day.
According to the Managing Director, since the inauguration of its Board of Directors on August 1, 2023, ASBA has allocated approximately N841 million within 10 months, in low interest loans to various MSMEs in manufacturing, agriculture, trade and commerce thereby creating numerous direct and indirect jobs.
“Additionally, ASBA has put every machinery in motion to draw down a N1billion facility from the Bank of Industry (BOI ), to provide additional support to MSMEs under the Governor Soludo’s Government, he hinted.
“Moreso, the UNDP/EU grants awarded a N100,000 each to 1,820 Anambra entrepreneurs, amounting to a total of N182million while the next batch of 1,180 entrepreneurs will receive grants after completing the entrepreneurial training in each of the three senatorial zones, scheduled for the second week of July 2024, all organized by the UNDP/EU”.
Mr Chukwuka added that Governor Soludo’s Anambra COVID-19 Action Recovery and Economic Stimulus (AN-CARES) project, has also empowered entrepreneurs in Anambra, saying that
it aimed at alleviating the economic impact of the COVID-19 pandemic on micro and small enterprises (MSEs).
He said that the funds provided critical financial and technological assistance to struggling businesses across the state.
“Under the AN-CARES project, ASBA facilitated grants to 323 indebted SMEs, totaling N67,613,741.32.
These funds categorized as Conditional Credit Grant were channeled through various financial institutions, primarily Micro Finance Banks, to help reduce debt burdens on these enterprises.”
He further said that the second category which is the IT Enhancement Grant, delivered essential digital solutions to 68 qualifying SMEs, to improve their operational efficiency and competitive edge in the digital economy.
The ASBA boss hailed Soludo’s administration for being committed to supporting small businesses and driving economic recovery through strategic initiatives and international partnerships.
*Edokwe is of the Ministry of Information, Anambra State*
