MSME financial empowerment: Uzodimma is on mission to eradicate poverty in Imo -ISIPA D.G

By Jude Onyenedogha

The Director General, Imo State Investment Promotion Agency (ISIPA), Prof. Jude Nzeako has enthused that Imo State Governor, Senator Hope Uzodimma is on a mission to completely eradicate poverty in the state.

Nzeako made this assertion in his address during a financial empowerment for Micro, Small and Medium Enterprises (MSME) in the state, held at the ISIPA office, Imo Trade and Investment/Ahiajoku Convention Center, New Owerri, recently.

“My mission, which is also the mission of the Governor, is to completely eradicate poverty in the state, a situation where every MSME will get the money they need to do business. We want to see a vibrant economy. That’s what the governor wants”.

He said the Governor’s elaborate policy and concern for the ordinary Imolites enabled his agency to reach out to “all people in all destinations and by that effort, we were able to have people give money for Imo MSME to be empowered.

Specifically, Prof. Nzeako disclosed that only N2 million, donated by St Peter’s Igbo Church USA was disbursed to 20 recipients, with each person receiving one hundred thousand Naira (N100,000), “just to test these people. We are going to work with these 20 people, to see how we can prepare them for the next three months”

He disclosed that there is still a lot in the pipeline, “being structured, being discussed. We started access to finance programme which we ran for the last thirteen (13) weeks. We have been holding webinars, trying to appeal to people all over the world to support MSME in Imo State”.

Prof. Nzeako said, as a result, they have other donors in cue who are monitoring and accessing the process and progress of the programme, disclosing that by March this year (2025), the agency will be organizing more elaborate financial empowerment, which will hopefully attract the presence of the governor.

The ISIPA D.G. made it clear that the first financial award was for the lowest of the traders, adding that the criteria was that the person must be in business, have a shop, so when they receive N100,000, it will make positive impact in their businesses, adding that a person must be registered with the agency to qualify to benefit.

According to Prof. Nzeako, the MSME in Imo State has suffered enough, as it is so difficult for them to access loans from banks, because of the high interest rate and other bottlenecks, reason for the move by the agency to source non or low interest loans for them.

Fielding questions from The Statesman during the programme, the Director General of Owerri Chamber of Commerce, Industry, Mines and Agriculture (OCCIMA), Dr. Princewill Eronini promised that OCCIMA will collaborate with ISIPA in the areas of training and manpower development of the MSMEs, to equip them with the requisite knowledge, especially in the area of record keeping, to enable them succeed in business and be able to attract funding for their businesses.

He disclosed that he has gotten market for “our local products” in the United States of America, describing it as a good opportunity for Imo MSME, while promising to fine-tune it with ISIPA, so they can help those who have quality products (Igbo/Nigeria local foodstuffs) to export and market them in the USA.

Some of the beneficiaries who fielded questions from The Statesman during the event included; Comrade Ike Ikechi, Uchegbu Chioma, Olumma Ginikanwa, John Esther and Onuoha Nathaniel.

They appreciated ISIPA, Imo State Government and parishioners of St. Peter’s Igbo Church USA for remembering them, saying if such empowerment had been in existence previously, traders in the state would have been having sense of fulfilment, while the state’s economy would have improved tremendously.