In a bid to empower small and medium scale business owners in the state, Rivers State Governor, Nyesom Ezenwo Wike has approved the disbursement of business loans to 35000 less privileged business operators under the CBN N2billion Micro, Small and Medium Entreprises Development Fund.
Under the first phase, Governor Nyesom Ezenwo Wike approved a list of 35,000 from the 23 Local Government Areas of the State. Amongst these beneficiaries are Indigenes and non-indigenes resident in Rivers State.
The list of beneficiary small and medium scale business owners included: barbers, plantain sellers, restaurant owners, painters, tailors, hairdressers, traders, market women, mechanics, fishermen, farmers etc. These are the ordinary folks committed to developing themselves with the support of the government.
The empowerment loans approved by the governor is being distributed by the Rivers State Micro Finance Agency.
The beneficiaries got their loans in this order:
1) Cosmopolitan Microfinance Bank: #9 Agudama street, D/line Port Harcourt. This is for the people of: Opobo/Nkoro, Oyigbo ,Andoni,Asari Toru ,Bonny ,Degema, Eleme , Gokana , All Traders , Market women and all non Indigenes.
2) RIMA Growth Pathway Microfinance Bank: Located at Rivers State Secretariat Complex, Podium Block, Port Harcourt. This is for the people of: Obio Akpor ,PHALGA ,Khana , Okirika
and Omuma .
3) PREMIUM Microfinance Bank: plot 202 Olu Obasanjo Road, Port Harcourt. This is for the people of: Abua/Odual ,Ahoada East ;Ahoada West ,Emohua ,Ogu/Bolo ,Etche ,Ogba/Egbema/Ndoni , Akuku Toru ,Tai and Ikwere .
The injection of the N2billion into the businesses of the less privileged in the state has kick-started the expansion of many of these businesses. The multiplier effect is already being felt by the people in the lower rung of the economic ladder. The empowerment programme has led to employment opportunities as several beneficiaries have expanded their businesses.
Prior to the disbursement of the loans , Governor Wike organised a training session for all the beneficiaries on how to effectively use the loans to improve on their respective businesses.
