Tuesday, October 6, 2015

Enugu accesses N280bn MSMEs fund from CBN

Enugu State Governor, Ifeanyi Ugwuanyi, has commended Fidelity Bank Plc for staging the regional Small and Medium Enterprises (SMEs) conference for entrepreneurs in South East geopolitical zone of Nigeria in Enugu State.

Ugwuanyi, who made the commendation on Monday at Nike Lake Hotel where the conference was organised, disclosed that his government has already accessed N280 billion MSME fund from the Central Bank of Nigeria (CBN), which has been disbursed to over 1,600 eligible Micro, Small and Medium Enterprises (MSMEs) to expand their businesses.
He said that he has channeled significant resources into the MSME sector through the SME Centre in the state.

Ugwuanyi, who was represented on the occasion by the Commissioner for Commerce and Industry, Mr. Sam Ogbu-Nwobodo, also disclosed that his government, in partnership with the Bank of Industry (BoI), had waived all interests on its contributions to the fund. He reiterated his commitment to sustaining and expanding the MSME initiative in the state.

“We strongly encourage the participants and other would-be entrepreneurs to visit Enugu SME Centre and avail themselves of the services rendered there,” Ugwuanyi said.
He, therefore, thanked the Managing Director and Chief Executive Officer of Fidelity Bank, Mr. Nnamdi Okonkwo, and his management team for choosing Enugu as the host city for the conference.
“This conference could not have taken place at a better time than now when the South East Nigeria is repositioning herself to contain the current economic hamstring occasioned by the precipitous drop in world oil price, which has constrained the resources available to the new administration,” Ugwuanyi said.

“It is significant that it is happening at a time when it is hoped to usher in a new vista in the developmental drive of the South East and Enugu State in particular,” he added.
In his welcome address, Okonkwo said his bank is an SME bank of choice for Nigerians.

He told the 100 upcoming businesses and strategic business leaders in the South East and other guests who attended the confab that some businesses that started as SMEs have today become conglomerates.
In encouraging SMEs, the Fidelity Bank boss said that they assessed successful and failed businesses in order to adequately advise upcoming entrepreneurs.

Prominent Igbo entrepreneurs who spoke at the conference with the theme, “Positioning SMEs for Growth in the South East Region”, included Chief Innocent Chukwuma of Innoson Group, Dr. Maduka Onyeishi of Peace Mass Transit, Ichie Nnaeto Orazulike of Genesis Foods, Sir Rob Anwatu of Roban Stores, among others.

Credit: Chidi Nnadi, Enugu

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