Ebonyi Ministry Of Business Development Secures Loan For Timber Dealers, Others

In a meeting with  the Members of Timber Dealers Association yesterday,  the Hon. Commissioner for Business Development, Dr. Stephen Odo  announced to the traders that the Ministry has made available facilities from Bank of industry, Zenith Bank, Access Bank and NIRSAL Micro Finance Bank which is a good one compared to what they would have obtained if they approched those institutions as individuals.

It is the efforts of the Ministry in creating a more ease of doing business in the State.
He informed them the need for diversification and a second address initiative which is a project of His Excellency Engr Chief David Nweze Umahi FNSE FNATE the Executive Governor of Ebonyi State in improving the standard of living of the citizens of Ebonyi State.

He further noted that it is sucidal for any business man to seek loan facilities at 10% per month which is about 120% per annum. But he informed that the ministry has being able to secure facilities with NIRSAL Micro Finance Bank at 9% per annum, Zenith Bank at 16% per annum and Access Bank at 15% per annum for women Entrepreneurs or for Companies and Businesses which has women as shareholders of about 50% shareholding rights.

He let them know that these arrangements has been made available for Business owners in the state.

Dr. Odo told the members of the Timber Dealers Association that the Ministry also provides Training in the following areas
1. Capacity Building
2. Business Development Strategies
3. Business Branding
5. Financial Management
6. Bookkeeping etc
He made them know that they need these knowledge and Training to effectively run a more profitable venture. He said that discipline is important in Business success and let them know that it is going to be interactive session that would help the older members share their experience with the young Generation.