© Reuters.
LAGOS – Access Bank Plc has announced a major expansion of its micro, small and medium enterprise (MSME) lending programme, increasing available funds from NGN30 billion to NGN50 billion. This strategic move is in line with the Federal Government’s broader initiative to promote employment and stimulate economic growth through increased support to MSMEs.
The Nigerian Government has expressed its commitment to the development of MSMEs as a fundamental driver of the economy. As part of this commitment, the Bank of Industry is scheduled to implement a N75 billion MSME lending initiative from January 2024. Access Bank’s increased financing capacity for MSMEs positions it as a key actor in this national strategy.
By providing additional financial resources, Access Bank aims to empower entrepreneurs and business owners within the MSME sector, widely recognized as a critical component in increasing employment opportunities and fostering sustainable economic development. This initiative reflects the bank’s dedication to facilitating the growth and success of smaller businesses, which are often considered the backbone of developing economies.
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2023-12-24 23:45:21
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