Boosting MSMEs: EU, German Agency Provide N200m Grant For Kano State

-by our correspondent.

The German International Cooperation Agency (GIZ), in conjunction with the European Union (EU), have lunched a N200m non interest financing scheme to boost Micro, Small and Medium Enterprises (MSMEs) in Kano State.

The GIZ’s Investment Adviser, Yakubu Musa-Paiko, who disclosed this at the inauguration of the financing scheme for MSMEs in the garment and leather value chains in Kano said the scheme would be implemented under the Nigeria Competitiveness Project (NICOP) arrangement.

“Under the scheme, N20m has so far been disbursed to 280 MSMEs in Kano State and about 2,000 MSMEs are targeted to draw from the fund. NICOP is also being implemented in Abia, Kano, Kaduna, Lagos, Ogun, Oyo and Plateau States.” Musa-Paiko said.

He said businesses in tomato, chili, garment and leather value chains were selected to participate in the project in Kano State.

“One of the challenges facing them is access to finance, we are partnering with JAIZ Bank to develop special support to such MSMEs,” he noted.

He explained that the main objective of the project is to boost MSMEs, and creating employment opportunities for the people.

In her remarks, the Northwest Regional Manager, JAIZ Bank, Na’imatu Abdullahi, reiterated the commitment of the bank towards enhancing access to finance for the MSMEs in the country. Also speaking, the state Commissioner for Commerce and Industry, said that the project key to the development of the state in view of the high population of unemployed youths.

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