• Wednesday, May 22, 2024
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Ikeanumba Africa unveils N10m support for MSMEs

Experts urge MSMEs on equipment leasing financing, advance machines

As part of efforts to assist operators of micro, small and medium scale enterprises (MSME) access to finance, Ikeanumba Africa, an entrepreneurship-driven magazine, has launched a N10 million annual support to fund clusters.

The vision, according to the group, is to impact lives and develop solutions as a result of the challenge faced by small businesses in accessing finance.

Addressing journalists, Ayabanma Ikeanumba, group head/chairman said the importance of small and medium business enterprises to the economy cannot be over emphasised.

According to him, this was confirmed by several surveys and research conducted by the group before the launch of the SME support project.

He added that the new product comes with a contest for 10 beneficiaries, stressing that the importance of a one million naira scheme for 10 business owners is to make an impact, ensuring that they remain in business for a long period of time without being liquidated or run out of operation.

Read also: Group holds summit on post COVID-19 recovery, MSMEs growth, job creation

“The support project tagged ‘Partner 2021’ is basically for startups. Our group has set aside N10 million yearly to meet the urgent needs of existing and potential businesswomen and men in the SMEs space. This is not a loan so to speak, it’s just a mere support which comes with a contest for 10 entrepreneurs,” he said.

Continuing, he disclosed that “we have a team that is handling that. We will evaluate your business before giving you such support and the entrepreneur could be ‘Mama Put’ out there, our focus is on the growth of the business.”

Speaking on behalf of the monthly magazine, Ikeanumba posited that the essence of the magazine is to create an interactive space for people who have succeeded in what they are doing. What we are concerned about is announcing successful businessmen and women in their chosen fields”, he enthused.

Also speaking at the forum, Akudo Abengowe, editor of the magazine, stressed the need for the scheme, noting that contest for the support is just N30,000 for the magazine subscription for a year and have a business plan with a minimum of three employees, adding that by meeting up with the criteria, a contestant could be one of the successful entrepreneurs at the end of 2021.