The Anambra State Government has announced plans to offer low-interest loans aimed at supporting Micro, Small, and Medium Enterprises (MSMEs) in the state. The initiative, which will offer loans starting from N10 million and above, was unveiled during the opening of the Anambra Small Business Summit, held at King David Hotel in Awka.
Christian Udechukwu, the State Commissioner for Industry, Trade, and Investment, made the announcement, highlighting the initiative as a key part of Governor Chukwuma Soludo’s vision to make Anambra a prosperous economic hub. Udechukwu emphasized that the initiative would help foster job creation and wealth generation by providing accessible funds to both small and large enterprises in the state.
“We have set aside funds for businesses ranging from micro to large-scale enterprises, with loans for micro businesses ranging from zero to N10 million. For loans above N10 million, businesses will need to be registered with the Corporate Affairs Commission (CAC) and own assets,” Udechukwu explained.
He further stressed that Anambra businesses should register with the Small and Medium Enterprises Development Agency (SMEDAN) and the Nigerian Association of Small and Medium Enterprises (NASME) to access these loans and other available financial support.
Udechukwu also pointed out that the state government, under Governor Soludo’s leadership, is building structures to promote the non-oil sector, with particular emphasis on agriculture and small-scale businesses.
During the summit, Mrs. Chito Onuzuluike, the State SMEDAN Coordinator, lamented that many small business owners in Anambra fail to take advantage of opportunities available through SMEDAN to boost their operations. She urged business owners to take proactive steps toward improving their businesses with available support.
In his remarks, Mr. Kingsley Ahamefula, the Head of the Corporate Affairs Commission in Anambra, stressed the importance of business registration for both local and international recognition.
The summit, which is the first of its kind organized by the private sector, seeks to provide solutions to the challenges facing small business owners in Anambra. It featured discussions aimed at creating a more enabling environment for businesses to thrive in the state.
