Yobe state Microfinance Bank has announced it’s plan to empower Small and Medium Enterprises, SMEs, with business capital worth One Hundred Million Naira.
This was announced by the Managing Director of the bank, Dr. Sherif Muhammad Ibrahim Almuhajir on his official Facebook page.
He said “Yobe Microfinance Bank proposed one hundred million Naira Business Capital for Small and Medium enterprises across Yobe State.
“The program is aimed at boosting productivity of business men and women through revolving of funds by issuing one million Naira to each beneficiary, both the customer and the Bank are expected to share the proceeds of the business in equal value” Almuhajir added.
He said in order to validate the new product, the Bank has identified 10 medium scale businesses and 30 small scale businesses to test run the business model.
The programme according to him is launched with the popular Mama Edo restaurant, a woman with over two decades business history in the State Capital.