Anambra State agency disburses N2bn credit facility
The Anambra State Small Business Agency (ASBA) has disbursed N2 billion credit facilities to small business holders in the state since its inception in June 2016 by Governor Willie Obiano of Anmabra State.
The Managing Director/Chief Executive of the Agency, Chief Clement Chukwuka, stated this recently during the commissioning of the Anambra State’s Shoe Manufacturers Association and Allied Market at Nkweke Ezunaka –Osile, Ogbunike Junction in Oyi Local Government Area of the state.
Nwankwo said the N1bn ASBA/CBN, SME facility disbursed at Awawbia Governor’s lodge in June, 2015, was fully utilized to fund over 250 companies with annual turn-over in excess of N500 million.
The ASBA Managing Director said the turnover was as follows 45 per cent, manufacturing and industrial activities, 33 per cent agricultural value chain, 12 per cent trade and commerce and 10 per cent logistics among others.
He said that over 1, 500 direct and 10,000 indirect jobs were created from the SME Empowerment programme.
Chukwuka said another N1bn ASBA/CBN micro credit facility was disbursed to over 7,500 micro enterprises in the state with every community and local government benefitting from the credit, which created 8,000 direct jobs and 30,000 indirect jobs.
He said, “it is also important to note that the agency has concluded plans for the flag-off of a similar project for the Tailoring and Government Industrial sectors, which will help create more entrepreneurs, employment and grow the GDP of the state.
The MD noted that they extended their micro credit of N500,000.00 per beneficiary to over 800 shoe manufacturers and dealers with a tripartite agreement between ASBA, the Anambra State Shoe Manufactures Association and their project developer, Facomore Nigeria Ltd, amounting to N400m.
He said the project has received the endorsement of CBN, as well as Standard Organisation of Nigeria (SON), to enhance export potentials of the products produced in the market.
The facilities in the project include spacious garage, security post, potential banking facilities and accommodation for allied trading business ventures.
Alphonsus Nweze, Awka
