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Anambra State Government led by Governor Willie Obiano is processing the disbursement of a total of N1bn as single digit loans to micro-enterprises in the State including the local market men and women. Chief Clement Chukwuka, the Managing Director/CEO of Anambra Small Business Agency, ASBA, disclosed this while answering a question on Anambra Scorecard, an online live programme held last Wednesday.
According to Chukwuka, “ASBA is currently processing the disbursement of N1bn Micro-credit facility from CBN for artisans, cottage industries and market women. This is for 60% women and 40% men.”
Speaking further, Chief Chukwuka explained that “the loan facility covers all agricultural value chain, cottage industries, trade and commerce, services or any other economically viable business that would be accommodated within the limited amount which is N500,000 for an individual and N5m for co-operatives.”
“The tenure of the facility is 1 year at 9% interest rate per annum or three-quarter per month,” he added
Chief Chukwuka also noted that the required collateral is just a civil servant in level 14 and above or a serving Senior Special Assistant up-to a Commissioner or high net worth individuals or a qualified market stall or shop.
ASBA is a development financial institution established by Gov Obiano to make Anambra State the authentic hub for Micro, Small and Medium Enterprises in Nigeria by fraternizing with local, national and international financial institutions to provide single digit loans, necessary advice and capacity building for the empowerment and development of Ndi Anambra.