Borno State Launches Support Fund for SMEs Hit by COVID-19 Pandemic

The Governor of Borno State, Prof. Babagana Zulum has launched an empowerment program for small and medium scale enterprises affected by the COVID-19 pandemic .

The program which is code named BO-CARES is an innovative social program in line with the federal government NG-CARES peogram, to reduce the impact of COVID-19 on poor, vulnerable households and medium and small scale enterprises.

During the launch,  Zulum said BO-CARES aims at stemming youth restiveness to its barest minimum through boosting of small and medium enterprises majorly operated by youths.

There are 9,154 beneficiaries who include: 4, 024 tricycle operators, 3,130 operators of mobile phone repairers and retailers, and 2000 tailors drawn from their various associations.

The commissioner for Youth Empowerment, Sports Development and Poverty Alleviation, Saina Buba urged the beneficiaries to make judicious use of the grants to boost their businesses.

 

He announced that Governor Zulum has distributed 4.2billion Naira to various groups to boost their businesses in the last three years.

For his part, the Managing Director of the Borno State Microfinance Bank, Dr.Bello Alhaji Ibrahim said the state government established an ultra-mordern mechanic village aimed at boosting their business in Borno State.

Goodwill messages were also received from special guests. The project Manager of Bank of Industry Ali Mustapha Bello in his good will message, reiterated the Bank’s commitment to providing support for BO-CARES.

N814 millionie was distributed to 9,154 MSME’s.

This is in addition to the disbursement for different empowerment initiatives in previous years.

Dignitaries at the occasion include the speaker, Borno State House of assembly who was represented by his deputy, Engineer Abudullahi Askira, former deputy governor, Usman Mamman Durkwa, the State APC chairman and others.