Home News EMPOWERMENT :WIKE APPROVES DISBURSEMENT  OF  BUSINESS LOANS TO 35000 SMALL BUSINESS OWNERS

EMPOWERMENT :WIKE APPROVES DISBURSEMENT  OF  BUSINESS LOANS TO 35000 SMALL BUSINESS OWNERS

by Our Reporter

In a bid to empower small and medium scale business owners in the state,

Rivers State Governor,  Nyesom Ezenwo Wike has  approved  the
disbursement  of business  loans to 35000 less privileged business
operators under the CBN N2billion Micro, Small and Medium Entreprises
Development Fund.

Under the first phase, Governor Nyesom Ezenwo Wike approved  a list of
35,000  from the 23 Local Government Areas of the State.  Amongst  these
beneficiaries  are Indigenes and non-indigenes  resident in Rivers State.

The list of beneficiary small and medium scale business owners included:
barbers, plantain sellers, restaurant owners, painters,  tailors,
hairdressers, traders, market women, mechanics,  fishermen, farmers etc.
These are the ordinary  folks committed to  developing  themselves  with
the support of the government.

The empowerment  loans approved by  the  governor  is being distributed
by  the  Rivers State Micro Finance Agency.

The beneficiaries got their loans in this order:

1)  Cosmopolitan Microfinance Bank: #9 Agudama street, D/line Port
Harcourt. This is for the people of:  Opobo/Nkoro, Oyigbo ,Andoni,Asari
Toru ,Bonny ,Degema, Eleme , Gokana , All Traders , Market women and all
non Indigenes.

2) RIMA Growth Pathway Microfinance Bank: Located at Rivers State
Secretariat Complex,  Podium Block, Port Harcourt. This is for the people
of: Obio Akpor ,PHALGA ,Khana ,  Okirika

and Omuma .

3) PREMIUM Microfinance Bank: plot 202 Olu Obasanjo Road, Port Harcourt.
This is for the people of: Abua/Odual ,Ahoada East ;Ahoada West ,Emohua
,Ogu/Bolo ,Etche ,Ogba/Egbema/Ndoni , Akuku Toru ,Tai and Ikwere .

The injection  of  the  N2billion into the businesses  of the less
privileged  in the  state  has kick-started the expansion  of  many of
these businesses.  The multiplier effect is already being felt by the
people in the lower rung of the economic  ladder.  The empowerment
programme has led to employment opportunities  as several beneficiaries
have expanded their businesses.

Prior to  the disbursement  of  the  loans ,  Governor  Wike organised a
training  session  for all the beneficiaries  on how to effectively  use
the loans to improve on their respective  businesses.

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