Hardship: FG, Access Bank Partner To Empower 4m MSMEs, Create 384,000 Jobs

Federal government has entered into a new partnership with Access Bank to guarantee access to funds for Medium, Small and Micro Enterprises (MSMEs) across Nigeria through an SME focused initiative tagged “YouThrive by Access”. The aim is to facilitate job creation to cut Nigeria’s high unemployment rate.

Head, non-financial services, emerging businesses at Access Bank, Chioma Ogwo said participating small businesses would be empowered in different ways, including building their capacity and giving them access to affordable finance, besides providing them with the digital, technical and skill acquisition training to thrive and create wealth.

Mr Temitola Adekunle-Johnson who is the senior special assistant to President Bola Tinubu on job creation and MSMEs, said the move is part of government resolve to create 380,000 jobs within four years of the administration. “The plan is to create 384,000 jobs in four years. We will create these jobs for everyone to see. We will show you where the jobs are. You will hold us accountable,” Adekunle-Johnson said yesterday at the ‘Inaugural Job Creation and MSME Quarterly Communications Forum’ in Abuja.

Ogwo said Access Bank has earmarked N50 billion for the intervention programme. She said participants would access the loans at 15 percent interest rate, while free grants would also be given to deserving SMEs who have distinguished themselves.

“We are looking at empowering 4 million in four years – one million yearly. 700,000 would be given access to finance every year, 300, we will train,” Ogwo said, adding that “We have a business exchange programme for the beneficiaries that would enable the SMEs to go and exchange ideas with their counterparts in other countries. We will then learn the best from the best and come back to replicate it in Nigeria.”


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