COMMERCE MINISTRY, BANK OF INDUSTRY STRENGTHEN PARTNERSHIP TO BOOST SME GROWTH IN ANAMBRA

By Ebele Iyke Odili

The Anambra State Ministry of Commerce and the Bank of Industry (BOI) have reaffirmed their commitment to strengthening collaboration aimed at improving access to financing and capacity-building opportunities for entrepreneurs, Small and Medium Enterprises (SMEs), and Micro, Small and Medium Enterprises (MSMEs) in the state.

This formed the focus of discussions when officials of the Bank of Industry paid a courtesy visit to the Honourable Commissioner for Commerce, Anambra State, Hon. Nomso Chukwuma Ebonwu, in his office on June 3.

Welcoming the delegation, Hon. Ebonwu expressed appreciation for the visit and described it as a significant step toward consolidating the existing partnership between the Ministry and the Bank of Industry.

The commissioner noted that the Soludo administration remains committed to creating an enabling environment for businesses to thrive and emphasized the need to make credit facilities more accessible to entrepreneurs across the state.

He observed that while various funding opportunities exist for SMEs and MSMEs, there have been challenges and bottlenecks that hinder access to such facilities, stressing the need for stronger collaboration to bridge the gaps and ensure that businesses benefit from available intervention programmes.

Hon. Ebonwu further said that improving access to finance for entrepreneurs would contribute significantly to economic growth, industrialization, job creation and wealth generation in line with the vision of Governor Chukwuma Soludo.

During the meeting, both parties engaged in strategic discussions on practical measures to simplify access to credit facilities, particularly those domiciled with the Bank of Industry, and explored ways of strengthening support for businesses across the state.

Speaking on behalf of the Bank of Industry delegation, the Divisional Head, Mr. Andrew Oghomi, reaffirmed the institution’s readiness to work closely with the Ministry of Commerce to address existing challenges and improve the delivery of financial support services to entrepreneurs.

The divisional head was accompanied by the Regional Manager, Mrs. Anulika Akabogu, and the State Manager, Mr. Chibuzo Oji.

Mr. Oghomi assured the Ministry that relevant information on available programmes and funding opportunities would be regularly shared to enhance awareness and accessibility among businesses in the state.

He also disclosed plans to establish a joint working framework with the Ministry, including the designation of two desk officers from the Ministry of Commerce who would undergo specialized training by the Bank of Industry.

According to him, the trained Ministry personnel would serve as liaison officers between the Ministry, entrepreneurs, SMEs and MSMEs, providing guidance on available BOI facilities, application processes and other business development opportunities.

The BOI delegation noted that the initiative would strengthen the Ministry’s capacity to support businesses more effectively, reduce bottlenecks associated with accessing credit facilities and improve the delivery of information and advisory services to entrepreneurs across the state.

They further emphasized the importance of continuous capacity building and collaboration in advancing the state’s economic development agenda.