Governor Okezie Ikpeazu has stated that the idea of establishing the Abia Small and Mediun Enterprises Microfinance Bank was to create multi millionaires in the State through the Small and Medium Scale Entreprise by targeting to empower 100 persons each every month.
Governor Ikpeazu, who stated this at the
official opening of the Bank located at No 17B Ngwa Road Aba, also used the occasion to launch a ten million naira micro credit scheme for low income traders in the State.
The Governor while insisting that the ten million naira credit scheme should specifically be for the ordinary traders equally recommended that six out of every ten beneficiary in the first phase of the credit scheme be women.
He noted that the interest of Abia Government was to save traders from the long processes of collateral from commercial banks, explaining that the collateral needed to benefit from the scheme are ideas from the prospective beneficiaries as government is bringing financing to meet intellect and urged all to open accounts with the bank.
The Abia Governor disclosed that his interest in the Abia SME Bank was to afford the people of the State the opportunity for to access available funds from the Federal government, the CBN, Bank of Industry among others and promised that he would continue to fund SME in the State stressing that the location of the bank was strategic for traders in Aba.
Governor Ikpeazu, who used the opportunity to inform that the first set of Made in Aba shoes which would produced from the newly installed Automated Shoe Factory would be out in few weeks’ time called on Aba residents to leverage on the constant electric power in Ariaria International Market to better their lots.
In their welcome addresses, the
Commissioners for SME, Mr. Onyema Wachuku, Trade & Investment, Dr. Cosmas Ndukwe as well as Industry, Chief (Mrs.) Uwaoma Olenwemgwa maintained that Abia State believed in the entrepreneurs and was ready to support them in various ways, including the establishment of the bank which is specifically dedicated to the Small and Medium Scale Entrepreneurs.
They observed that the present administration was laying strong foundation for the greater economic development of the State while assuring that the Dr. Okezie Ikpeazu led government would assist them in ensuring that they got soft loans to boost their economy.
In their separate speeches, the Chairman, Abia Abia SME Microfinance Bank Implementation Committee, Dr. Eme Okoro and Coordinator, Implementation Committee, Mr. Gab Igboko described the Bank as the people’s bank and a catalyst that would revitalize the economy of the State; saying it is unparalleled in the history of economic development of the State.
While describing the project as a legacy project designed to assist Small scale entrepreneurs in the State, they thanked the Governor, CBN and Keystone Bank officials among others for their support to the Technical Committee.
Dr. Okoro and Mr. Igboko appreciated the Governor for his foresight in initiating and bringing the vision to reality and requested that the bank be moved to a permanent site as it would help to solidify the achievement made in establishing the bank.
Also speaking, the representives of the Bank of Industry Mr. Anthony Aligo, that of CBN, Mr. Celsus Hagler and of Keystone Bank, Mr. Austin Akuma who are partners of the State government said the Bank would help channel funds mesnt for SME for Abia people seamlessly and assured of more partnership with the State government.
In their goodwill messges, Mr. Clinton Ebere of the Aba stakeholders, the President Aba Landlords Association, Chief A. E Udeigbo and President Aba Chamber of Commerce, Chief Lawrence Obeta, while thanking the Governor for opening the bank, urged people, especially traders to open accounts there so as to enable them access soft loans.
Highlight of the event was the hand-over of two vehicles to the Management of the Bank by the Governor, Dr. Okezie Ikpeazu.
