SMEDAN Financially Empower MSMEs In 2 States With N6M

SMEDAN Financially Empower MSMEs In 2 States With N6M

The Small and Medium Enterprises Development Agency of Nigeria SMEDAN has provided an end-to-end business development service to 120 rural entrepreneurs and business owners, who are at the bottom of the pyramid in Cross River and Katsina States.

The programme tagged "Financial Empowerment Initiative" is a supportive mechanism to enhance rural entrepreneurship, enterprise output, competitiveness, job creation and financial inclusion for those who fall within the category of Nano Enterprises within the rural areas.

The main objective of the Financial Empowerment was to reinvigorate the rural enterprises, mainstream them into the formal sector and cushion the effects of the economic downturn on nMSMEs in Nigeria. It is expected that the program will be carried out in the 6 geopolitical states of the Federation.

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The Agency equally called on state governments to partner with SMEDAN in order to scale up the numbers of beneficiaries in this project. The 60 nano entrepreneurs selected is limited but due to budgetary constraints, the Agency could not accommodate more in each state.

With support from state governments this numbers could be increased and more entrepreneurs would be able to grow their business, generate income and become enabled to accommodate statutory taxes and levies.