EU and GIZ partner financial institution to support 280 MSMEs in Kano | The Guardian Nigeria News

The European Union flag flies at half mast in front of the headquarters of the European Commission in Brussels, Belgium. (Carl Court / Getty Images)

The European Union, in collaboration with the German International Population Project and with the support of Jaiz Bank Plc, improved the economic viability of 280 micro, small and medium enterprises (MSMEs) in the garment and leather sectors in Kano.

The private initiative anchored under the Nigeria Competitiveness Project (NICOP) aimed to uplift the real sector of the Nigerian economy through the development of technical skills, market access and the provision of financial support to develop MSMEs in Kano.

The NICOP initiative implemented in eight states including Abia, Kano, Kaduna, Katsina, Lagos, Ogun, Oyo and Plateau focuses on four major value chains of tomato, ginger, leather and clothing.

The pilot program, designed to eradicate poverty, create employment opportunities and sustainable economic growth, enabled beneficiaries to acquire financial skills provided by GIZ, while Jaiz Bank offers a zero loan facility to develop the company.

Speaking at the official launch of the micro-finance program for MSMEs in the garment and leather industry yesterday in Kano, Jaiz Bank, North West regional manager Hajia Naima Abdullahi, revealed that the institution Interest Free Financial supports the project as part of the corporate strategy to promote the economy.

Hajia Naimo, who presented a check for 200 million naira to four groups of garment and leather entrepreneurs, said the bank was ready to multiply the facility as long as the beneficiaries meet the associated conditions.

She explained that Jaiz is embarking on a two-year strategic plan to strengthen financial inclusion through a special interest-free micro-credit facility.

In addition, the regional director highlighted the corporate institution’s commitment to promote the culture of savings, Islamic insurance and the establishment of special platforms for free medical services in the country. She believes the new program will verify security concerns with employment opportunities for the unemployed youth population in the state.

For his part, the supervisor of investment access to finance, GIZ, Yakubu Musa Paiko, explained that the associated partners are committed to providing entrepreneurs with technical skills to improve the quality of production.

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