Only Registered Businesses Will Benefit from N1bn Fund – MD KADEDA

The Managing Director, Kaduna Enterprise Development Agency (KADEDA), Anthony Timbuark says only businesses registered with the agency will benefit from the Nano, Small, Medium Enterprises (NSMEs) N1 billion fund.
Timbuark disclosed this yesterday during an interview with the News Agency of Nigeria (NAN) in Kaduna.
The state government had, on June 27, signed a Memorandum of Understanding (MoU) with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
The MoU, signed by the Kaduna state Governor, Uba Sani and Director-General of the SMEDAN, Mr Charles Odii, formalises a strategic partnership designed to enhance access to finance and strengthen business development in the state.
The collaboration yielded a N1 billion matching fund programme, jointly financed by both parties with N500 million each from SMEDAN and the Kaduna state government.
“Since his assumption into office, Gov. Uba Sani has created programmes to enhance NSMES and ensure the smooth running of businesses in the state.
“This is another step too and a major step to financing NSMES in Kaduna state by providing 500,000 million Naira fund to help NSMEs thrive in Kaduna”, he said.
Timbuark stated that KADEDA as an implementation agency for the initiative, would oversee and interface with Nano, Small and Medium Enterprises through a committee that would be inaugurated soon.
According to him, the initiative was in line with the state government’s SUSTAIN Agenda targeting youth and women especially in rural areas.
He explained that the money would be disbursed as a single digit loan to registered businesses in the state, assuring business owners to expect more from the agency. (NAN)