Access Bank partners FG, plans N30bn support for 4m MSMEs, women, youths

In line with its commitment to support women and youth-owned businesses in Nigeria, Access Bank Plc, has entered into partnership with the Federal Government of Nigeria to provide N30 billion in support for four million Micro, Small and Medium Enterprises (MSMEs) across the country.

The Group Managing Director/Chief Executive Officer of Access Bank Plc, Roosevelt Ogbonna, made this known in an interview with the press after a meeting with the Vice-President, Kashim Shettima.

He said “This initiative echoes our longstanding commitment to   inclusivity, and we are privileged to align our efforts with Office of the Vice-President’s mandate to prioritise the empowerment of women. We are thankful to the Vice-President for granting us the opportunity to partner with the Federal Government.

Indeed, his shared belief in the potential of women and his support through this partnership gives us significant impetus to do more.

“With   more   than   66 per cent   of   the   Nigeria’s   MSMEs   owned   by   women   and   youths, challenges including access to finance, education and mentorship remain prevalent.

“To bridge these gaps, we have designed four different programmes to benefit no fewer than four million individuals and businesses across Nigeria,” he said.

On his part, Senior Special Assistant to the President on Job Creation and MSMEs, Office of the Vice-President, Mr. Temitola Adekunle-Johnson, reiterated the readiness of the Federal Government to partner with the private sector to support SMEs.

He said, “President Bola Ahmed Tinubu has told the entire world that Nigeria is ready, and our doors are open for partnerships that will be of benefit to the populace. Women are a key We recognise the need for public-private collaborations in fostering progress, so   this   partnership   with Access   Bank   has   come   at   the   right   time.   We   expect   the programme to commence very soon, and we are excited for the opportunities that it will afford MSMEs.”

Ogbonna   also   emphasised   that   all   beneficiaries   will   be   accessing   the   funds   at discounted   rates   and   expressed   excitement   at   the   opportunity   to   deepen  Access Bank’s scope of impact as it continues playing its part in fostering sustainable and inclusive growth.