The Abia state government on Friday 3rd September 2021 formerly unveiled the Abia State SME Micro finance Bank under the leadership of Mr Kingsley Nwobilor to the Abia state business community through the umbrella of Aba Chamber of Commerce, Industry, Mines and Agriculture. The SMEs micro finance bank is an initiative of the Abia state government in 2017 with the aim of accelerating and supporting economic growth of Small and Medium Enterprises (SMEs) in Abia state.
The Bank which has Kingsley Nwobilor as its Managing Director (MD) has assured the Abia business community in Aba, that the bank is poised to support SMEs in the state to grow. The MD stated that the bank through its numerous products is set to jump-start and grow businesses in the state. Some of the products Mr Nwobilor unveiled to the business community includes;
- The Cluster Credit Scheme for traders
- Save to own for keke and taxi drivers
- Thrift Savings Credit Scheme for traders especially market women.
- Abia SME Bank Diaspora Investment Fund which is a fund to be contributed by diasporans to support mostly youth driven businesses.
He highlighted that many diasporans are interested in investing and empowering their kinsmen back home in Abia but do not have a structured and transparent channel to support those businesses.
The Managing Director is an economist and an investment banker with several years of experience both Nigeria and Abroad. Prior to his appointment, he was formerly a banker with the Nigerian Industrial Development Bank (Trustees) where he has handled several assignments that has brought about improvement in many businesses.
Mr Nwobilor appreciated the executive governor of Abia state Dr Okezie Ikpeazu for the confidence reposed in him and his team. He revealed that the governor has give them all the needed support to succeed in the assignment.
The MD who hails from Ugwunagbo Local Government Area of Abia State further stated that he is passionate about the job and that he has a good knowledge of the terrain. He assured the business community in Aba and environs that it a new dawn for them and their businesses as the Abia SMEs Micro Finance Bank is poised to support and help them grow their businesses. He however appealed to the SMEs for the requisite support as well as corporation to enable him and his team deliver on their mandate.
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