The Governor of Anambra State, Professor Chukwuma Charles Soludo has provided highly subsidized loan facilities to Medium, Small and Micro Enterprises(MSMEs) in the state through the Anambra State Small Business Agency(ASBA), in line with his administration’s drive to reduce poverty and enhance productivity.
This was revealed during a media chat with the Managing Director and Chief Executive Officer of ASBA, Clement Chukwuka, who spoke extensively on how the Soludo administration is strengthening MSME growth through the Agency.
Speaking during the session, Chukwuka explained that since Governor Soludo inaugurated the ASBA Board in August 2023, the Agency has consistently supported businesses across critical sectors of the state’s economy.
According to him, “The mandate given to ASBA by Mr. Governor is to reduce poverty to its barest minimum and support businesses to grow. Ndi Anambra are known for Industrialisation, Agriculture, Trade and Commerce among others. These loans are structured to help entrepreneurs expand their capacity and eliminate poverty through increased productivity.”
Providing a sector-by-sector breakdown of the funds disbursed since August 2023, he noted that:
Manufacturing received 44%
Trade and Commerce received 23%
Agriculture and its value chain received 28%
Hospitality and Logistics received 5%
Chukwuka emphasized that ASBA is working towards achieving a minimum of N2 billion in disbursements before the end of 2025, in line with its strategic targets.
He also revealed that the Agency is at the final stages of completing the Tailoring/Garment production cluster/market at Ogbunike, a project expected to further stimulate job creation and capacity development within the garment sector.
Beyond funding, he highlighted ASBA’s continuous capacity-building interventions, noting that the Agency trains entrepreneurs on business management, provides advisory services and monitors the application of funds to ensure efficiency, accountability and measurable impact.