Yobe Micro Finance Bank Limited has launched business capital disbursement of N54 million to GSM phone sellers, repairers and other small scale business owners in the state.
Briefing journalists on the programme on Thursday in Damaturu, the managing director of the bank, Dr Sheriff Muhammad Ibrahim, disclosed that the capital was aimed at encouraging small businesses to grow and contribute to the state’s economy.
Dr Sheriff noted that the project was part of Governor Buni’s initiative to improve the performance of small scale businesses in the state.
He said the project was divided into three components; one among which was to empower about 200 GSM sellers and repairers with N24 million capital to inject into their business.
“Part of the capital is also meant to assist civil servants, especially those at the lower level, who may need foodstuff through our identified vendor and the money would be deducted through their monthly salaries in instalments.
“The last part of the project is N10 million support aimed at helping vulnerable women and widows who are into small businesses.”
He said the bank would study the first phase with a view to expanding it to other local government areas.
Malam Malami, the chairman of the GSM marketers thanked the bank for the gesture on behalf of all the beneficiaries.