Access Bank to support four million MSMEs, women with N30bn
In partnership with the Office of the Vice-President (OVP), Access Bank Plc has pledged to provide N30 billion to support four million Micro, Small and Medium Enterprises (MSMEs), women and youths businesses in Nigeria.
The Group Managing Director of the bank, Mr. Roosevelt Ogbonna made this known after a meeting with the Vice-President, Kashim Shettima at the Presidential Villa.
Ogbonna, who said the money would be provided to the MSMEs at discounted rates, added that the bank had been supporting MSMEs and women over the last 16 to 17 years.
He said, “It was a very interesting meeting with the Vice-President,Kashim Shettima, we spoke about how we can begin to impact the lives of women and youths in Nigeria as well as how we can support the MSMEs.
“We spoke on a broad range of issues. We want to change lives through the Office of the vice-president of small businesses of women and youths.
“We do agree and determine that about 66 per cent of MSMEs in Nigeria are owned by women and youths. And I think one of the challenges that they faced is access to finance.
“Working with the Office of the vice-president we agreed today that Access bank will provide about N30 billion towards supporting MSMEs and youths,” he added.
He emphasised that the bank had designed four different programmes to benefit no fewer than four million MSMES in the country.
Ogbonna also revealed that the bank would organise training programmes that would take them beyond the shores of Nigeria.
He added, “So that they can be better when they return. Financing, we expect that about 700,000 to a million people will be impacted but overall the programme will impact about four million MSMEs, youths and women.”
In his remarks, he said, “We are excited to be part of that process and we thank the office of the vice-president for giving us this opportunity to be a partner to his office.
“It will start from today, we just have to look for the deserving MSMEs. As we all know Access bank has been a bank that has supported SMEs and women for the last almost 16 to 17 years,” he concluded.
