Kwara govt supports 490 SMEs with interest-free loans
At least 490 small businesses have won varying amounts of non-interest loans under the Kwara State social investment programme to grow their enterprises.
According to a statement by the government spokesman, Rafiu Ajakaye, 10 of the 490 young business owners got between N1.5m or N2m each at a symbolic ceremony where the State Governor, AbdulRahman AbdulRazaq, handed them the cheques.
He stated, “The 10 main winners, who pitched different business ideas ranging from printing, fashion, waste recycling, and agric value chains, are Hussein Ahmed (N1.5m); Azeez Akeem (N1.5m); Soliu Muhammed Lanre (N2m); Oladunni Kafilat Olaide (N2m);
“Femi Peter (N1.5m); Sanusi Ismail Adeshina (N2m); Ali Michael (N2m); Kareem Naimat (N2m); Adebayo Hadiat Tinuola (N1.5); and Abdulrauf Abdulraheem (N1.5m).
“The winners emerged from a rigorous process involving 15,708 applicants following different layers of screening by jurors drawn from the private sector and public service top players.
“The interest-free loan was given through Kwapreneur 3.0, a third in the series of the youth-focused initiative to support young people to thrive.”
AbdulRazaq said his administration would continue to implement policies and programmes that would make Kwara a better place to live, invest, and work.
He said, “This is another success story and a boost for small scale businesses in the state. Our administration will not relent in making Kwara State a better place to live and invest.”
AbdulRazaq congratulated the finalists of the third series of the scheme and said the programme could become a quarterly affair to accommodate more beneficiaries.
Kwara State Social Investment Programme had been established to positively impact the lives of the poor, the vulnerable, the unemployed and those at the bottom of the financial pyramid and have no access to funding, the Governor said.
He added, “KWAPRENEUR is one of the many poverty alleviating activities of KWASSIP. It is one of the ways to provide funding for small businesses, lubricate the economy, and reduce poverty. We are simply trying to give everyone a fair shot and a sense of belonging within available resources.”
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