Strengthening Small Businesses: PLASMIDA and PS-OSIC Spearhead Access to Finance Dialogue in Plateau State

In a bid to strengthen support to Small and Medium-Sized Enterprises (SMEs), the Plateau State Government through its Agency Plateau Microfinance Development Agency (PLASMIDA), in collaboration with the Plateau State One-Stop Investment Center (PS-OSIC), supported by GIZ/SEDIN orchestrated a pivotal stakeholders’ dialogue on “Access to Finance” at Gowon Hall, Crispan Luxury Suites, Rayfield, Jos.

The aim of the information and dialogue session is to identify the critical challenges associated with accessing funding from the financial institutions and the SMEs perspectives towards finding sustainable solutions.

In his remark, the Secretary to the Government of the State and Chairman of Plateau State MSME Council, Arc. Samuel Jatau pledged government deliberate and intentional commitment to boosting the Business Enabling Environment thereby making it easier for businesses to start, run, and expand their business in the State.

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He reiterated the Government’s commitment to achieving the ongoing State Action Business Enabling Reform (SABER) program eligibility criteria towards addressing MSMEs challenges with access to finance identified as a long-standing obstacle to businesses.

He added that the State Government has begun processes for the establishment of the Plateau State MSME Fund, and has also commenced discussions with the Bank of Industry among others for a proposed partnership for an alternative funding option to create affordable capital for businesses to grow, scale, create wealth, and put people to work. The proposed loan scheme, shall be at a single-digit interest rate, that will be available to registered business owners in Plateau State.

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The GIZ/SEDIN Head of Component, Barr. Akinropo Omoware assures the State Government of their unweaving support in turning the State’s huge potential into reality by creating and sustaining jobs through the MSME sector. He further charged the government to pay attention to data management as data availability plays a major role to the development of the State economy.

The event culminated in a thought-provoking panel discussion, where participants delved into both barriers and opportunities for SMEs. The dialogue underscores the proactive approach taken by PLASMIDA and PS-OSIC, under the auspices of the Plateau State Government, in addressing the crucial issue of financing for SMSEs.

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In her address, the Ag. Centre Manager of the Plateau State One Stop Investment Centre (PS-OSIC) Ms. Roseline Bentu, stated that Government through its organizations is intentional and deliberated to strengthen collaboration, communication, and information platforms with relevant stakeholders to facilitate the implementation and sustainability of government initiatives for MSMEs.

Mr. Bomkam Ali Wuyep expressed gratitude to the critical stakeholders for prioritizing the event amidst their busy schedules, wishing them success in their respective endeavors.

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