By Ovat Abeng
A Chieftain of the All Progressive Grand Alliance (APGA) and the deputy mayor of Idemili South local government area of Anambra state, Hon. Ifeanyi Christopher Anakuba, has supported 200 micro and petty traders in Ojoto community, with nonrefundable loan of N20m to boost their business ventures.
The ceremony was performed at the Ojoto community civic center, on Tuesday.
Beneficiaries were mostly youths and women, including non-indigenes, irrespective of party or religious affiliation.
Speaking during the ceremony, Hon Anakuba, said that the stakeholders of the community initiated the programme to support youths and women, who need seed capital to give their micro and small scale businesses some boost.
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He said, “I am an entrepreneur. I understand the importance of capital to micro and small scale businesses. I pioneered this programme when I was secretary of youths of this community – when we organized empowerment programme for youths of our community.
“Today, we’re doing this in a bigger way – expanding the frontier to accommodate more beneficiaries. All beneficiaries are carefully selected from the eight quarters of our community, as well as non-indigenes, irrespective of political parties and religious affiliation.
“It is also important to note that this loan is free and nonrefundable. That means that whatever gain you make, you plough it back into your business and make more gains.”
He urged the beneficiaries to invest the monies wisely in their respective business concerns, so that they would multiply the monies, expand and stabilize their businesses; adding that the community have a team of people that would monitor their individual business performances for necessary appraisal.
Responding, a beneficiary, Mr. Emmanuel Ogbonna, who said he is into spare parts business, said that investing the money into his business would give it a boost.
He said, “I sell brake pads, and when I invest the money into the business, it will give it a boost. N100,000 can purchase two cartons of break pads, and I can make 50% profit from it and plough it back into the business, and continue to grow.”
He thanked the stakeholders, especially the Deputy Mayor, who championed the initiative, and promised to put the money into good use.
Another beneficiary, Amaka Egbuna, who sells cassava, said that she used to buy in small scale, but that with money she received, she could purchase in larger scale and make more profits.
Another beneficiary, Mrs Nchekwube Madubuko, a poultry farmer, expressed happiness over the money she received – thanking the community and its stakeholders for the kind gesture.
She explained that she used to buy bird feeders in small scale, but with the money, she would buy feeders and birds in bags and cartons to boost her business.
Mayor of Idemili South local government area, Hon. Amaka Obi, who was present at the ceremony, commended the Deputy Mayor, Hon. Anakuba, saying that the Deputy Mayor targeted the grassroots which is the critical aspect of any community.
She posited that the financial support would keep the beneficiaries out of the streets; making them bread winners instead of dependents.
