By Ukpa Ewa
The Anambra State Action on Business Enabling Reforms (SABER) Committee, through the Anambra State Small Business Agency (ASBA) and Anambra State Investment, Promotion and Protection Agency (ANSIPPA), has held a high-profile summit aimed at expanding credit opportunities for Small and Medium Enterprises (SMEs).
The event which took place at International Conference Center, Awka has as its themed " Financing the Future: Expanding Credit Opportunities for SMEs in Anambra State.
In his keynote address, Commissioner for Industry, Mr. Christian Udechukwu who represented Governor Chukwuma Charles Soludo, praised the state’s recent national recognition as the best and most SME-friendly state in the South-East. He noted that Anambra State ranks first in the ease of doing business in Southern Nigeria and seventh nationwide. According to him, over 450 SMEs have benefited from financial support through ASBA and the Ministry of Industry. "This summit is crucial to raising awareness about available funding and showcasing the state government's efforts in infrastructure to support SME growth," he said.
He further revealed that the state is building the Anambra Mixed-Use Industrial City, which will provide a hub for SMEs and large industries stating that the vision is to create a cluster where innovation and excellence in industrial development thrive, reinforcing Anambra’s status as a leading commercial and industrial hub in Africa.
On his part, the Managing Director of ANSIPPA Mr. Mark Okoye emphasized that the summit provided a platform for dialogue between the private and public sector while explaining that the initiative supports the state’s action plan on enabling a better business environment. "About 150 SMEs attended to learn more about funding opportunities from agencies like SMEDAN, the Bank of Industry (BOI), commercial banks, and even the stock exchange," he said, adding that both the public and private sectors must work to improve access to theses credit opportunities.
Earlier in her remarks, the State Manager Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), Engr. Chito Onuzulike, stressed the need for greater awareness among SMEs regarding available financing options. "There are funds available, but many businesses are either unaware or believe the funds are inaccessible to them. This summit aims to change that perception," she noted.
Onuzulike reaffirmed SMEDAN's commitment to guiding SMEs to available financial resources in partnership with the state government through ASBA.
Also, a participant, Dr. Amaechi Nwachukwu, expressed concerns over challenges faced by SMEs in accessing finance, noting that many financial institutions prioritize established businesses. He called for more inclusive policies from the banking sector to help struggling businesses access funds without unnecessary delays.
