Business

Radda Unveils N5bn Loan Scheme

Governor Dikko Radda of Katsina State has launched the ₦5bn Katsina State SME Growth Fund as well as the DIkko Business Development Support (BDS) Corp Intervention Programmes, an initiative aimed at empowering small and medium-scale enterprises (MSMEs) in the State.

In this intervention programmes, entrepreneurs will be provided with financial resources, business development services, and access to markets. Governor Radda while launching the program held at the Katsina State Secretariat Conference Hall on Wednesday, emphasised that MSMEs are the backbone of any thriving economy.

He acknowledged the link between economic instability and insecurity, emphasising that creating economic opportunities through upscaling MSMEs will lead to job creation, poverty reduction, and a strengthened local economy.

This, he said will in turn, foster social harmony and reduce criminality by promoting economic inclusivity and bridging the gap between different socio-economic groups.

He, however, highlighted the challenges hitherto faced by the government in coming up with the initiative which include limited access to finance, inadequate business development support, and a lack of tailored support.
He further outlined his administration’s commitment, towards addressing the challenges through the launch of these programs.

The governor commended the leadership and management of the Katsina State Enterprise Development Agency (KASEDA) for their dedication and strong foundation, serving as cornerstone in the state’s efforts to build a sustainable and thriving economic environment.

He explained that several key initiatives are underway to foster a thriving entrepreneurial ecosystem in the State which include: conducting an MSME census to gather critical data on the needs and challenges faced by entrepreneurs.

Related Articles