Aba artisans, businessmen and women have been advised to leverage on the "Made in Aba Product" mantra of the Abia State Government and patronize the newly established Small and Medium Enterprise Bank, located at 17b Ngwa Road, Aba to give their businesses lease of life.

Interacting with newsmen in his office, the Managing Director, SME Bank, Aba, Chijioke Nwobilor, said the SME Bank is licenced by the Central Bank of Nigeria(CBN), revealing that it stands to serve the purpose of the Abia State Government in the area of encouraging businesses, businessmen and women, artisans to grow their businesses.

Nwobilor said the SME Bank is an off-shoot of the Abia State Ministry of Small and Medium Scale Enterprises created by the Governor Okezie Ikpeazu administration through which youth among other people are rendered the necessary help to assist them in growing any business of their choice.

He stated that in order to key into this ideology of the State government, the SME Bank has come up with a programme called Cluster Credit Scheme intended to grant loans to artisans like shoe makers, Keke Operators and other businessmen who shall gather in clusters to partake in the scheme, stressing that majority of the businesses in Aba are in clusters, which is why the Bank is starting with the cluster credit scheme to capture the needs of these clusters.

Nwobilor emphasised that granting of the loans, is dependent on deposits made by these clusters as each cluster will be accessed on regular basis to ascertain the progress made with the loan, reiterating that this reflects the mandate they were given during their unveiling at Aba Chamber of Commerce on 3rd September, 2021.

He maintained that the effort embarked upon by the SME Bank is closely monitored by the CBN, whose officials train staff of the Bank on regular basis with a view to equipping them on how to deliver their mandate perfectly.

Nwobilor informed that apart from the Cluster Credit Scheme, the Thrift Credit Scheme, Abia SME Asset/Diaspora Investment Credit Scheme, there is also Save-to-Acquire Taxi/Bus and Keke, noting that these loan products and features are designed in line with the Abia State Government Empowerment Policy Thrust to encourage the growth of made in Aba products and other micro economic activities.

He said since Aba is the commercial hub of the South-East, the Cluster Credit Scheme, they decided to kick start in Aba, pointing out that it will get to other towns like Umuahia the State Capital, Ohafia among others as the scheme progresses.

Nwobilor advised people of Abia State, to support the Abia SME Microfinance Bank and stop creating false image or portraying the Bank in bad light, maintaining that they have put the ground running with capable and experienced workforce who understand the nitty gritty of what they are in for.

Provided it is sustainable... This is a very good initiative!

Nice one

Nice one