By Ahmed Rahma
The Nigerian Export-Import Bank (NEXIM) has collaborated with the African Export-Import Bank (Afreximbank) to mobilise the sum of $50 million to support Small and Medium Enterprises (SMEs) in Nigeria.
According to NEXIM, the $50 million Project Preparation Fund for Nigeria is for the provision of technical assistance to bankable SMEs, especially those promoted by women and youths.
The bank’s Managing Director, Mr Abubakar Bello, disclosed at the inauguration of Women and Youth Export Development Fund with the theme Unlocking Export Market Opportunities For Women and Youths that, “The fund was part of activities mapped out by both financial institutions to commemorate the 2021 International Women’s Day, which was celebrated globally on March 8.”
The NEXIM bank boss said the project would increase women and youth participation in the global agro-export market.
According to Mr Bello, the bank had supported many export-oriented industries that were high employers of women and youth such as firms involved the production of cashew, shea, hibiscus, ginger, etc.
He noted that the fund would provide more financial support for women and youth owned businesses operating in the various aspects of the export value chain under a more dedicated arrangement.
“WAYEF, however, seeks to do more by supporting women/youth owned businesses operating in the various aspects of the export value chain under a more dedicated and focused arrangement,” Mr Bello said.
“In Africa and developing countries, discrimination against women has been an age long cultural practices.
“This underscores the need for us to redouble our efforts towards addressing such cultural practices and other obnoxious beliefs that have imposed limitations on the female gender.”
Commenting on the development, the Minister of Women Affairs, Mrs Pauline Tallen, said poverty was the deadly disease afflicting women and youths, particularly in rural areas, adding that the initiative by the banks was welcomed.
The blockchain brings new financing options to the business market. For example, Bitcoin Cash casino has adapted to only using cryptocurrency. This way, it makes it easier for their customers to deposit and withdraw in a BCH casino. Entrepreneurs have taken note of this and are looking to invest more in crypto than in fiat markets.
Like Our Facebook Page
Latest News on Business Post
- FG Launches System to Register Phones to Tackle Theft May 13, 2021
- Premier League Agrees £5bn TV Broadcast Deal Extension May 13, 2021
- Firm Unveils Insurance Cover for Tricycle Riders May 13, 2021
- Insecurity: Buhari Begs Nigerians for More Understanding May 13, 2021
- HP Extends Digital Partner Programme to Global Retailers May 13, 2021
- DMO, Investors Prepare for N150bn Bond Sale May 19 May 13, 2021
- Eid al-Fitr: Akande-Sadipe Tasks Muslims on Peace, Love May 13, 2021
- Companies Pay N392.8bn Income Tax to Government in Q1 2021 May 13, 2021
- Bitcoin Slides as Elon Musk’s Tesla Suspends Acceptance for Purchase May 13, 2021
- Brent Hits $69 Amidst Positive Economic, Demand Forecasts May 13, 2021
Economy5 years ago
Kwara Disburses N1.7b For Projects
Technology5 months ago
How To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN
Feature/OPED1 year ago
Davos was Different this year
Economy3 years ago
FAAC: FG, States, LGs Share N655.18b in January
Economy2 months ago
MBA Forex Blames CBN for Inability to Return Investors’ Funds
Banking3 years ago
Sort Codes of GTBank Branches in Nigeria
General2 years ago
Ikeja Electric Explains How to Get Prepaid Metres via MAP
Feature/OPED2 months ago
COVID and the Growth of Technology in Nigeria