Govt Seeks Single-Digit Interest For MSMEs

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The Minister of State, Industry Trade and Investment, Mariam Katagum has called for single digit rate financing for the Micro, Small and Medium Enterprises (MSMEs).

Katagum made this call during the virtual EcoBank MSME and Financial Inclusion Summit with the theme “Unlocking credit growth in a changing MSME lending landscape”.

She urged Ecobank and the financial sector to continue in the provision of much- needed support for the Federal Government’s initiatives by granting accessible financing for the MSMEs at single digit interest rate.

She said: “I am delighted to be part of the event which came at a time when the present administration is strategically repositioning the MSMEs landscape towards achieving its full potentials with a view to contributing more to the economy.’’

“It is in this regard that I commend the efforts of the management of Ecobank Plc, for being the major sponsors of this event and more importantly, for your sustained commitment in providing credit to entrepreneurs and small businesses in the country.”

The minister said there is no doubt that MSMEs are regarded as the driving force behind structural changes and sustainable economic growth and development, particularly with respect to their contributions to job and wealth creation. These enterprises play a big role in the economy and are crucial drivers of innovation and competition in many sectors of the economy.

– The Nation

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