Wema bank, Ekiti govt empower 2,000 youths in SMEs

THE Ekiti State Government and the Wema Bank PLC have trained 2,500 youths in Agribusiness and Small Medium Enterprises out of which 2,000 will be empowered, to reduce poverty and unemployment in the system.

The programme tagged Agribusiness Small, Medium Enterprise Investment Scheme (AGSMEIS), was an initiative of the Central Bank of Nigeria and an intervention policy designed to create wealth among Nigerians and reduce poverty.

Speaking at the AGSMEIS closing ceremony on Saturday, Governor Kayode Fayemi, said the programme co-sponsored by WEMA Bank PLC, would bring mutual benefits to the society in terms of jobs creation, financial inclusion and crime reduction.

Fayemi, represented by Commissioner for Investment, Trade and Industry, Mr David Olusoga, added that the partnership with the organised private sector was facilitated by Ekiti State Bureau of Employment, Labour and Productivity and Microfinance and Enterprise Development Agency.

“I enlist the support of other building blocks of the society in the quest of promoting and developing entrepreneurship among our youths. A good example has been laid by WEMA Bank plc.

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“It is my desired expectation that many of you will not only conceive winning business ideas but will go ahead and develop successful businesses that will bring prosperity not only to you but to humanity.”

Fayemi said the new entrepreneurs would have access to single-digit interest rate loans to drive their businesses, saying the government was desirous of changing the perspective that only civil service work is profitable in Ekiti with the entrepreneurship concept.

The Regional Manager, Wema Bank PLC, Mr Kola Mustapha, said 2,000 will be considered for empowerment among the trainees and that injecting them into Ekiti’s economy will open up the state to business opportunities.

“To every growing enterprise, about ten people are attached in terms of the value chain. We are willing to partner the government to do more of this.

“If the private sector can partner our government, the enterprise will grow in Ekiti and the economy will be stronger in terms of empowering our jobless youths, reducing poverty level and crime rate. Even more, investors will be willing to invest here once they see Ekiti as a good investment destination.”

On the fear by the trainees, especially those that were interested in farming on the risk posed by incessant farmers-herders clashes, the Deputy Director, African Leadership Forum, Dr Olufemi Adebiyi, said such will be addressed through micro-insurance policy attached to the scheme.

The Director General, Ekiti State Bureau of Employment, Labour and Productivity, Mr Lanre Ogunjobi, urged the trainees and other already into entrepreneurship, to use the opportunity of border closure policy of the federal government to develop their businesses.