By Haruna Usman -Birnin Kebbi
Kebbi investment promotion agency KIPA, on Wednesday, held a round table with small-scale and medium entrepreneurs to chart ways of boosting investment drive in Kebbi state.
The gathering of stakeholders on investment promotion during the round table identified the inability of SMSMEs to access loans to felicitate trade which is critical to bringing and boosting investment in the state as an impediment to investment drive.
Speaking at the event, the Director General, of the Kebbi investment promotion agency, Dr Muhammad said that several factors are responsible for the slow flow of investments into the state which could come from the active participation of small-scale and medium entrepreneurs such as traditional and religious beliefs of domiciled entrepreneurs saying Islam as a religion frowns at loans with interest hence the reason many of them shy away from it, therefore, lack fat capital required for business promotion.
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He explained that at the early stage of the agency, their first assignment was to approach financial institutions in the country to give Kebbi entrepreneurs loans without interest “We have achieved that so very soon SMSEs will pick up in the state since they have the required capital and the market is there to assist them thrive as they push for investments ” he said.
Kebbi acting head of the service, hajia Aisha Usman, in her submission stated that the essence of the gathering of loan givers, KIPA, and SMSMEs is to enable them to access loans or grants to boost their petty trades which she described as the driving force of economic revival and investments while the agency serves as middlemen to facilitate access to loans that would bring needed investment boost ” at the end of the day an agreement to the effect of how to get the loans or grants would be perfected since both stakeholders are there to chart ways out”.
The programme which will be held at Saffar Guest in Birnin Kebbi will run for two days.
