AEA disburses N1. 98bn to 5, 317 businesses, others – Official
NAN-H-68
Business
By Kabir Muhammad
Abuja, June 16, 2017 (NAN) The Managing Director, Abuja Enterprising Agency (AEA), Alhaji Arabi Tukur, says the agency has disbursed N1.98billion to 5, 317 businesses, cooperatives and people living with disabilities (PLWD) between May 2015 and May 2017.
Tukur made this disclosure at news briefing on Friday in Abuja to mark two years of the present administration in office.
According to him, one of the challenges facing entrepreneurs in the FCT is the difficulty in securing finances to facilitate start-up and growth.
“The agency has designed various initiatives and financial products to enable entrepreneurs have access to finance for their business.
“The agency also was selected as the Special Purpose Vehicle for the FCT Administration on the disbursement of CBN MSMEs Development Funds,’’ he said.
The managing director noted that FCT Micro Finance Bank (MFB), established in 2013 being supervised by AEA, was a deliberate effort in addressing the challenges faced by the MSMEs in accessing finances.
“It is a state level MFB with N100million capital holding. So far, it has over 20, 000 clients and about 10, 000 have accessed finances for their businesses,’’ he added.
Tukur said enterprise promotion is the strategic promotion of client’s products and services through the events, mobile tours and large network of individual cells to convey or promote a product idea.
“The agency has during the period successfully organised Abuja SMEs Expo, Business 360, provision of workplaces (AEA Box Office) and it has supported 1, 915 businesses through enterprise promotion and workplace provision.
“Also one of the agency’s strategies towards accelerating enterprise development in communities is through the provision of business development services.
“These include Outreach Advisory Services, Cooperative Management Training, One Village One Product, Access to Finance to facilitate Financial Inclusion and other services,” he said.
The managing director said that the agency has provided Business Development Services to 1, 564 rural entrepreneurs.
“Similarly, the FCTA has approved the establishment of 10 Cottage Centres in the rural communities per quarter of the year in April 2017.
“So far, the agency has successfully established four centres at Rimba and Nuku Communities at Abaji Area Council for Shea Butter, Chikuku Community in Kwali Area Council for Cassava Value Change Project.
“And at Guito Community in Bwari Area Council for Fish production.
“These projects are pilots and have gainfully engaged over 250 individuals by creating 100 jobs,’’ he said. (NAN)
KM/AFA
Edited by Felix Ajide