Kaduna micro credit board to empower 14,000 businesses

The Kaduna State Industrialisation and Micro-Credit Management Board (KSIMMB) says it will empower 14,000 Micro, Small and Medium Enterprises (MSMEs) affected by COVID-19 with finance.

The Executive Secretary to the board, Dr Mustafa Shittu made this known in an interview with the News Agency of Nigeria (NAN) on Monday in Kaduna.

“There is going to be a World Bank project that caters for businesses affected by COVID-19 and that project is going to be out soon.

“We are going to support MSMEs with grants to improve their businesses, especially those that found it difficult to pay salaries due to COVID-19 and those that need to acquire IT facilities to enhance their businesses,” he said.

He said that the project was for years and would start in 2021, adding that the board would have list centres where MSMEs in the state would be supported.

He however noted that the board was undergoing restructuring and was awaiting the state executive council to approve various programmes the board was planning to execute.

He said that the board had a mandate to mediate for MSMEs to access finance and help them access market, adding that the board would also offer skills and capacity building trainings to businesses as well as advisory services.

“In terms of access to finance, we are in partnership with Central Bank of Nigeria, Bank of Industry and other funding partners.

“We serve as intermediary between businesses and the agencies to ensure that those businesses qualify for loans or grants as the case maybe,” he said.

According to him, the board is one of the top three in the state in terms of impacting meaningful to society as the role of MSMEs in economic development cannot be overemphasized.