Welcome, we offer 24hrs Updates on Trending Naija News, Global News, Gossip, Events, Interview & Much More…

Firm pledges $13m SMEs support fund for N’Delta

2 min read
Image result for Firm pledges $13m SMEs support fund for N’Delta

PORT HAR-COURT—EQUITY financing investors, Grofin, Thursday declared $13 million fund to support Small and Medium Enterprises, SMEs, development in the Niger Delta, challenging any serious minded entrepreneur in the region t be part of the opportunity.

Friday Essienenkak, Investment Executive, Grofin, at a stakeholders’ sensitisation in Port Harcourt, Rivers State, said access qualification for prospective SME developers fund is devoid of collateral and choking interests as obtained in the banks.
Essienenkak said: “The Nigerian banking system is not structured to support SMEs with the demanding interests and overbearing collaterals which investors, especially those requiring startup capital can’t contend with.
“As we speak, we have $13 million equity to release to SMEs drivers of between $100,000  and $1.5 million for those who are focused on developing businesses that will create growth opportunities and values like generating more employment and repay dutifully till we exit our investment.”
Existing beneficiaries including Dr. Maraizu Uche of Palm Nectar Breweries shared testimonies of how Grofin, managers of Aspire fund, has helped in wiping the challenge of sourcing funding support to grow their businesses.

By Egufe Yafugborhi

From Toktok9ja Media

The views expressed in this article are the writer’s opinion, they do not reflect the views of the Publisher of TOKTOK9JA MEDIA. Please report any fake news, misinformation, or defamatory statements to

Leave a Reply

Your email address will not be published.