Entrepreneurship

NEXIM Announces $50m Agro-Export Fund For SMEs.

The Nigerian Export-Import (NEXIM) Bank on Tuesday announced partnership with Afreximbank which it plans to mobilise $50 million Project Preparation Fund for Nigeria to provide technical assis­tance to bankable Small and Medium Enterprises (SMEs) including those promoted by women and youth.

The Managing Director/ Chief Executive Officer, NEX­IM Bank, Abubakar Abba Bello made this known in Abuja at the launch of Wom­en and Youth Export Devel­opment Fund (WAYEF) with the Theme: Unlocking Export Market Opportunities For Women and Youth.

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Bello said said the launch of the facility was in com­memoration of the 2021 “International Women’s Day” celebrated globally on March 8.

He added that the project would increase women and youth participation in the global agro-export market.

He explained that the bank has provided enor­mous support for many export-oriented industries that are high employers of women and youth such as cashew, Shea, hibiscus, gin­ger etc where a lot of women are involved in cleaning and packaging of the products for export.

He said WAYEF would provide more financial sup­port for women and youth owned businesses operating in the various aspects of the export value chain under a more dedicated and focused arrangement.

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“WAYEF, however, seeks to do more by supporting Wom­en/Youth owned businesses operating in the various aspects of the export value chain under a more dedicat­ed and focused arrangement.

“In Africa and develop­ing countries, discrimina­tion against women is age long cultural practices. This underscores the need for us to redouble our efforts towards addressing such cultural practices and other obnoxious beliefs that have imposed limitations on the female gender.

independent.ng

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