• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Thursday, July 3, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Access Bank To Empower 700,000 MSMEs With N50bn

by Olushola Bello
1 year ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

Access Bank, has launched a ‘YouThrive’ initiative to empower 700,000 Micro, Small and Medium-sized Enterprises (MSMEs) in the country through a N50 billion loan.
Deputy managing director, Access Bank, Victor Etuokwu stated this during a press briefing held recently in Lagos. Etuokwu revealed that the MSMEs that would benefit from the programme would undergo trainings to enable them optimally make use of the loan.

Advertisement

According to him, Access Bank is set to financially empower over 700,000 youth MSMEs and to achieve this, we have set aside N50 billion to lend to them at a huge, discounted interest rate.
He also said the ‘YouThrive’ is a transformative initiative designed by Access Bank to empower, uplift, and accelerate the next generation of MSMEs, saying “in the next four years we will empower four million youth, one million per year.
Also, at the Inaugural Job Creation and MSME Quarterly Communications Forum, hosted by the Senior Special Assistant to the President on job creation and MSME held recently in Abuja, head, Emerging Businesses, Access Bank, Chioma Ogwo, said “in four years, we hope to empower four million people, or one million each year.
“We have a business exchange program for the beneficiaries that would enable the SMEs to go and exchange ideas with their counterparts in other countries.

“Every year, 700,000 would be given access to financing, and 300,000 would be trained.”
“There are also going to be employment opportunities as 1000 outstanding individuals who receive these training by the Bank and its holding companies will be recruited within the Tech space, the Access corporation ecosystem and other partner companies,” Ogwo noted.
Speaking on this initiative, Senior Special Assistant to the president on job creation and MSMEs, Temitola Adekunle-Johnson said that the initiative by Access Bank will help address the issue of access to affordable loans by small businesses.

He said the end point is to achieve a single digit loan by commercial banks for MSMEs, adding that “our aim is to ensure single digit loans become the norm for MSMEs.
He disclosed that “disbursements will be made after the loan assessment is processed. This initiative will help reduce the bottlenecks often faced by MSMEs in securing funding for their businesses.”
He commended the bank for using its funds and giving out the loan at a discounted rate and urged small businesses to take advantage of the opportunity and grow their businesses.

Adekunle-Johnson also disclosed that the government is working towards creating 100,000 thousand jobs by May 29 and 384,000 jobs in four years.
He said the initiative will be launched massively across the country as the government is willing to provide businesses with the support of the social and private sector partnership.
He therefore urged other financial institutions to come up with programmes to support the SME sector.

RELATED

Savannah Energy Empowers 100 Students

Savannah Energy Empowers 100 Students

2 minutes ago
BIC Reaffirms Commitment To Youth Empowerment Through Creative Initiatives

BIC Reaffirms Commitment To Youth Empowerment Through Creative Initiatives

9 minutes ago

We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Access bank
SendShareTweetShare
Previous Post

US Airman, Teixeira, Pleads Guilty To Pentagon Documents Leak

Next Post

Foundation Appoints Noah’s Ark CEO Mental Health Ambassador

Olushola Bello

Olushola Bello

You May Like

Savannah Energy Empowers 100 Students
Business

Savannah Energy Empowers 100 Students

2025/07/03
BIC Reaffirms Commitment To Youth Empowerment Through Creative Initiatives
Business

BIC Reaffirms Commitment To Youth Empowerment Through Creative Initiatives

2025/07/03
Ecobank Nigeria To Reward  500 Customers
Business

Ecobank Group, Google Cloud Partner To Accelerate Financial Inclusion, Innovation Across Africa

2025/07/03
Don’t Rush Into Businesses You Know Nothing About, Stakeholders Warn Retirees
Business

Businesses Sustain Positive Growth Momentum Despite High Prices

2025/07/03
NLNG Delivers 3 LPG Cargoes To Local Market In December
Business

‘Tech Domestication To Broaden Local Content In Energy Sector’

2025/07/03
NICON Insurance Pensioners Decry Exclusion From Revised Pension Adjustments
Business

NICON Insurance Pensioners Decry Exclusion From Revised Pension Adjustments

2025/07/03
Leadership Conference advertisement

LATEST

Commissioner Tasks School Heads On Sexual Harassment

Savannah Energy Empowers 100 Students

WBFA, Reckitt Inaugurate 106 Students As Hygiene Ambassadors

Strike: The Fate Of FCT Primary School Teachers, Pupils

BIC Reaffirms Commitment To Youth Empowerment Through Creative Initiatives

FMBN, Niger Govt Partner To Address Housing Deficit

Ecobank Group, Google Cloud Partner To Accelerate Financial Inclusion, Innovation Across Africa

Firm Bets On InsurEase To Disrupt Nigeria’s Insurance Market

Businesses Sustain Positive Growth Momentum Despite High Prices

‘Tech Domestication To Broaden Local Content In Energy Sector’

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.